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Registered number: 04369441
Total Parking & Lifting Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04369441
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,702 25,361
66,702 25,361
CURRENT ASSETS
Stocks 5 5,675 5,675
Debtors 6 346,967 455,847
Cash at bank and in hand 213,891 146,763
566,533 608,285
Creditors: Amounts Falling Due Within One Year 7 (365,213 ) (489,189 )
NET CURRENT ASSETS (LIABILITIES) 201,320 119,096
TOTAL ASSETS LESS CURRENT LIABILITIES 268,022 144,457
Creditors: Amounts Falling Due After More Than One Year 8 (68,100 ) (47,876 )
NET ASSETS 199,922 96,581
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 199,920 96,579
SHAREHOLDERS' FUNDS 199,922 96,581
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Edge
Director
16th September 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Total Parking & Lifting Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04369441 . The registered office is 2 Exeter House Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 7)
6 7
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 27,298 41,779 4,184 11,494 84,755
Additions - 66,770 - - 66,770
Disposals - (24,910 ) - - (24,910 )
As at 31 December 2023 27,298 83,639 4,184 11,494 126,615
Depreciation
As at 1 January 2023 22,831 29,018 861 6,684 59,394
Provided during the period 1,117 13,520 831 1,203 16,671
Disposals - (16,152 ) - - (16,152 )
As at 31 December 2023 23,948 26,386 1,692 7,887 59,913
Net Book Value
As at 31 December 2023 3,350 57,253 2,492 3,607 66,702
As at 1 January 2023 4,467 12,761 3,323 4,810 25,361
5. Stocks
2023 2022
£ £
Stock 5,675 5,675
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 142,999 265,995
Amounts recoverable on contracts 11,935 64,977
Other debtors 191,033 123,875
Director's loan account 1,000 1,000
346,967 455,847
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,731 3,474
Trade creditors 109,229 137,730
Bank loans and overdrafts 5,556 5,556
Corporation tax 16,483 29,970
PAYE and NIC creditor 11,324 10,371
VAT 77,599 85,553
Other creditors 135,569 210,175
Pension contributions unpaid 1,822 1,875
Accruals and deferred income 2,900 4,485
365,213 489,189
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 37,084 11,302
Bank loans 31,016 36,574
68,100 47,876
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,731 3,474
Later than one year and not later than five years 37,084 11,302
41,815 14,776
41,815 14,776
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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2023
2022
No.
£
No.
£
Ordinary A of £0.01 each
160
2
160
2
Ordinary B of £0.01 each
20
-
20
-
Ordinary C of £0.01 each
20
image
-
image
20
image
-
image
200
image
2
image
200
image
2
image
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr James Edge 1,000 - - - 1,000
The above loan is unsecured, interest free and repayable on demand.
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