IRIS Accounts Production v24.2.0.383 02608091 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true true true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026080912023-06-30026080912024-06-30026080912023-07-012024-06-30026080912022-06-30026080912022-07-012023-06-30026080912023-06-3002608091ns15:EnglandWales2023-07-012024-06-3002608091ns14:PoundSterling2023-07-012024-06-3002608091ns10:Director12023-07-012024-06-3002608091ns10:Director22023-07-012024-06-3002608091ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002608091ns10:SmallEntities2023-07-012024-06-3002608091ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002608091ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002608091ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002608091ns10:FullAccounts2023-07-012024-06-3002608091ns10:CompanySecretary12023-07-012024-06-3002608091ns10:RegisteredOffice2023-07-012024-06-3002608091ns5:CurrentFinancialInstruments2024-06-3002608091ns5:CurrentFinancialInstruments2023-06-3002608091ns5:Non-currentFinancialInstruments2024-06-3002608091ns5:Non-currentFinancialInstruments2023-06-3002608091ns5:ShareCapital2024-06-3002608091ns5:ShareCapital2023-06-3002608091ns5:RetainedEarningsAccumulatedLosses2024-06-3002608091ns5:RetainedEarningsAccumulatedLosses2023-06-3002608091ns5:LeaseholdImprovements2023-07-012024-06-3002608091ns5:PlantMachinery2023-07-012024-06-3002608091ns5:FurnitureFittings2023-07-012024-06-3002608091ns5:MotorVehicles2023-07-012024-06-3002608091ns5:LeaseholdImprovements2023-06-3002608091ns5:PlantMachinery2023-06-3002608091ns5:FurnitureFittings2023-06-3002608091ns5:MotorVehicles2023-06-3002608091ns5:LeaseholdImprovements2024-06-3002608091ns5:PlantMachinery2024-06-3002608091ns5:FurnitureFittings2024-06-3002608091ns5:MotorVehicles2024-06-3002608091ns5:LeaseholdImprovements2023-06-3002608091ns5:PlantMachinery2023-06-3002608091ns5:FurnitureFittings2023-06-3002608091ns5:MotorVehicles2023-06-3002608091ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3002608091ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3002608091ns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3002608091ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-06-3002608091ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3002608091ns5:LeasedAssetsHeldAsLessee2024-06-3002608091ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:LeasedAssetsHeldAsLessee2023-06-3002608091ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-06-3002608091ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3002608091ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3002608091ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3002608091ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3002608091ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3002608091ns5:HirePurchaseContracts2024-06-3002608091ns5:HirePurchaseContracts2023-06-3002608091ns5:Secured2024-06-3002608091ns5:Secured2023-06-30
REGISTERED NUMBER: 02608091 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PARKER HOSE & FITTINGS LIMITED

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKER HOSE & FITTINGS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: S Leonard
L Leonard





SECRETARY: L Leonard





REGISTERED OFFICE: Fisher Street
Walker
Newcastle Upon Tyne
Tyne and Wear
NE6 4LT





REGISTERED NUMBER: 02608091 (England and Wales)





ACCOUNTANTS: Blaeford Gordon & Company Ltd
101 Galgate
Barnard Castle
Co. Durham
DL12 8ES

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 411,740 469,632

CURRENT ASSETS
Stocks 5 1,183,415 1,103,449
Debtors 6 1,281,505 1,107,346
Cash at bank 575,188 458,461
3,040,108 2,669,256
CREDITORS
Amounts falling due within one year 7 1,405,818 1,694,754
NET CURRENT ASSETS 1,634,290 974,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,046,030

1,444,134

CREDITORS
Amounts falling due after more than one year 8 (235,070 ) (357,690 )

PROVISIONS FOR LIABILITIES (85,100 ) (104,556 )
NET ASSETS 1,725,860 981,888

CAPITAL AND RESERVES
Called up share capital 130 130
Retained earnings 1,725,730 981,758
SHAREHOLDERS' FUNDS 1,725,860 981,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

BALANCE SHEET - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




S Leonard - Director



L Leonard - Director


PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Parker Hose & Fittings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 38,111 302,095 141,715 462,278 944,199
Additions - 18,323 - 41,064 59,387
At 30 June 2024 38,111 320,418 141,715 503,342 1,003,586
DEPRECIATION
At 1 July 2023 38,111 193,022 119,348 124,086 474,567
Charge for year - 19,109 3,355 94,815 117,279
At 30 June 2024 38,111 212,131 122,703 218,901 591,846
NET BOOK VALUE
At 30 June 2024 - 108,287 19,012 284,441 411,740
At 30 June 2023 - 109,073 22,367 338,192 469,632

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 47,785 394,583 442,368
Additions - 24,490 24,490
At 30 June 2024 47,785 419,073 466,858
DEPRECIATION
At 1 July 2023 40,680 93,294 133,974
Charge for year - 81,445 81,445
At 30 June 2024 40,680 174,739 215,419
NET BOOK VALUE
At 30 June 2024 7,105 244,334 251,439
At 30 June 2023 7,105 301,289 308,394

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 1,183,415 1,103,449

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,281,505 1,107,346

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 9) 36,979 32,688
Trade creditors 811,302 838,526
Tax 403,847 158,691
VAT 59,154 54,308
Short term loans 82,500 82,500
Debtor advances 2,036 441,678
Accrued expenses 10,000 86,363
1,405,818 1,694,754

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other loans - 1-2 years 41,667 104,167
Hire purchase contracts (see note 9) 188,403 228,523
Pension scheme loan 5,000 25,000
235,070 357,690

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 36,979 32,688
Between one and five years 188,403 228,523
225,382 261,211

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 225,382 261,211
Pension scheme loan 25,000 45,000
Due to Lloyds factoring 2,036 441,678
252,418 747,889

The bank overdraft and factoring facilities are secured by way of all assets debentures in favour of Lloyds TSB Commercial Finance Ltd.

Hire purchase contracts are secured by the assets to which they relate.

11. RELATED PARTY DISCLOSURES

Parker Hose & Fittings Ltd RBS

Mr S Leonard and Mr L J Leonard are the beneficiaries under the scheme.

During the year the company paid rent totalling £93,975 (2023 - £97,568) to the scheme.