Registered number
10715995
Parkes Construction (Whitby) Ltd
Unaudited Filleted Accounts
31 March 2024
Parkes Construction (Whitby) Ltd
Registered number: 10715995
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 166,411 168,485
Current assets
Stocks 35,000 35,479
Debtors 4 163,818 40,577
Cash at bank and in hand - 24,171
198,818 100,227
Creditors: amounts falling due within one year 5 (104,465) (108,342)
Net current assets/(liabilities) 94,353 (8,115)
Total assets less current liabilities 260,764 160,370
Creditors: amounts falling due after more than one year 6 (126,702) (84,438)
Provisions for liabilities (31,618) (30,682)
Net assets 102,444 45,250
Capital and reserves
Called up share capital 100 100
Profit and loss account 102,344 45,150
Shareholders' funds 102,444 45,250
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Parkes
Director
Approved by the board on 27 June 2024
Parkes Construction (Whitby) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance.
Motor vehicles 20% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 91,984 188,871 280,855
Additions 1,139 41,455 42,594
Disposals - (41,337) (41,337)
At 31 March 2024 93,123 188,989 282,112
Depreciation
At 1 April 2023 31,212 81,158 112,370
Charge for the year 6,196 17,308 23,504
On disposals - (20,173) (20,173)
At 31 March 2024 37,408 78,293 115,701
Net book value
At 31 March 2024 55,715 110,696 166,411
At 31 March 2023 60,772 107,713 168,485
4 Debtors 2024 2023
£ £
Trade debtors 156,053 34,485
Other debtors 7,765 6,092
163,818 40,577
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,326 -
Trade creditors 54,120 79,656
Taxation and social security costs 12,752 12,902
Other creditors 34,267 15,784
104,465 108,342
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other loans 31,824 32,064
Obligations under finance lease and hire purchase contracts 94,878 52,374
126,702 84,438
7 Other information
Parkes Construction (Whitby) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Meadow Croft
Ugthorpe
Whitby
North Yorkshire
YO21 2BL
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