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REGISTERED NUMBER: 05676135 (England and Wales)











TOTAL PARKING SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

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










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 627,282 560,959

CURRENT ASSETS
Debtors 414,186 434,632
Prepayments and accrued income 63,898 113,216
Cash at bank and in hand 1,214,869 1,216,579
1,692,953 1,764,427
CREDITORS
Amounts falling due within one year 1,569,945 1,522,127
NET CURRENT ASSETS 123,008 242,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

750,290

803,259

CREDITORS
Amounts falling due after more than one
year

(110,594

)

(43,097

)

PROVISIONS FOR LIABILITIES (144,529 ) (124,518 )

ACCRUALS AND DEFERRED INCOME (27,608 ) (21,049 )
NET ASSETS 467,559 614,595

CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve - 104
Retained earnings 467,459 614,391
SHAREHOLDERS' FUNDS 467,559 614,595

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.

TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





T Ponzetta - Director


TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

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


1. STATUTORY INFORMATION

Total Parking Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05676135

Registered office: 3 Kings Court
Kettering Venture Park
Kettering
Northamptonshire
NN15 6WJ

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

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 - 10% on cost
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss 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.


TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

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.

Hire purchase and leasing commitments
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 77 (2022 - 79 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2023 1,547,019
Additions 203,835
At 31 December 2023 1,750,854
DEPRECIATION
At 1 January 2023 986,060
Charge for year 137,512
At 31 December 2023 1,123,572
NET BOOK VALUE
At 31 December 2023 627,282
At 31 December 2022 560,959

TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

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


4. TANGIBLE FIXED ASSETS - continued

Plant and machinery was revalued at open market value by the directors as at 31 March 2015. This value has been adopted as deemed cost of the assets concerned on transition to FRS 102.

The comparable amounts at original cost were:
Totals
£
Cost887,050
Depreciation(464,063)
Net Book Value422,987


5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts and finance leases 173,217 60,821

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares of £1 each 1 100 100

7. OTHER FINANCIAL COMMITMENTS

Not included in the balance sheet are financial commitments, in the form of operating leases, amounting to £129,902 (2022: £131,630).

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
T Ponzetta
Balance outstanding at start of year - -
Amounts advanced 74,727 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 74,727 -

Interest is charged on loan advances at HMRC beneficial loan interest rates.