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REGISTERED NUMBER: 00643536 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

J. PARSONS & SONS LIMITED

J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. PARSONS & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G G Parsons
V Sumner





REGISTERED OFFICE: 28/29 Carlton Terrace
Portslade
Brighton
East Sussex
BN41 1UR





REGISTERED NUMBER: 00643536 (England and Wales)





ACCOUNTANTS: Haines & Co
Chartered Accountants
Carlton House
28-29 Carlton Terrace
Portslade
Brighton
BN41 1UR

J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94 126
Investments 5 150 150
Investment property 6 426,001 426,001
426,245 426,277

CURRENT ASSETS
Cash at bank 140,212 152,249

CREDITORS
Amounts falling due within one year 7 29,376 42,100
NET CURRENT ASSETS 110,836 110,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

537,081

536,426

PROVISIONS FOR LIABILITIES 39,690 49,762
NET ASSETS 497,391 486,664

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 177,273 177,273
Retained earnings 319,118 308,391
SHAREHOLDERS' FUNDS 497,391 486,664

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)

BALANCE SHEET - continued
31 DECEMBER 2023


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 30 July 2024 and were signed on its behalf by:





G G Parsons - Director


J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

J. Parsons & Sons 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.

Changes in accounting policies
The entity transitioned from previously extant UK GAAP to FRS 102 as at 1 January 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

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 each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and the fair value movement included in the profit for the year are as follows:

Properties are value by the directors using a yield basis to identify fair value.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Leases
Assets held for use in operating leases are included as a separate category in fixed asset investments and are revalued in accordance with Statement of Standard Accounting Practice No.19. Rental income is recognised when received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 43,848
DEPRECIATION
At 1 January 2023 43,722
Charge for year 32
At 31 December 2023 43,754
NET BOOK VALUE
At 31 December 2023 94
At 31 December 2022 126

J. PARSONS & SONS LIMITED (REGISTERED NUMBER: 00643536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 150
NET BOOK VALUE
At 31 December 2023 150
At 31 December 2022 150

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 426,001
NET BOOK VALUE
At 31 December 2023 426,001
At 31 December 2022 426,001

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 8,162
Tax 162 -
Social security and other taxes 3,001 3,001
Other creditors 13,523 12,408
Directors' current accounts 11,790 17,629
Accrued expenses 900 900
29,376 42,100

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 177,273