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REGISTERED NUMBER: 07918744 (England and Wales)










Unaudited Financial Statements for the Year Ended 29 February 2024

for

Parkins Accountants Ltd
T/A
Parkins, Chartered Accountants

Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parkins Accountants Ltd
T/A Parkins, Chartered Accountants

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R D Parkin
J R Parkin





SECRETARY: Mrs K Parkin





REGISTERED OFFICE: Moor Park House
Bawtry Rd
Wickersley
Rotherham
S66 2BL





REGISTERED NUMBER: 07918744 (England and Wales)





ACCOUNTANTS: Parkins Accountants Ltd
T/A, Parkins, Chartered Accountants
Moor Park House
Bawtry Rd
Wickersley
Rotherham
South Yorkshire
S66 2BL

Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 55,000 82,500
Tangible assets 5 70,589 58,935
125,589 141,435

CURRENT ASSETS
Stocks 51,147 70,120
Debtors 6 189,799 132,954
Cash at bank 423,522 303,585
664,468 506,659
CREDITORS
Amounts falling due within one year 7 345,142 373,631
NET CURRENT ASSETS 319,326 133,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,915

274,463

PROVISIONS FOR LIABILITIES 15,842 9,738
NET ASSETS 429,073 264,725

CAPITAL AND RESERVES
Called up share capital 290 290
Retained earnings 428,783 264,435
SHAREHOLDERS' FUNDS 429,073 264,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants

Balance Sheet - continued
29 February 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 Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





R D Parkin - Director


Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Parkins Accountants Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% 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.

Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 21 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 275,000
AMORTISATION
At 1 March 2023 192,500
Charge for year 27,500
At 29 February 2024 220,000
NET BOOK VALUE
At 29 February 2024 55,000
At 28 February 2023 82,500

Parkins Accountants Ltd (Registered number: 07918744)
T/A Parkins, Chartered Accountants

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 145,369
Additions 37,144
At 29 February 2024 182,513
DEPRECIATION
At 1 March 2023 86,434
Charge for year 25,490
At 29 February 2024 111,924
NET BOOK VALUE
At 29 February 2024 70,589
At 28 February 2023 58,935

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 141,274 86,447
Other debtors 48,525 46,507
189,799 132,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 162,624
Trade creditors 15,427 -
Taxation and social security 201,282 135,239
Other creditors 128,433 75,768
345,142 373,631