Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2No description of principal activity2023-01-01false2truetruefalse 01694536 2023-01-01 2023-12-31 01694536 2022-01-01 2022-12-31 01694536 2023-12-31 01694536 2022-12-31 01694536 c:Director1 2023-01-01 2023-12-31 01694536 d:MotorVehicles 2023-01-01 2023-12-31 01694536 d:MotorVehicles 2023-12-31 01694536 d:MotorVehicles 2022-12-31 01694536 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01694536 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01694536 d:OfficeEquipment 2023-01-01 2023-12-31 01694536 d:OfficeEquipment 2023-12-31 01694536 d:OfficeEquipment 2022-12-31 01694536 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01694536 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01694536 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01694536 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01694536 d:CurrentFinancialInstruments 2023-12-31 01694536 d:CurrentFinancialInstruments 2022-12-31 01694536 d:Non-currentFinancialInstruments 2023-12-31 01694536 d:Non-currentFinancialInstruments 2022-12-31 01694536 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01694536 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01694536 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01694536 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01694536 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 01694536 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 01694536 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 01694536 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 01694536 d:ShareCapital 2023-12-31 01694536 d:ShareCapital 2022-12-31 01694536 d:RetainedEarningsAccumulatedLosses 2023-12-31 01694536 d:RetainedEarningsAccumulatedLosses 2022-12-31 01694536 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01694536 c:OrdinaryShareClass1 2023-12-31 01694536 c:OrdinaryShareClass1 2022-12-31 01694536 c:FRS102 2023-01-01 2023-12-31 01694536 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01694536 c:FullAccounts 2023-01-01 2023-12-31 01694536 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01694536 2 2023-01-01 2023-12-31 01694536 6 2023-01-01 2023-12-31 01694536 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01694536 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01694536 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01694536 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01694536 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 01694536 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 01694536 d:LeasedAssetsHeldAsLessee 2023-12-31 01694536 d:LeasedAssetsHeldAsLessee 2022-12-31 01694536 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01694536









MICHAEL PARKER HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MICHAEL PARKER HOLDINGS LIMITED
REGISTERED NUMBER: 01694536

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
41,476
51,844

Investments
 5 
39,999
39,999

  
81,475
91,843

Current assets
  

Debtors
 6 
84,038
255,407

Cash at bank and in hand
  
207,649
19,887

  
291,687
275,294

Creditors: amounts falling due within one year
 7 
(174,209)
(195,587)

Net current assets
  
 
 
117,478
 
 
79,707

Total assets less current liabilities
  
198,953
171,550

Creditors: amounts falling due after more than one year
 8 
(41,074)
(60,862)

Provisions for liabilities
  

Deferred tax
 10 
(7,880)
(9,817)

  
 
 
(7,880)
 
 
(9,817)

Net assets
  
149,999
100,871


Capital and reserves
  

Called up share capital 
 11 
149,452
149,452

Profit and loss account
  
547
(48,581)

  
149,999
100,871


Page 1

 
MICHAEL PARKER HOLDINGS LIMITED
REGISTERED NUMBER: 01694536
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2024.




M A Parker
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 01694536. The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, United Kingdom, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 4

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
59,490
32,252
91,742



At 31 December 2023

59,490
32,252
91,742



Depreciation


At 1 January 2023
11,898
28,000
39,898


Charge for the year on owned assets
-
850
850


Charge for the year on financed assets
9,518
-
9,518



At 31 December 2023

21,416
28,850
50,266



Net book value



At 31 December 2023
38,074
3,402
41,476



At 31 December 2022
47,592
4,252
51,844

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
38,074
47,592

38,074
47,592

Page 7

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
39,999



At 31 December 2023
39,999




The investment in subsidiary company held at the year end relates to a 100% shareholding in Surfglint Limited.  The registered office of Surfglint Limited is the same as the registered office of the parent company, being; Sterling House, 71 Francis Road, Edgbaston, Birmingham, United Kingdom, B16 8SP.
Surfglint Limited holds 99% of the share capital of Majorbeck Limited whose registered office is the same as the registered office of all other group companies.


6.


Debtors

2023
2022
£
£



Amounts owed by group undertakings
50,422
169,835

Other debtors
33,616
85,572

84,038
255,407



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,878
9,728

Trade creditors
1,856
1,707

Amounts owed to group undertakings
40,000
40,000

Obligations under finance lease and hire purchase contracts
9,767
9,202

Other creditors
103,558
10,800

Accruals and deferred income
9,150
124,150

174,209
195,587


Page 8

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,889
25,911

Net obligations under finance leases and hire purchase contracts
25,185
34,951

41,074
60,862


The following liabilities were secured:

2023
2022
£
£



Net obligations under finance leases and hire purchase contracts
34,952
44,153

34,952
44,153

Details of security provided:

Amounts due under finance lease and hire purchase contracts are secured against the asset to which they
relate.

Page 9

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,878
9,728


9,878
9,728

Amounts falling due 1-2 years

Bank loans
9,878
9,728


9,878
9,728

Amounts falling due 2-5 years

Bank loans
6,010
16,182


6,010
16,182


25,766
35,638


Page 10

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(9,817)


Utilised in year
1,937



At end of year
(7,880)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,880)
(9,851)

Tax losses carried forward
-
34

(7,880)
(9,817)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



149,452 (2022 - 149,452) Ordinary shares of £1.00 each
149,452
149,452



12.


Transactions with directors

Amounts due to the directors as at 31 December 2023 totalled £93,558 (2022- £39,915 due from the director).  Interest is charged on overdrawn amounts at an average of 2.00% (2022 - 2.00%) and loans are repayble on demand.


13.


Related party transactions

During the year the company made a loan of £9,000 (2022 - £25,000), settled amounts of £27,177 (2022 - £1,149) on behalf of a subsidiary company, and also had amounts of £155,590 (2022 - £7,976) settled by a subsidiary company.  Amounts due from the subsidiary company as at 31 December 2023 was £50,422 (2022 - £169,835).
The balance due to the parent company as at 31 December 2023 is £40,000 (2022 - £40,000).

Page 11

 
MICHAEL PARKER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Controlling party

The immediate and ultimate parent company is Kewmatic Limited, a company registered in England and Wales. The registered office of the parent company is Sterling House, 71 Francis Road, Edgbaston, Birmingham, United Kingdom, B16 8SP.

 
Page 12