1 June 2023 false No description of principal activity Taxfiler 2024.5 05819351business:PrivateLimitedCompanyLtd2023-06-012024-05-31 058193512023-05-31 058193512023-06-012024-05-31 05819351business:AuditExemptWithAccountantsReport2023-06-012024-05-31 05819351business:FilletedAccounts2023-06-012024-05-31 058193512024-05-31 05819351business:Director12023-06-012024-05-31 05819351business:CompanySecretary12023-06-012024-05-31 05819351business:RegisteredOffice2023-06-012024-05-31 058193512023-05-31 05819351core:WithinOneYear2024-05-31 05819351core:WithinOneYear2023-05-31 05819351core:AfterOneYear2024-05-31 05819351core:AfterOneYear2023-05-31 05819351core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 05819351core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 05819351core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 05819351core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 05819351core:PreviouslyStatedAmount2024-05-31 05819351core:PreviouslyStatedAmount2023-05-31 05819351business:SmallEntities2023-06-012024-05-31 05819351countries:EnglandWales2023-06-012024-05-31 05819351core:PlantMachinery2023-06-012024-05-31 05819351core:MotorVehicles2023-06-012024-05-31 05819351core:PlantMachinery2023-05-31 05819351core:MotorVehicles2023-05-31 05819351core:PlantMachinery2024-05-31 05819351core:MotorVehicles2024-05-31 058193512022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. 05819351 (England and Wales)
Sean Parker Ltd Unaudited accounts for the year ended 31 May 2024
Sean Parker Ltd Unaudited accounts Contents
Page
- 2 -
Sean Parker Ltd Company Information for the year ended 31 May 2024
Director
S B Parker
Secretary
E M Parker
Company Number
05819351 (England and Wales)
Registered Office
THE ORCHARD MITHIAN ST AGNES CORNWALL ENGLAND
Accountants
Gain Accountancy Ltd The Orchard Mithian St Agnes Cornwall TR5 0QF
- 3 -
Sean Parker Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
99,312 
116,787 
Current assets
Inventories
170,995 
120,418 
Debtors
62,497 
117,769 
Cash at bank and in hand
121,114 
60,051 
354,606 
298,238 
Creditors: amounts falling due within one year
(237,058)
(173,610)
Net current assets
117,548 
124,628 
Total assets less current liabilities
216,860 
241,415 
Creditors: amounts falling due after more than one year
(71,083)
(140,060)
Provisions for liabilities
Deferred tax
(9,867)
(3,326)
Net assets
135,910 
98,029 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
135,810 
97,929 
Shareholders' funds
135,910 
98,029 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 August 2024 and were signed on its behalf by
S B Parker Director Company Registration No. 05819351
- 4 -
Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Sean Parker Ltd is a private company, limited by shares, registered in England and Wales, registration number 05819351. The registered office is THE ORCHARD, MITHIAN, ST AGNES, CORNWALL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance and 20% on reducing balance
Motor vehicles
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 in other comprehensive income or directly in equity. 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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current or deferred tax assets and liabilities are not discounted.
- 5 -
Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
108,583 
115,552 
224,135 
Additions
11,062 
- 
11,062 
At 31 May 2024
119,645 
115,552 
235,197 
Depreciation
At 1 June 2023
50,821 
56,527 
107,348 
Charge for the year
13,781 
14,756 
28,537 
At 31 May 2024
64,602 
71,283 
135,885 
Net book value
At 31 May 2024
55,043 
44,269 
99,312 
At 31 May 2023
57,762 
59,025 
116,787 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,661 
73,724 
Accrued income and prepayments
5,796 
4,742 
Other debtors
50,040 
39,303 
62,497 
117,769 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
58,022 
53,546 
Obligations under finance leases and hire purchase contracts
10,938 
12,250 
Trade creditors
102,949 
63,023 
Taxes and social security
61,580 
44,174 
Other creditors
97 
436 
Accruals
3,472 
181 
237,058 
173,610 
- 6 -
Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
39,916 
97,955 
Obligations under finance leases and hire purchase contracts
31,167 
42,105 
71,083 
140,060 
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).
- 7 -