Company Registration No. 05374878 (England and Wales)
JAMES HOLYOAK & PARKER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
JAMES HOLYOAK & PARKER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
JAMES HOLYOAK & PARKER LIMITED
COMPANY INFORMATION
Directors
Nerys Parker
Jonathan Rimmer
Robert Humphreys
Secretary
Jonathan Rimmer
Company number
05374878
Registered office
1 Knights Court
Archers Way
Battlefield Enterprise Park
Shrewsbury
SY1 3GA
Accountants
James Holyoak & Parker Limited
1 Knights Court
Archers Way
Battlefield Enterprise Park
Shrewsbury
SY1 3GA
Business address
1 Knights Court
Archers Way
Battlefield Enterprise Park
Shrewsbury
SY1 3GA
JAMES HOLYOAK & PARKER LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
38,750
77,500
Tangible assets
5
22,290
25,732
61,040
103,232
Current assets
Stocks
159,522
149,943
Debtors
6
228,481
253,680
Cash at bank and in hand
69,485
78,132
457,488
481,755
Creditors: amounts falling due within one year
7
(290,851)
(267,331)
Net current assets
166,637
214,424
Total assets less current liabilities
227,677
317,656
Creditors: amounts falling due after more than one year
8
(88,360)
(124,222)
Net assets
139,317
193,434
Capital and reserves
Called up share capital
3,509
3,581
Capital redemption reserve
191
119
Profit and loss reserves
135,617
189,734
Total equity
139,317
193,434
JAMES HOLYOAK & PARKER LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
For the financial year ended 30 April 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 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 Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Nerys Parker
Robert Humphreys
Director
Director
Company registration number 05374878 (England and Wales)
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
James Holyoak & Parker Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, SY1 3GA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of work done in the year, net of VAT. To the extent that there are contracts for ongoing services on hand at the year end, credit will be taken for amounts not invoiced at the year end after paying due regard to the stage of completion.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years. The directors have considered the requirements of FRS102, and are of the opinion that this remains an appropriate rate of amortisation.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
33% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks represent unbilled work in progress, recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is ignored to the extent that it is considered immaterial.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
22
22
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
775,000
Amortisation and impairment
At 1 May 2023
697,500
Amortisation charged for the year
38,750
At 30 April 2024
736,250
Carrying amount
At 30 April 2024
38,750
At 30 April 2023
77,500
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
48,562
57,783
12,729
119,074
Additions
5,234
968
6,202
Disposals
(5,543)
(10,572)
(16,115)
At 30 April 2024
48,253
48,179
12,729
109,161
Depreciation and impairment
At 1 May 2023
37,028
50,745
5,569
93,342
Depreciation charged in the year
5,462
1,944
1,790
9,196
Eliminated in respect of disposals
(5,327)
(10,340)
(15,667)
At 30 April 2024
37,163
42,349
7,359
86,871
Carrying amount
At 30 April 2024
11,090
5,830
5,370
22,290
At 30 April 2023
11,534
7,038
7,160
25,732
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
208,145
227,962
Other debtors
20,336
25,718
228,481
253,680
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
30,920
29,242
Trade creditors
27,983
41,743
Corporation tax
77,767
59,999
Other taxation and social security
107,162
102,603
Other creditors
47,019
33,744
290,851
267,331
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
88,360
118,267
Other creditors
5,955
88,360
124,222
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
34,919
45,417
10
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sales
Sales
2024
2023
£
£
Entities over which the entity has control, joint control or significant influence
5,000
5,000
JAMES HOLYOAK & PARKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
10
Related party transactions
(Continued)
- 8 -
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
319
1,487
11
Directors' transactions
Dividends totalling £228,480 (2023 - £190,410) were paid in the year in respect of shares held by the company's directors or companies controlled by the company's directors.
Bank loans and overdrafts are secured by way of personal guarantee.
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