Company registration number 01234542 (England and Wales)
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
COMPANY INFORMATION
Directors
Mrs N Parker
Mr MJ Parker
Secretary
Mrs N Parker
Company number
01234542
Registered office
6 Octavian Way
Team Valley Trading Estate
Gateshead
Tyne and Wear
United Kingdom
NE11 0HZ
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
BALANCE SHEET
AS AT 5 JUNE 2024
05 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
248,091
208,871
Current assets
Stocks
109,769
114,652
Debtors
4
967,837
1,065,850
Cash at bank and in hand
428,015
482,125
1,505,621
1,662,627
Creditors: amounts falling due within one year
5
(344,164)
(417,771)
Net current assets
1,161,457
1,244,856
Total assets less current liabilities
1,409,548
1,453,727
Creditors: amounts falling due after more than one year
6
(150,149)
(227,347)
Provisions for liabilities
(34,621)
(22,605)
Net assets
1,224,778
1,203,775
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
1,224,578
1,203,575
Total equity
1,224,778
1,203,775
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
BALANCE SHEET (CONTINUED)
AS AT 5 JUNE 2024
05 June 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 February 2025 and are signed on its behalf by:
Mr MJ Parker
Director
Company Registration No. 01234542
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 JUNE 2024
- 3 -
1
Accounting policies
Company information

R Parker (Wall & Floor Tiling Contractors) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Octavian Way, Team Valley Trading Estate, Gateshead, Tyne and Wear, United Kingdom, NE11 0HZ.

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 provision of tiling contractor work, and the sale of associated tiles and related products, excluding value added tax.

1.3
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:

Leasehold land and buildings
Term of lease
Leasehold improvements
15% on reducing balance
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
25% straight line
Motor vehicles
25% on 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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 JUNE 2024
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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 and cash equivalents

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
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.

R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
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.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
38
38
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 JUNE 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 6 June 2023
169,282
405,828
575,110
Additions
-
0
81,161
81,161
Disposals
-
0
(28,449)
(28,449)
At 5 June 2024
169,282
458,540
627,822
Depreciation and impairment
At 6 June 2023
58,567
307,672
366,239
Depreciation charged in the year
1,427
37,114
38,541
Eliminated in respect of disposals
-
0
(25,049)
(25,049)
At 5 June 2024
59,994
319,737
379,731
Carrying amount
At 5 June 2024
109,288
138,803
248,091
At 5 June 2023
110,715
98,156
208,871
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
644,746
709,102
Corporation tax recoverable
49,103
49,103
Other debtors
234,359
262,834
Prepayments and accrued income
18,162
20,372
946,370
1,041,411
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
21,467
24,439
Total debtors
967,837
1,065,850
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 JUNE 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7
92,500
92,500
Obligations under finance leases
47,414
23,535
Trade creditors
124,827
177,370
Corporation tax
15,677
24,878
Other taxation and social security
23,772
35,696
Other creditors
17,835
1,844
Accruals and deferred income
22,139
61,948
344,164
417,771
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
96,875
189,375
Obligations under finance leases
53,274
37,972
150,149
227,347

The hire purchase contracts are secured against the assets in which they relate.

 

The company has a bank overdraft facility which is secured against the first mortgage dated 8 July 1999 over 6 Octavian Way, Team Valley Trading Estate, Gateshead and an unlimited debenture in Bank's standard form dated 25 May 1999.

7
Loans and overdrafts
2024
2023
£
£
Bank loans
189,375
281,875
Payable within one year
92,500
92,500
Payable after one year
96,875
189,375
R PARKER (WALL & FLOOR TILING CONTRACTORS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 JUNE 2024
- 8 -
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Interest of £3,345 has been charged on the below loan account using the HMRC official rate of interest.

Description
% Rate
Opening balance
Closing balance
£
£
Directors' loan
2.25
147,154
147,154
147,154
147,154
2024-06-052023-06-06false10 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr MJ ParkerMr M J ParkerMrs N Parkerfalsefalse012345422023-06-062024-06-0501234542bus:CompanySecretaryDirector12023-06-062024-06-0501234542bus:Director12023-06-062024-06-0501234542bus:CompanySecretary12023-06-062024-06-0501234542bus:Director22023-06-062024-06-0501234542bus:RegisteredOffice2023-06-062024-06-05012345422024-06-05012345422023-06-0501234542core:LandBuildings2024-06-0501234542core:OtherPropertyPlantEquipment2024-06-0501234542core:LandBuildings2023-06-0501234542core:OtherPropertyPlantEquipment2023-06-0501234542core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-0501234542core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-0501234542core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-0501234542core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-0501234542core:CurrentFinancialInstruments2024-06-0501234542core:CurrentFinancialInstruments2023-06-0501234542core:Non-currentFinancialInstruments2024-06-0501234542core:Non-currentFinancialInstruments2023-06-0501234542core:ShareCapital2024-06-0501234542core:ShareCapital2023-06-0501234542core:RetainedEarningsAccumulatedLosses2024-06-0501234542core:RetainedEarningsAccumulatedLosses2023-06-0501234542core:LandBuildingscore:LongLeaseholdAssets2023-06-062024-06-0501234542core:LeaseholdImprovements2023-06-062024-06-0501234542core:PlantMachinery2023-06-062024-06-0501234542core:FurnitureFittings2023-06-062024-06-0501234542core:ComputerEquipment2023-06-062024-06-0501234542core:MotorVehicles2023-06-062024-06-05012345422022-06-062023-06-0501234542core:LandBuildings2023-06-0501234542core:OtherPropertyPlantEquipment2023-06-05012345422023-06-0501234542core:LandBuildings2023-06-062024-06-0501234542core:OtherPropertyPlantEquipment2023-06-062024-06-0501234542bus:PrivateLimitedCompanyLtd2023-06-062024-06-0501234542bus:SmallCompaniesRegimeForAccounts2023-06-062024-06-0501234542bus:FRS1022023-06-062024-06-0501234542bus:AuditExemptWithAccountantsReport2023-06-062024-06-0501234542bus:FullAccounts2023-06-062024-06-05xbrli:purexbrli:sharesiso4217:GBP