IRIS Accounts Production v24.2.0.383 00940816 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009408162022-12-31009408162023-12-31009408162023-01-012023-12-31009408162021-12-31009408162022-01-012022-12-31009408162022-12-3100940816ns15:EnglandWales2023-01-012023-12-3100940816ns14:PoundSterling2023-01-012023-12-3100940816ns10:Director12023-01-012023-12-3100940816ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100940816ns10:SmallEntities2023-01-012023-12-3100940816ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100940816ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100940816ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100940816ns10:FullAccounts2023-01-012023-12-3100940816ns10:Director22023-01-012023-12-3100940816ns10:Director32023-01-012023-12-3100940816ns10:CompanySecretary12023-01-012023-12-3100940816ns10:RegisteredOffice2023-01-012023-12-3100940816ns5:CurrentFinancialInstruments2023-12-3100940816ns5:CurrentFinancialInstruments2022-12-3100940816ns5:ShareCapital2023-12-3100940816ns5:ShareCapital2022-12-3100940816ns5:RetainedEarningsAccumulatedLosses2023-12-3100940816ns5:RetainedEarningsAccumulatedLosses2022-12-3100940816ns5:PlantMachinery2023-01-012023-12-3100940816ns5:PlantMachinery2022-12-3100940816ns5:PlantMachinery2023-12-3100940816ns5:PlantMachinery2022-12-3100940816ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100940816ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100940816ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-3100940816ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-12-31
REGISTERED NUMBER: 00940816 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARROTT CONSTRUCTION LIMITED

PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)






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 CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C P Layram
D V Parrott
K I Clarke





SECRETARY: D V Parrott





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





REGISTERED NUMBER: 00940816 (England and Wales)





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

PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 61,230 69,199

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 4,442,124 3,589,513
Cash at bank and in hand 1,319,129 803,130
5,766,253 4,397,643
CREDITORS
Amounts falling due within one year 6 (3,565,753 ) (2,526,324 )
NET CURRENT ASSETS 2,200,500 1,871,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,261,730

1,940,518

PROVISIONS FOR LIABILITIES - (16,829 )
NET ASSETS 2,261,730 1,923,689

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Retained earnings 2,011,730 1,673,689
SHAREHOLDERS' FUNDS 2,261,730 1,923,689

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.

PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)

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 10 September 2024 and were signed on its behalf by:





C P Layram - Director


PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)

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

1. STATUTORY INFORMATION

Parrott Construction 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
The total value of turnover arising from building contract services executed in the year, excluding value added tax, is included in turnover.

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.
Plant and machinery etc - 25% on cost, 20% on cost and 10% on cost

All fixed assets are initially recorded at cost.

Stocks and work in progress
Stock is valued at the lower of cost and net realisable value. In the case of raw materials, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in, first out basis.

Contract work in progress is stated at costs incurred, less those transferred to the profit and loss account, after deducting foreseeable losses and payments on account.

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.

Hire purchase and operating lease agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company's pension plan for employees 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.

Long term contracts
The amount of profit attributed to the stage of completion of a long term contract is recognised when the outcome of the contract can be foreseen with reasonable certainty. Turnover for such contracts is stated at cost appropriate to their stage of completion plus attributable profits, less amounts recognised in previous years. Provision is made for any losses which are foreseeable.

Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments on account. Payments on account are disclosed within creditors and represent the balance of payments on account in excess of amounts offset against turnover and long term contract balances.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 254,039
Additions 28,885
At 31 December 2023 282,924
DEPRECIATION
At 1 January 2023 184,840
Charge for year 36,854
At 31 December 2023 221,694
NET BOOK VALUE
At 31 December 2023 61,230
At 31 December 2022 69,199

PARROTT CONSTRUCTION LIMITED (REGISTERED NUMBER: 00940816)

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

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 897,384 168,549
Amounts recoverable on
contracts 775,694 677,477
Other debtors 2,454,347 2,293,105
4,127,425 3,139,131

Amounts falling due after more than one year:
Trade debtors 314,699 450,382

Aggregate amounts 4,442,124 3,589,513

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 1,402,081 1,031,610
Trade creditors 576,925 592,980
Taxation and social security 225,840 191,327
Other creditors 1,360,907 710,407
3,565,753 2,526,324

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D V Parrott.