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REGISTERED NUMBER: 07090876 (England and Wales)











Financial Statements

for the Year Ended 31 January 2024

for

Park Ceilings Limited

Park Ceilings Limited (Registered number: 07090876)

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


Park Ceilings Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: L Vitale





SECRETARY: C A Vitale





REGISTERED OFFICE: Park House
158C Derby Road
Heanor
Derbyshire
DE75 7QL





REGISTERED NUMBER: 07090876 (England and Wales)





ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB

Park Ceilings Limited (Registered number: 07090876)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,044 79,506

CURRENT ASSETS
Debtors 5 121,596 91,025
Cash at bank 432,146 324,986
553,742 416,011
CREDITORS
Amounts falling due within one year 6 96,723 86,903
NET CURRENT ASSETS 457,019 329,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

539,063

408,614

CREDITORS
Amounts falling due after more than one
year

7

(54,722

)

(63,632

)

PROVISIONS FOR LIABILITIES (15,840 ) (3,295 )
NET ASSETS 468,501 341,687

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 468,401 341,587
SHAREHOLDERS' FUNDS 468,501 341,687

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 director acknowledges his 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.

Park Ceilings Limited (Registered number: 07090876)

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 by the director and authorised for issue on 17 October 2024 and were signed by:





L Vitale - Director


Park Ceilings Limited (Registered number: 07090876)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Park Ceilings 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

Principal accounting policies
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.

The principal accounting policies adopted in the preparation of the Financial Statements are set out below and have been consistently applied within the same Financial Statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on cost

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.

Park Ceilings Limited (Registered number: 07090876)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 1,012 117,915 11,561 130,488
Additions - 55,970 1,225 57,195
Disposals - (50,065 ) - (50,065 )
At 31 January 2024 1,012 123,820 12,786 137,618
DEPRECIATION
At 1 February 2023 437 43,591 6,954 50,982
Charge for year 86 25,534 875 26,495
Eliminated on disposal - (21,903 ) - (21,903 )
At 31 January 2024 523 47,222 7,829 55,574
NET BOOK VALUE
At 31 January 2024 489 76,598 4,957 82,044
At 31 January 2023 575 74,324 4,607 79,506

Park Ceilings Limited (Registered number: 07090876)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 117,915
Additions 55,970
Disposals (50,065 )
At 31 January 2024 123,820
DEPRECIATION
At 1 February 2023 43,591
Charge for year 25,534
Eliminated on disposal (21,903 )
At 31 January 2024 47,222
NET BOOK VALUE
At 31 January 2024 76,598
At 31 January 2023 74,324

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 104,692 83,288
VAT 16,226 7,137
Prepayments 678 600
121,596 91,025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,177 14,117
Trade creditors 28,521 52,635
Corporation tax 29,806 3,591
Social security and other taxes 31 520
Other creditors 2,160 198
Directors' current accounts 3,397 7,522
Accruals 13,631 8,320
96,723 86,903

Park Ceilings Limited (Registered number: 07090876)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 54,722 63,632

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
L Vitale
Balance outstanding at start of year (7,522 ) (66 )
Amounts advanced 6,445 5,464
Amounts repaid (2,320 ) (12,920 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,397 ) (7,522 )