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Registered number: 10027330
Parkerrose Interiors Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10027330
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 181,163 147,593
181,163 147,593
CURRENT ASSETS
Stocks 5 70,000 70,000
Debtors 6 147,773 58,715
Cash at bank and in hand 7,364 45,257
225,137 173,972
Creditors: Amounts Falling Due Within One Year 7 (256,830 ) (165,296 )
NET CURRENT ASSETS (LIABILITIES) (31,693 ) 8,676
TOTAL ASSETS LESS CURRENT LIABILITIES 149,470 156,269
Creditors: Amounts Falling Due After More Than One Year 8 (110,442 ) (110,442 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,421 ) (28,043 )
NET ASSETS 4,607 17,784
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 4,507 17,684
SHAREHOLDERS' FUNDS 4,607 17,784
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For the year ending 29 February 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S A Rose
Director
8th October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Parkerrose Interiors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10027330 . The registered office is Unit 4, Joiner Court, St. Ives, Cambridgeshire, PE27 3LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. 
2.5. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 183,601 11,345 5,643 200,589
Additions 54,506 - - 54,506
As at 29 February 2024 238,107 11,345 5,643 255,095
Depreciation
As at 1 March 2023 40,846 8,294 3,856 52,996
Provided during the period 19,726 763 447 20,936
As at 29 February 2024 60,572 9,057 4,303 73,932
Net Book Value
As at 29 February 2024 177,535 2,288 1,340 181,163
As at 1 March 2023 142,755 3,051 1,787 147,593
5. Stocks
2024 2023
£ £
Stock 70,000 70,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 71,116 41,420
Other debtors 76,657 17,295
147,773 58,715
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,374
Trade creditors 121,926 104,776
Bank loans and overdrafts 114,513 35,194
Other creditors 10,350 7,596
Taxation and social security 10,041 16,356
256,830 165,296
The loans are secured by personal guarantees from the directors.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 110,442 110,442
The loans are secured by personal guarantees from the directors. 
9. Directors Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Rory Parker 1,713 30,763 (1,713 ) - 30,763
Mr Simon Rose 1,714 30,763 (1,714 ) - 30,763
10. Ultimate Controlling Party
The company was controlled throughout the year by the directors who own 100% of the issued share capital.
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