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REGISTERED NUMBER: SC040009 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PARKER BROS. (KILMARNOCK) LIMITED

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)






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


PARKER BROS. (KILMARNOCK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R Parker
Mrs F M Parker





REGISTERED OFFICE: 26 Portland Road
Kilmarnock
KA1 2EB





REGISTERED NUMBER: SC040009 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 150,480 154,641
150,480 154,641

CURRENT ASSETS
Stocks - 3,727
Debtors 6 - 612
Cash at bank 1,680 22,173
1,680 26,512
CREDITORS
Amounts falling due within one year 7 45,530 53,445
NET CURRENT LIABILITIES (43,850 ) (26,933 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,630

127,708

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 8 103,266 103,266
Retained earnings (16,636 ) 4,442
SHAREHOLDERS' FUNDS 106,630 127,708

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.

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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 27 November 2024 and were signed on its behalf by:





R Parker - Director


PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Parker Bros. (Kilmarnock) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to a single company.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the net invoiced sales of disability scooters and related products, stated net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 8,000
AMORTISATION
At 1 March 2023
and 29 February 2024 8,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 150,000 49,027 199,027
Transfer to ownership - (1 ) (1 )
At 29 February 2024 150,000 49,026 199,026
DEPRECIATION
At 1 March 2023 - 44,386 44,386
Charge for year 3,000 1,160 4,160
At 29 February 2024 3,000 45,546 48,546
NET BOOK VALUE
At 29 February 2024 147,000 3,480 150,480
At 28 February 2023 150,000 4,641 154,641

Cost or valuation at 29 February 2024 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2023 60,448 - 60,448
Cost 89,552 49,026 138,578
150,000 49,026 199,026

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 89,552 89,552
Aggregate depreciation 44,610 42,819

Value of land in freehold land and buildings 44,942 46,733

Freehold land and buildings were valued on an open market basis on 28 February 2023 by an independent surveyor .

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2023 19,337
Transfer to ownership (19,337 )
At 29 February 2024 -
DEPRECIATION
At 1 March 2023 13,667
Transfer to ownership (13,667 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 5,670

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 612

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 3,266
Taxation and social security 2,554 4,093
Other creditors 42,976 46,086
45,530 53,445

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 103,266

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Parker and his wife Fiona.