BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is wholesale of food, cleaning and packaging supplies. 24 September 2024 35 33 NI058012 2024-05-31 NI058012 2023-05-31 NI058012 2022-05-31 NI058012 2023-06-01 2024-05-31 NI058012 2022-06-01 2023-05-31 NI058012 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI058012 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI058012 uk-bus:AbridgedAccounts 2023-06-01 2024-05-31 NI058012 uk-core:ShareCapital 2024-05-31 NI058012 uk-core:ShareCapital 2023-05-31 NI058012 uk-core:OtherReservesSubtotal 2024-05-31 NI058012 uk-core:OtherReservesSubtotal 2023-05-31 NI058012 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI058012 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI058012 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI058012 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI058012 uk-bus:FRS102 2023-06-01 2024-05-31 NI058012 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI058012 uk-core:MotorVehicles 2023-06-01 2024-05-31 NI058012 uk-core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 NI058012 uk-core:ParentEntities 2023-06-01 2024-05-31 NI058012 uk-countries:NorthernIreland 2023-06-01 2024-05-31 NI058012 uk-bus:Director1 2023-06-01 2024-05-31 NI058012 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI058012
 
 
Parkview Provisions Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 May 2024
Parkview Provisions Limited
Company Registration Number: NI058012
ABRIDGED BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 409,994 560,028
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Current Assets
Stocks 743,149 694,194
Debtors 1,182,198 1,269,562
Cash and cash equivalents 1,357,830 465,863
───────── ─────────
3,283,177 2,429,619
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Creditors: amounts falling due within one year (2,033,341) (1,802,663)
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Net Current Assets 1,249,836 626,956
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Total Assets less Current Liabilities 1,659,830 1,186,984
 
Creditors:
amounts falling due after more than one year - (25,021)
 
Provisions for liabilities (79,675) (96,786)
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Net Assets 1,580,155 1,065,177
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Capital and Reserves
Called up share capital 100 100
Other reserves (300,040) (300,040)
Retained earnings 1,880,095 1,365,117
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Equity attributable to owners of the company 1,580,155 1,065,177
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 24 September 2024 and signed on its behalf by
           
           
________________________________          
Martin White          
Director          
           



Parkview Provisions Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
Parkview Provisions Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI058012. The registered office of the company is Unit 7I Springhill Road, Carnbane Industrial Estate, Newry, Down, BT35 6EF which is also the principal place of business of the company. The principal activity of the company is wholesale of food, cleaning and packaging supplies. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 12.5% Straight line
  Motor vehicles - 12.5% Straight line
  Computer Software - 12.5% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 35, (2023 - 33).
 
  2024 2023
  Number Number
 
Staff 35 33
  ═════════ ═════════
           
4. Tangible assets
  Fixtures, Motor Computer Total
  fittings and vehicles Software  
  equipment      
  £ £ £ £
Cost
At 1 June 2023 438,554 357,864 209,924 1,006,342
Additions 28,391 96,600 - 124,991
Disposals (42,670) (20,800) (144,757) (208,227)
  ───────── ───────── ───────── ─────────
At 31 May 2024 424,275 433,664 65,167 923,106
  ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 212,176 201,234 32,904 446,314
Charge for the financial year 34,757 43,992 8,146 86,895
On disposals (5,334) (14,763) - (20,097)
  ───────── ───────── ───────── ─────────
At 31 May 2024 241,599 230,463 41,050 513,112
  ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 182,676 203,201 24,117 409,994
  ═════════ ═════════ ═════════ ═════════
At 31 May 2023 226,378 156,630 177,020 560,028
  ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
   
6. Parent company
 
The company regards Parkview Provisions Holdings Limited as its parent company.
 
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.