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Registered number: 06834388
Park Holland Mechanical Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Wheelhouse Hulme
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06834388
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,577 20,315
15,577 20,315
CURRENT ASSETS
Stocks 5 18,400 6,000
Debtors 6 371,808 452,057
Cash at bank and in hand 139,291 275,840
529,499 733,897
Creditors: Amounts Falling Due Within One Year 7 (243,630 ) (445,396 )
NET CURRENT ASSETS (LIABILITIES) 285,869 288,501
TOTAL ASSETS LESS CURRENT LIABILITIES 301,446 308,816
Creditors: Amounts Falling Due After More Than One Year 8 (12,717 ) (20,717 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (2,960 ) (3,860 )
NET ASSETS 285,769 284,239
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 285,669 284,139
SHAREHOLDERS' FUNDS 285,769 284,239
Page 1
Page 2
For the year ending 31 March 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 Profit and Loss Account.
On behalf of the board
Mr Andrew Lafferty
Director
Mrs Emma Lafferty
Director
29/11/2024
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
Park Holland Mechanical Services Limited Registered number 06834388 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 5 Gatewarth Industrial Estate, Barnard Street, Warrington, Cheshire, WA5 1DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% per annum of net book value
Motor Vehicles 25% per annum of net book value
Fixtures & Fittings 25% per annum of net book value
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
Sales, marketing and distribution 1 1
Manufacturing 6 7
10 11
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 8,144 45,399 31,050 84,593
Additions - - 1,431 1,431
Disposals - (12,999 ) - (12,999 )
As at 31 March 2024 8,144 32,400 32,481 73,025
Depreciation
As at 1 April 2023 7,908 29,277 27,093 64,278
Provided during the period 59 3,786 1,347 5,192
Disposals - (12,022 ) - (12,022 )
As at 31 March 2024 7,967 21,041 28,440 57,448
Net Book Value
As at 31 March 2024 177 11,359 4,041 15,577
As at 1 April 2023 236 16,122 3,957 20,315
5. Stocks
2024 2023
£ £
Materials 18,400 6,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 328,252 415,045
Prepayments and accrued income 27,175 25,305
Other debtors 16,381 11,707
371,808 452,057
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 105,412 283,551
Bank loans and overdrafts 8,000 10,648
Corporation tax 2,450 17,189
Other taxes and social security 94,510 118,577
Other creditors 22,531 -
Accruals and deferred income 10,727 15,431
243,630 445,396
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,717 20,717
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 2,960 3,860
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr David Lafferty - 7,000
Mrs Emma Lafferty - 5,000
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 12,000
13. Controlling Party
The company's controlling party are the directors by virtue of their ownership of 80% of the issued share capital in the company.
Page 5