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Company Registration No. 04759866 (England and Wales)
Park Components Limited Unaudited accounts for the year ended 31 May 2024
Park Components Limited Unaudited accounts Contents
Page
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Park Components Limited Company Information for the year ended 31 May 2024
Director
Mr D Boulton
Company Number
04759866 (England and Wales)
Registered Office
31 Ronald Road Waterloo Park Liverpool Merseyside L22 3XU
Accountants
AF Bookkeeping Services Limited 61 Bridge Street Kington Herefordshire HR5 3DJ
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Park Components Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,976 
14,400 
Current assets
Inventories
5,000 
7,189 
Debtors
25,043 
27,141 
30,043 
34,330 
Creditors: amounts falling due within one year
(55,186)
(47,669)
Net current liabilities
(25,143)
(13,339)
Total assets less current liabilities
(14,167)
1,061 
Creditors: amounts falling due after more than one year
(3,278)
(7,524)
Net liabilities
(17,445)
(6,463)
Capital and reserves
Called up share capital
6 
6 
Profit and loss account
(17,451)
(6,469)
Shareholders' funds
(17,445)
(6,463)
For the year ending 31 May 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 27 February 2025 and were signed on its behalf by
Mr D Boulton Director Company Registration No. 04759866
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Park Components Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Park Components Limited is a private company, limited by shares, registered in England and Wales, registration number 04759866. The registered office is 31 Ronald Road, Waterloo Park, Liverpool, Merseyside, L22 3XU.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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
25% on reducing balance.
Motor vehicles
25% on reducing balance.
Computer equipment
15% on reducing balance.
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Park Components Limited Notes to the Accounts for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
5,000 
At 31 May 2024
5,000 
Amortisation
At 1 June 2023
5,000 
At 31 May 2024
5,000 
Net book value
At 31 May 2024
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
58,184 
43,322 
4,000 
105,506 
At 31 May 2024
58,184 
43,322 
4,000 
105,506 
Depreciation
At 1 June 2023
51,354 
37,526 
2,226 
91,106 
Charge for the year
1,708 
1,449 
267 
3,424 
At 31 May 2024
53,062 
38,975 
2,493 
94,530 
Net book value
At 31 May 2024
5,122 
4,347 
1,507 
10,976 
At 31 May 2023
6,830 
5,796 
1,774 
14,400 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
25,043 
27,141 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
13,548 
16,659 
VAT
368 
791 
Trade creditors
16,499 
21,044 
Loans from directors
24,258 
8,662 
Accruals
513 
513 
55,186 
47,669 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
3,278 
7,524 
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Park Components Limited Notes to the Accounts for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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