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REGISTERED NUMBER: 02839144 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARROTT HOLDINGS LIMITED

PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)






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


PARROTT HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D V Parrott



SECRETARY: D V Parrott



REGISTERED OFFICE: 1 Singer Way
Woburn Road Ind Estate
Kempston
Bedford
MK42 7AW



REGISTERED NUMBER: 02839144 (England and Wales)



ACCOUNTANTS: 80K Limited
59a Day's Lane
Biddenham
Bedford
Bedfordshire
MK40 4AE



BANKERS: National Westminster Bank plc
81 High Street
Bedford
MK40 1NE

PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 153,365 228,477
Investments 5 - 1,000
153,365 229,477

CURRENT ASSETS
Stocks 66,807 278,331
Debtors 6 400,282 390,885
Cash at bank 224,810 360,690
691,899 1,029,906
CREDITORS
Amounts falling due within one year 7 (397,997 ) (409,312 )
NET CURRENT ASSETS 293,902 620,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

447,267

850,071

CREDITORS
Amounts falling due after more than one
year

8

(120,247

)

(119,550

)
NET ASSETS 327,020 730,521

CAPITAL AND RESERVES
Called up share capital 490 490
Capital redemption reserve 510 510
Retained earnings 326,020 729,521
SHAREHOLDERS' FUNDS 327,020 730,521

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 director acknowledges his 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.

PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)

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 director and authorised for issue on 10 September 2024 and were signed by:





D V Parrott - Director


PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)

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

1. STATUTORY INFORMATION

Parrott Holdings 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
All fixed assets are initially recorded at cost.

Investment properties are recorded at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the revaluation reserve, unless a deficit or its reversal on an individual property is expected to be permanent, in which case it is recognised in the profit or loss in the year.


Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. This departure from the provisions of the Companies Act 2006 is required order to give a true and fair view.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)

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

2. ACCOUNTING POLICIES - continued

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
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.

The company's pension plan for directors is a defined contributions scheme. Consequently, the annual instalments charged to the profit and loss account are fixed under the terms of the scheme and the company has no potential liability other than for the payment of those instalments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 254,166
Additions 164,935
Disposals (253,523 )
At 31 December 2023 165,578
DEPRECIATION
At 1 January 2023 25,689
Charge for year 29,460
Eliminated on disposal (42,936 )
At 31 December 2023 12,213
NET BOOK VALUE
At 31 December 2023 153,365
At 31 December 2022 228,477

The net book value of tangible fixed assets includes £ 153,546 (2022 - £ 228,658 ) in respect of assets held under hire purchase contracts.

PARROTT HOLDINGS LIMITED (REGISTERED NUMBER: 02839144)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 1,000
Impairments (1,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 360,000 300,000
Other debtors 40,282 90,885
400,282 390,885

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 25,064 69,025
Taxation and social security 60,277 40,446
Other creditors 312,656 299,841
397,997 409,312

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 120,247 119,550