IRIS Accounts Production v24.3.2.46 03176422 director 1.8.23 31.7.24 31.7.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031764222023-07-31031764222024-07-31031764222023-08-012024-07-31031764222022-07-31031764222022-08-012023-07-31031764222023-07-3103176422ns15:EnglandWales2023-08-012024-07-3103176422ns14:PoundSterling2023-08-012024-07-3103176422ns10:Director12023-08-012024-07-3103176422ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3103176422ns10:SmallEntities2023-08-012024-07-3103176422ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3103176422ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3103176422ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3103176422ns10:FullAccounts2023-08-012024-07-310317642212023-08-012024-07-3103176422ns10:RegisteredOffice2023-08-012024-07-3103176422ns5:CurrentFinancialInstruments2024-07-3103176422ns5:CurrentFinancialInstruments2023-07-3103176422ns5:ShareCapital2024-07-3103176422ns5:ShareCapital2023-07-3103176422ns5:CapitalRedemptionReserve2024-07-3103176422ns5:CapitalRedemptionReserve2023-07-3103176422ns5:RetainedEarningsAccumulatedLosses2024-07-3103176422ns5:RetainedEarningsAccumulatedLosses2023-07-3103176422ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3103176422ns5:ComputerSoftware2023-08-012024-07-3103176422ns5:LeaseholdImprovements2023-08-012024-07-3103176422ns5:PlantMachinery2023-08-012024-07-3103176422ns5:FurnitureFittings2023-08-012024-07-3103176422ns5:MotorVehicles2023-08-012024-07-3103176422ns5:ComputerSoftware2023-07-3103176422ns5:ComputerSoftware2024-07-3103176422ns5:ComputerSoftware2023-07-3103176422ns5:LeaseholdImprovements2023-07-3103176422ns5:PlantMachinery2023-07-3103176422ns5:FurnitureFittings2023-07-3103176422ns5:MotorVehicles2023-07-3103176422ns5:LeaseholdImprovements2024-07-3103176422ns5:PlantMachinery2024-07-3103176422ns5:FurnitureFittings2024-07-3103176422ns5:MotorVehicles2024-07-3103176422ns5:LeaseholdImprovements2023-07-3103176422ns5:PlantMachinery2023-07-3103176422ns5:FurnitureFittings2023-07-3103176422ns5:MotorVehicles2023-07-3103176422ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3103176422ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 03176422 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 July 2024

for

Park Safe (Systems) Limited

Park Safe (Systems) Limited (Registered number: 03176422)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Park Safe (Systems) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: D Forster-Constance





REGISTERED OFFICE: Chatsworth Workshops
Shottle
Belper
Derbyshire
DE56 2DS





REGISTERED NUMBER: 03176422 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Park Safe (Systems) Limited (Registered number: 03176422)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,750
Tangible assets 5 35,202 13,757
35,202 16,507

CURRENT ASSETS
Debtors 6 167,488 97,515
Cash at bank 257,782 370,455
425,270 467,970
CREDITORS
Amounts falling due within one year 7 35,930 56,490
NET CURRENT ASSETS 389,340 411,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

424,542

427,987

PROVISIONS FOR LIABILITIES 3,000 2,802
NET ASSETS 421,542 425,185

CAPITAL AND RESERVES
Called up share capital 73 73
Capital redemption reserve 27 27
Retained earnings 421,442 425,085
SHAREHOLDERS' FUNDS 421,542 425,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 6 January 2025 and were signed by:




D Forster-Constance - Director


Park Safe (Systems) Limited (Registered number: 03176422)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Park Safe (Systems) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the risks and rewards of the provision of the service has been transferred to the customer.This is usually at the point that the service has been performed.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

Park Safe (Systems) Limited (Registered number: 03176422)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2023
and 31 July 2024 11,000
AMORTISATION
At 1 August 2023 8,250
Amortisation for year 2,750
At 31 July 2024 11,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 2,750

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 66,199 234,908 5,700 41,633 348,440
Additions - 28,560 - - 28,560
At 31 July 2024 66,199 263,468 5,700 41,633 377,000
DEPRECIATION
At 1 August 2023 65,228 229,769 2,839 36,847 334,683
Charge for year 146 5,055 716 1,198 7,115
At 31 July 2024 65,374 234,824 3,555 38,045 341,798
NET BOOK VALUE
At 31 July 2024 825 28,644 2,145 3,588 35,202
At 31 July 2023 971 5,139 2,861 4,786 13,757

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 145,826 76,200
Other debtors 21,662 21,315
167,488 97,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,186 9,088
Taxation and social security 24,663 41,654
Other creditors 6,081 5,748
35,930 56,490