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REGISTERED NUMBER: 07963326 (England and Wales)














Unaudited Financial Statements

for the Period 1 April 2023 to 30 March 2024

for

Parkway Prestige (Arc) Limited

Parkway Prestige (Arc) Limited (Registered number: 07963326)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Parkway Prestige (Arc) Limited (Registered number: 07963326)

Balance Sheet
30 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,793,661 1,604,085

CURRENT ASSETS
Stocks 51,446 43,623
Debtors 5 980,344 783,182
Cash at bank and in hand 534,382 397,539
1,566,172 1,224,344
CREDITORS
Amounts falling due within one year 6 1,054,795 1,003,507
NET CURRENT ASSETS 511,377 220,837
TOTAL ASSETS LESS CURRENT LIABILITIES 2,305,038 1,824,922

CREDITORS
Amounts falling due after more than one year 7 (322,535 ) (355,824 )

PROVISIONS FOR LIABILITIES (250,026 ) (264,973 )
NET ASSETS 1,732,477 1,204,125

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 9 853,374 845,674
Retained earnings 879,003 358,351
SHAREHOLDERS' FUNDS 1,732,477 1,204,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:



Ms G R Gage - Director


Parkway Prestige (Arc) Limited (Registered number: 07963326)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 March 2024

1. STATUTORY INFORMATION

Parkway Prestige (Arc) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07963326

Registered office: Parkway Prestige (ARC) Limited
Unit 1, Leo Industrial Estate
Mosley Road, Trafford Park
Manchester
Lancashire
M17 1JS

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 represents net invoiced sales of services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - related building items over 50 years
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Parkway Prestige (Arc) Limited (Registered number: 07963326)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 34 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,551,771 377,685 67,576 113,690 2,110,722
Additions - 865 14,766 325,727 341,358
Disposals - (6,300 ) (715 ) (62,990 ) (70,005 )
At 30 March 2024 1,551,771 372,250 81,627 376,427 2,382,075
DEPRECIATION
At 1 April 2023 155,175 274,369 46,140 30,953 506,637
Charge for period 31,035 15,232 5,708 47,060 99,035
Eliminated on disposal - (1,260 ) (250 ) (15,748 ) (17,258 )
At 30 March 2024 186,210 288,341 51,598 62,265 588,414
NET BOOK VALUE
At 30 March 2024 1,365,561 83,909 30,029 314,162 1,793,661
At 31 March 2023 1,396,596 103,316 21,436 82,737 1,604,085

Cost or valuation at 30 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2014 500,000 - - - 500,000
Valuation in 2018 643,874 - - - 643,874
Cost 407,897 372,250 81,627 376,427 1,238,201
1,551,771 372,250 81,627 376,427 2,382,075

Parkway Prestige (Arc) Limited (Registered number: 07963326)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 April 2023
and 30 March 2024 39,691
DEPRECIATION
At 1 April 2023 5,130
Charge for period 3,970
At 30 March 2024 9,100
NET BOOK VALUE
At 30 March 2024 30,591
At 31 March 2023 34,561

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 846,960 646,771
Other debtors 133,384 136,411
980,344 783,182

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,614 27,084
Hire purchase contracts 4,764 12,077
Trade creditors 354,852 308,090
Taxation and social security 632,503 626,067
Other creditors 34,062 30,189
1,054,795 1,003,507

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 318,068 346,293
Hire purchase contracts 4,467 9,231
Other creditors - 300
322,535 355,824

Parkway Prestige (Arc) Limited (Registered number: 07963326)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 9,231 21,308
Mortgage 312,422 333,562
321,653 354,870

The mortgage is secured by way of a fixed and floating charge over the freehold property and all assets held by the company.

Hire purchase contracts are secured over the assets to which they relate.

9. RESERVES
Undistributable
reserves
£   
At 1 April 2023 845,674
Deferred tax on revaluation 7,700

At 30 March 2024 853,374

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included within the balance sheet amount to £26,520 (2023 £37,231). This financial commitment represents the total amount of payments remaining on leases ending between 2024-2027.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 March 2024 and the year ended 31 March 2023:

2024 2023
£    £   
Ms G R Gage
Balance outstanding at start of period 45,527 -
Amounts advanced 91,658 69,677
Amounts repaid (137,185 ) (24,150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 45,527

Mr D Gage
Balance outstanding at start of period 13,611 -
Amounts advanced 256,965 38,989
Amounts repaid (284,511 ) (25,378 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (13,935 ) 13,611

Parkway Prestige (Arc) Limited (Registered number: 07963326)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A G McCauley
Balance outstanding at start of period - -
Amounts advanced 5,748 -
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 748 -

12. ULTIMATE CONTROLLING PARTY

The controlling party is Parkway Prestige Group Limited.