Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12025841 2024-03-31 12025841 2023-04-01 2024-03-31 12025841 2022-04-01 2023-03-31 12025841 2023-03-31 12025841 c:Director1 2023-04-01 2024-03-31 12025841 d:PlantMachinery 2023-04-01 2024-03-31 12025841 d:PlantMachinery 2024-03-31 12025841 d:PlantMachinery 2023-03-31 12025841 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12025841 d:MotorVehicles 2023-04-01 2024-03-31 12025841 d:MotorVehicles 2024-03-31 12025841 d:MotorVehicles 2023-03-31 12025841 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12025841 d:OfficeEquipment 2023-04-01 2024-03-31 12025841 d:OfficeEquipment 2024-03-31 12025841 d:OfficeEquipment 2023-03-31 12025841 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12025841 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12025841 d:OtherPropertyPlantEquipment 2024-03-31 12025841 d:OtherPropertyPlantEquipment 2023-03-31 12025841 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12025841 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12025841 d:CurrentFinancialInstruments 2024-03-31 12025841 d:CurrentFinancialInstruments 2023-03-31 12025841 d:Non-currentFinancialInstruments 2024-03-31 12025841 d:Non-currentFinancialInstruments 2023-03-31 12025841 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12025841 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12025841 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12025841 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12025841 d:ShareCapital 2024-03-31 12025841 d:ShareCapital 2023-03-31 12025841 d:RetainedEarningsAccumulatedLosses 2024-03-31 12025841 d:RetainedEarningsAccumulatedLosses 2023-03-31 12025841 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12025841 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12025841 c:FRS102 2023-04-01 2024-03-31 12025841 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12025841 c:FullAccounts 2023-04-01 2024-03-31 12025841 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12025841 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 12025841 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 12025841 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 12025841 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 12025841 2 2023-04-01 2024-03-31 12025841 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 12025841 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 12025841 d:LeasedAssetsHeldAsLessee 2024-03-31 12025841 d:LeasedAssetsHeldAsLessee 2023-03-31 12025841 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 12025841







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


PARK & MARINE SERVICES LIMITED






































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PARK & MARINE SERVICES LIMITED
REGISTERED NUMBER:12025841



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
164,897
222,189

  
164,897
222,189

Current assets
  

Debtors: amounts falling due within one year
 5 
288,775
182,599

Cash at bank and in hand
  
40,189
99,268

  
328,964
281,867

Creditors: amounts falling due within one year
 6 
(88,112)
(49,310)

Net current assets
  
 
 
240,852
 
 
232,557

Total assets less current liabilities
  
405,749
454,746

Creditors: amounts falling due after more than one year
 7 
(62,402)
(95,307)

Provisions for liabilities
  

Deferred tax
 9 
(26,554)
(31,246)

  
 
 
(26,554)
 
 
(31,246)

Net assets
  
316,793
328,193


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
316,693
328,093

  
316,793
328,193


Page 1

 


PARK & MARINE SERVICES LIMITED
REGISTERED NUMBER:12025841


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M. C. Annis
Director

Date: 28 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Park & Marine Services Limited is a Private Company limited by shares incorporated in England and Wales, in the  United Kingdom. The address of the registered office is shown on the Company information page, and the principal place of business is Yarwell Mill Country Park, Mill Road, Peterborough, PE8 6PZ. 
The principal activity of the Company continued to be that of a management company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have considered the going concern basis in preparing these financial statements. They have concluded that the going concern basis is appropriate because sufficient funds will be generated from future trading and continued support from associated companies for a period of at least twelve months from the date of the approval of these financial statements to enable the company to meet its liabilities as they arise.
The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
10-25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20-50% straight line
Other fixed assets
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
94,000
66,167

Social security costs
7,161
7,030

101,161
73,197


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
52,418
163,007
5,238
44,681
265,344


Additions
-
38,293
-
10,261
48,554


Disposals
-
(34,887)
-
(54,942)
(89,829)



At 31 March 2024

52,418
166,413
5,238
-
224,069



Depreciation


At 1 April 2023
11,144
21,017
1,686
9,308
43,155


Charge for the year
5,411
36,625
2,169
5,158
49,363


Disposals
-
(18,880)
-
(14,466)
(33,346)



At 31 March 2024

16,555
38,762
3,855
-
59,172



Net book value



At 31 March 2024
35,863
127,651
1,383
-
164,897



At 31 March 2023
41,274
141,990
3,552
35,373
222,189

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
92,086
122,782

92,086
122,782


5.


Debtors

2024
2023
£
£


Trade debtors
158,145
-

Other debtors
-
21,486

Prepayments and accrued income
130,630
157,686

Tax recoverable
-
3,427

288,775
182,599


Page 6

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
663
473

Corporation tax
14,081
2,951

Other taxation and social security
30,236
15,660

Obligations under finance lease and hire purchase contracts
21,139
26,461

Other creditors
18,993
-

Accruals and deferred income
3,000
3,765

88,112
49,310



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
62,402
95,307

62,402
95,307



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
21,139
26,461

Between 1-5 years
62,402
95,310

83,541
121,771


9.


Deferred taxation




2024


£






At beginning of year
(31,246)


Charged to profit or loss
4,692



At end of year
(26,554)

Page 7

 


PARK & MARINE SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(26,554)
(31,246)

(26,554)
(31,246)


10.


Related party transactions

During the year the Company entered into transactions with its Directors. The net amount payable to the Directors as at the year end totalled £7,331 (2023 - £12,326 payable by the Directors). This is shown within other creditors and other debtors and is unsecured and repayable on demand. Interest is charged on debtor balances at the beneficial rate of interest, resulting in interest receivable of £265 (2023 - £209) in the year ended 31 March 2024.
During the period the Company received management charges from a company under common control of £226,000 (2023 - £230,224).


11.


Controlling party

The ultimate controlling party is M. C. & E. L. Annis by virtue of their 100% shareholding in Park & Marine Services Limited.

 
Page 8