Company Registration No. 05490360 (England and Wales)
Ak & Ad Parker Limited
Unaudited accounts
for the year ended 31 March 2024
Ak & Ad Parker Limited
Unaudited accounts
Contents
Ak & Ad Parker Limited
Company Information
for the year ended 31 March 2024
Company Number
05490360 (England and Wales)
Registered Office
Pigeon House Farm
Todber
Sturminster Newton
DT10 1JB
Accountants
Simon John Christopher Ltd
1st Floor Suite, Drapers House
Market Place
Sturminster Newton
Dorset
DT10 1AS
Ak & Ad Parker Limited
Statement of financial position
as at 31 March 2024
Called up share capital not paid
(2)
(2)
Intangible assets
96,967
105,035
Tangible assets
85,726
101,701
Creditors: amounts falling due within one year
(459,457)
(495,234)
Net current assets
97,433
178,098
Total assets less current liabilities
280,124
384,832
Creditors: amounts falling due after more than one year
(109,702)
(215,475)
Provisions for liabilities
Deferred tax
(21,431)
(25,426)
Net assets
148,991
143,931
Profit and loss account
148,991
143,931
Shareholders' funds
148,991
143,931
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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2025 and were signed on its behalf by
ANDREW PARKER
Director
Company Registration No. 05490360
Ak & Ad Parker Limited
Notes to the Accounts
for the year ended 31 March 2024
Ak & Ad Parker Limited is a private company, limited by shares, registered in England and Wales, registration number 05490360. The registered office is Pigeon House Farm, Todber, Sturminster Newton, DT10 1JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
20% reducing balance
Biological assets are recognised only when three recognition criteria have been fulfilled:
· the entity has control over the asset as a result of past events;
· it is probable that future economic benefits associated with the asset will flow to the entity; and
· the fair value or cost of the asset can be measured reliably.
The company measures biological assets at cost less accumulated depreciation and accumulated impairment losses.
In respect of agricultural produce harvested from a biological asset, this is measured at the point of harvest at lower of
cost and estimated selling price less costs to complete and sell.
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:
Dairy 20% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Ak & Ad Parker Limited
Notes to the Accounts
for the year ended 31 March 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable
assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met.
Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or
receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 April 2023
20,025
171,874
191,899
Disposals
-
(44,800)
(44,800)
At 31 March 2024
20,025
144,912
164,937
At 1 April 2023
20,025
66,839
86,864
On disposals
-
(26,400)
(26,400)
Charge for the year
-
7,506
7,506
At 31 March 2024
20,025
47,945
67,970
At 31 March 2024
-
96,967
96,967
At 31 March 2023
-
105,035
105,035
Ak & Ad Parker Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
24,441
99,502
147,744
271,687
At 31 March 2024
24,441
99,502
147,744
271,687
At 1 April 2023
-
68,764
101,222
169,986
Charge for the year
-
4,610
11,365
15,975
At 31 March 2024
-
73,374
112,587
185,961
At 31 March 2024
24,441
26,128
35,157
85,726
At 31 March 2023
24,441
30,738
46,522
101,701
Amounts falling due within one year
Trade debtors
45,428
45,428
Accrued income and prepayments
110,065
133,155
Other debtors
354,327
448,936
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
42,761
78,108
Obligations under finance leases and hire purchase contracts
17,749
17,800
Trade creditors
147,452
147,452
Taxes and social security
247,282
247,789
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
19,966
32,272
Ak & Ad Parker Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to directors
416,528
211,516
297,442
330,602
416,528
211,516
297,442
330,602
During the year the company made advances to a director of £211,516 (2023: £240,598) and a director made
repayments of £297,442 (2023: £204,259). At the end of the accounting period a director owed the company £330,602
(2023: £416,528). The loan has an interest rate of 2.25%, is unsecured and has no repayment terms.
Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).