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REGISTERED NUMBER: 01184834 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Parsons Landscapes Ltd.

Parsons Landscapes Ltd. (Registered number: 01184834)






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


Parsons Landscapes Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T J D Parsons
Mrs J E Parsons
R A Parsons
Mrs S Parsons
D G Parsons
Mrs J I Parsons





SECRETARY: Mrs J E Parsons





REGISTERED OFFICE: Dairy House Farm
Stoke St. Mary
Taunton
Somerset
TA3 5BY





REGISTERED NUMBER: 01184834 (England and Wales)





ACCOUNTANTS: GSS Accountants Limited
Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL

Parsons Landscapes Ltd. (Registered number: 01184834)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 215,868 184,074

CURRENT ASSETS
Stocks 1,150 1,300
Debtors 5 175,748 251,883
Cash at bank and in hand 1,064,561 895,549
1,241,459 1,148,732
CREDITORS
Amounts falling due within one year 6 153,349 217,352
NET CURRENT ASSETS 1,088,110 931,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,303,978

1,115,454

CREDITORS
Amounts falling due after more than one
year

7

(48,949

)

(25,775

)

PROVISIONS FOR LIABILITIES (49,474 ) (43,243 )
NET ASSETS 1,205,555 1,046,436

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,205,455 1,046,336
1,205,555 1,046,436

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.

Parsons Landscapes Ltd. (Registered number: 01184834)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





T J D Parsons - Director


Parsons Landscapes Ltd. (Registered number: 01184834)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Parsons Landscapes Ltd. 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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision effects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Trade and other receivables - The allowance for doubtful accounts involves significant management judgement and review of individual receivables based on individual customer creditworthiness and credit history.

Amounts received on annual contracts - Where work is not undertaken during the winter months after the company year end the income for this period is accrued and included in the current accounts.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 5% on cost
Plant and machinery - 25% on reducing balance and over the period of the lease
Tractors & trailers - 25% 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.


Parsons Landscapes Ltd. (Registered number: 01184834)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 28 (2022 - 29 ) .

Parsons Landscapes Ltd. (Registered number: 01184834)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Tractors Motor
property machinery & trailers vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 26,703 256,287 42,689 315,005 640,684
Additions - 49,805 - 47,476 97,281
Disposals - (44,773 ) - (37,250 ) (82,023 )
At 31 December 2023 26,703 261,319 42,689 325,231 655,942
DEPRECIATION
At 1 January 2023 15,276 194,763 40,238 206,333 456,610
Charge for year 159 22,846 208 38,818 62,031
Eliminated on disposal - (42,198 ) - (36,369 ) (78,567 )
At 31 December 2023 15,435 175,411 40,446 208,782 440,074
NET BOOK VALUE
At 31 December 2023 11,268 85,908 2,243 116,449 215,868
At 31 December 2022 11,427 61,524 2,451 108,672 184,074

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 January 2023 - 139,044 139,044
Additions 32,861 47,476 80,337
Transfer to ownership - (27,490 ) (27,490 )
At 31 December 2023 32,861 159,030 191,891
DEPRECIATION
At 1 January 2023 - 54,589 54,589
Charge for year 6,572 31,088 37,660
Transfer to ownership - (19,912 ) (19,912 )
At 31 December 2023 6,572 65,765 72,337
NET BOOK VALUE
At 31 December 2023 26,289 93,265 119,554
At 31 December 2022 - 84,455 84,455

Parsons Landscapes Ltd. (Registered number: 01184834)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,517 130,682
Other debtors 13,696 21,726
Directors' current accounts 51,832 51,560
Prepayments and accrued income 17,703 47,915
175,748 251,883

Other debtors include advance corporation tax on directors loan accounts of £13,361 (2022: £13,551).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 32,290 23,998
Trade creditors 22,763 64,604
Tax 34,497 42,542
Social security and other taxes 34,119 25,986
VAT 16,534 29,124
Other creditors 2,924 7,640
Accrued expenses 10,222 23,458
153,349 217,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 48,949 25,775

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 81,239 49,773

The bank overdraft is secured by a first legal mortgage dated 5/8/1982 over the company's freehold property and an unscheduled mortgage debenture dated 28/8/1991, incorporating a floating charge.

The hire purchase creditors are secured on the assets they relate to.

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees, contingencies and commitments at the year end of £10,345 (2022: £1,278)

Parsons Landscapes Ltd. (Registered number: 01184834)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
T J D Parsons
Balance outstanding at start of year 15,268 15,139
Amounts advanced 242 129
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,510 15,268

R A Parsons
Balance outstanding at start of year 16,182 15,718
Amounts advanced - 464
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,182 16,182

D G Parsons
Balance outstanding at start of year 20,110 20,090
Amounts advanced 30 20
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,140 20,110