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REGISTERED NUMBER: 04389074 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Parkwood Employment Service Limited

Parkwood Employment Service Limited (Registered number: 04389074)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Parkwood Employment Service Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr. K Parkin





SECRETARY:





REGISTERED OFFICE: 6 Trinity Place
Midland Drive
Sutton Coldfield
B72 1TX





REGISTERED NUMBER: 04389074 (England and Wales)





ACCOUNTANTS: Screatons Ltd
Former Atherstone College
Ratcliffe Road
Atherstone
Warwickshire
CV9 1LF

Parkwood Employment Service Limited (Registered number: 04389074)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,885 9,907

CURRENT ASSETS
Stocks 17,750 -
Debtors 5 621,713 886,226
Cash at bank 123,665 65,440
763,128 951,666
CREDITORS
Amounts falling due within one year 6 497,654 682,087
NET CURRENT ASSETS 265,474 269,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

274,359

279,486

CREDITORS
Amounts falling due after more than one year 7 33,502 39,581
NET ASSETS 240,857 239,905

CAPITAL AND RESERVES
Called up share capital 8 60 60
Capital redemption reserve 9 (79,960 ) (79,960 )
Retained earnings 9 320,757 319,805
SHAREHOLDERS' FUNDS 240,857 239,905

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

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

Parkwood Employment Service Limited (Registered number: 04389074)

Balance Sheet - continued
31 March 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 11 July 2024 and were signed by:





Mr. K Parkin - Director


Parkwood Employment Service Limited (Registered number: 04389074)

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

1. STATUTORY INFORMATION

Parkwood Employment Service 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 6 (2023 - 6 ) .

Parkwood Employment Service Limited (Registered number: 04389074)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 7,504 44,751 52,255
Additions - 1,861 1,861
Disposals (442 ) - (442 )
At 31 March 2024 7,062 46,612 53,674
DEPRECIATION
At 1 April 2023 4,599 37,749 42,348
Charge for year 1,103 1,780 2,883
Eliminated on disposal (442 ) - (442 )
At 31 March 2024 5,260 39,529 44,789
NET BOOK VALUE
At 31 March 2024 1,802 7,083 8,885
At 31 March 2023 2,905 7,002 9,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 499,203 750,129
Other debtors 38,607 32,274
Prepayments and accrued income 83,903 103,823
621,713 886,226

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 1,615
Trade creditors 3,389 8,813
Factoring creditor 245,255 425,781
Tax 10,947 12,838
Social security and other taxes 34,810 26,241
VAT 59,362 56,677
Other creditors - 2,086
Directors' current accounts 72,708 51,045
Accrued expenses 71,183 96,991
497,654 682,087

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other loans - 1-2 years 33,502 39,581

Parkwood Employment Service Limited (Registered number: 04389074)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
60 Ordinary £1 60 60

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 319,805 (79,960 ) 239,845
Profit for the year 39,152 39,152
Dividends (38,200 ) (38,200 )
At 31 March 2024 320,757 (79,960 ) 240,797

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,200 (2023 - £38,100) were paid to the director .

Mr K Parkin is both a director and the sole shareholder of the company.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr K Parkin who owns all of the issued share capital of the company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Parkwood Employment Service Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parkwood Employment Service Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Parkwood Employment Service Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkwood Employment Service Limited and state those matters that we have agreed to state to the director of Parkwood Employment Service Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkwood Employment Service Limited and its director for our work or for this report.

It is your duty to ensure that Parkwood Employment Service Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Parkwood Employment Service Limited. You consider that Parkwood Employment Service Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parkwood Employment Service Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Screatons Ltd
Former Atherstone College
Ratcliffe Road
Atherstone
Warwickshire
CV9 1LF


11 July 2024