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Registered number: 06486709
Parc Canol Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
James Khan
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06486709
31 July 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 133,213 106,322
133,213 106,322
CURRENT ASSETS
Stocks 5 51,500 48,200
Debtors 458,374 419,540
Cash at bank and in hand 182,228 28,038
692,102 495,778
Creditors: Amounts Falling Due Within One Year (497,770 ) (430,584 )
NET CURRENT ASSETS (LIABILITIES) 194,332 65,194
TOTAL ASSETS LESS CURRENT LIABILITIES 327,545 171,516
Creditors: Amounts Falling Due After More Than One Year (238,970 ) (69,492 )
NET ASSETS 88,575 102,024
CAPITAL AND RESERVES
Called up share capital 6 104 104
Profit and Loss Account 88,471 101,920
SHAREHOLDERS' FUNDS 88,575 102,024
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Gareth Thomas
Director
25/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Parc Canol Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06486709 . The registered office is 55 Ridgeway Road, Rumney, Cardiff, CF3 4AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 13)
20 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 150,090 4,950 33,759 36,134 224,933
Additions 600 3,000 45,384 7,881 56,865
As at 31 July 2024 150,690 7,950 79,143 44,015 281,798
Depreciation
As at 1 August 2023 51,275 4,950 29,368 33,018 118,611
Provided during the period 24,829 750 2,456 1,939 29,974
As at 31 July 2024 76,104 5,700 31,824 34,957 148,585
Net Book Value
As at 31 July 2024 74,586 2,250 47,319 9,058 133,213
As at 1 August 2023 98,815 - 4,391 3,116 106,322
5. Stocks
31 July 2024 31 July 2023
£ £
Finished goods 51,500 48,200
6. Share Capital
31 July 2024 31 July 2023
£ £
Allotted, Called up and fully paid 104 104
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