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Company registration number: 09493851
D.Parker & Son Ltd
Unaudited filleted financial statements
31 March 2024
D.Parker & Son Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
D.Parker & Son Ltd
Directors and other information
Directors Mr Daniel Peter Parker
Miss Victoria Joanne Castle
Company number 09493851
Registered office Avery House
8 Avery Hill Road
New Eltham
London
SE9 2BD
Business address 4 Central Avenue
Wallington
Surrey
SM6 8NX
Accountants Pritchard Fellows & Co Ltd
Avery House
8 Avery Hill Road
New Eltham
London
SE9 2BD
Bankers Santander UK plc
D.Parker & Son Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 15,042 22,562
Tangible assets 6 54,334 28,670
_______ _______
69,376 51,232
Current assets
Stocks 18,500 19,500
Debtors 7 97,788 121,399
Cash at bank and in hand 60,252 64,150
_______ _______
176,540 205,049
Creditors: amounts falling due
within one year 8 ( 104,498) ( 128,123)
_______ _______
Net current assets 72,042 76,926
_______ _______
Total assets less current liabilities 141,418 128,158
Creditors: amounts falling due
after more than one year 9 ( 74,545) ( 52,624)
_______ _______
Net assets 66,873 75,534
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 66,773 75,434
_______ _______
Shareholders funds 66,873 75,534
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
Mr Daniel Peter Parker
Director
Company registration number: 09493851
D.Parker & Son Ltd
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 100 52,690 52,790
Profit for the year 104,744 104,744
_______ _______ _______
Total comprehensive income for the year - 104,744 104,744
Dividends paid and payable ( 82,000) ( 82,000)
_______ _______ _______
Total investments by and distributions to owners - ( 82,000) ( 82,000)
_______ _______ _______
At 31 March 2023 and 1 April 2023 100 75,434 75,534
Profit for the year 72,839 72,839
_______ _______ _______
Total comprehensive income for the year - 72,839 72,839
Dividends paid and payable ( 81,500) ( 81,500)
_______ _______ _______
Total investments by and distributions to owners - ( 81,500) ( 81,500)
_______ _______ _______
At 31 March 2024 100 66,773 66,873
_______ _______ _______
D.Parker & Son Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Avery House, 8 Avery Hill Road, New Eltham, London, SE9 2BD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Estimated useful economic life of 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25% Straight Line Basis
Motor vehicles - 25% Straight Line Basis
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 13 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2023 and 31 March 2024 79,160 79,160
_______ _______
Amortisation
At 1 April 2023 56,598 56,598
Charge for the year 7,520 7,520
_______ _______
At 31 March 2024 64,118 64,118
_______ _______
Carrying amount
At 31 March 2024 15,042 15,042
_______ _______
At 31 March 2023 22,562 22,562
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Tangible assets - user defined Total
£ £ £ £
Cost
At 1 April 2023 55,961 19,995 3,149 79,105
Additions 1,138 47,805 - 48,943
_______ _______ _______ _______
At 31 March 2024 57,099 67,800 3,149 128,048
_______ _______ _______ _______
Depreciation
At 1 April 2023 42,866 4,999 2,571 50,436
Charge for the year 7,002 15,700 576 23,278
_______ _______ _______ _______
At 31 March 2024 49,868 20,699 3,147 73,714
_______ _______ _______ _______
Carrying amount
At 31 March 2024 7,231 47,101 2 54,334
_______ _______ _______ _______
At 31 March 2023 13,095 14,996 578 28,669
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 87,987 108,781
Other debtors 9,801 12,618
_______ _______
97,788 121,399
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,556 5,556
Trade creditors 57,405 57,404
Corporation tax 16,453 20,352
Social security and other taxes 4,485 5,064
Other creditors 20,599 39,747
_______ _______
104,498 128,123
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 74,545 52,624
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Daniel Peter Parker ( 29,884) 28,392 ( 1,492)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Daniel Peter Parker ( 33,759) 3,875 ( 29,884)
_______ _______ _______