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REGISTERED NUMBER: 04047021 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PARKFIELD RETAIL LIMITED

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKFIELD RETAIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr D A Wagg
Mr P R Winnicott
Mrs J A Winnicott
Mr A R Winnicott





REGISTERED OFFICE: Joinery Mill
The Green
Rowlands Castle
Hampshire
PO9 6BW





REGISTERED NUMBER: 04047021 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,849 45,558
74,849 45,558

CURRENT ASSETS
Stocks 660,926 638,518
Debtors 6 178,010 91,359
Cash at bank and in hand 709,889 815,793
1,548,825 1,545,670
CREDITORS
Amounts falling due within one year 7 610,417 571,844
NET CURRENT ASSETS 938,408 973,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,013,257

1,019,384

PROVISIONS FOR LIABILITIES 9 14,221 8,656
NET ASSETS 999,036 1,010,728

CAPITAL AND RESERVES
Called up share capital 21,000 21,000
Retained earnings 978,036 989,728
SHAREHOLDERS' FUNDS 999,036 1,010,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

BALANCE SHEET - continued
31 JANUARY 2024


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 and authorised for issue by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mr A R Winnicott - Director


PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Parkfield Retail 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, 25% on cost and 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.

Stock is valued on a first in first out basis.

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.

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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 53 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 148,000
AMORTISATION
At 1 February 2023
and 31 January 2024 148,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023 417,733
Additions 59,921
Disposals (17,155 )
At 31 January 2024 460,499
DEPRECIATION
At 1 February 2023 372,175
Charge for year 23,393
Eliminated on disposal (9,918 )
At 31 January 2024 385,650
NET BOOK VALUE
At 31 January 2024 74,849
At 31 January 2023 45,558

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 10,176 16,495
Other debtors 167,834 74,864
178,010 91,359

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 255,992 264,996
Taxation and social security 216,690 192,404
Other creditors 137,735 114,444
610,417 571,844

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 266,000 -
Between one and five years 120,000 -
In more than five years 150,000 -
536,000 -

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 14,221 8,656

Deferred
tax
£   
Balance at 1 February 2023 8,656
Utilised during year 5,565
Balance at 31 January 2024 14,221

10. RELATED PARTY DISCLOSURES

The aggregate amount owed from connected companies at the balance sheet date is £96,457 (31.1.23 £12,231).

During the year the company made purchases from connected companies totalling £92,149 (31.1.23: £171,747).

During the year the company was charged administration costs from connected companies totalling £12,455 (31.1.23: £21,787).

During the year the company made sales to connected companies totalling £317,882 (31.1.23: £334,210).

PARKFIELD RETAIL LIMITED (REGISTERED NUMBER: 04047021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.