REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 29 MARCH 2024 |
FOR |
PARKINSON BAILIFF SERVICES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 29 MARCH 2024 |
FOR |
PARKINSON BAILIFF SERVICES LIMITED |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 April 2023 to 29 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PARKINSON BAILIFF SERVICES LIMITED |
COMPANY INFORMATION |
for the Period 1 April 2023 to 29 March 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
STATEMENT OF FINANCIAL POSITION |
29 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
STATEMENT OF FINANCIAL POSITION - continued |
29 March 2024 |
The financial statements were approved by the director and authorised for issue on |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 April 2023 to 29 March 2024 |
1. | STATUTORY INFORMATION |
Parkinson Bailiff Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 Principal accounting policies adopted in the preparation of the financial statements are set out below. |
Turnover |
Turnover represents the fair value of services provided and is measured at the fair value of the consideration receivable excluding value added tax. |
Turnover is recognised at the point that the service has been performed. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Land and buildings - 2% on cost |
Plant and machinery etc - 25% on reducing balance, 10% and 15% on reducing balance and 33.3% on cost. |
Financial instruments |
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments. |
The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, trade creditors, accruals, Director's loan accounts and hire purchase agreements. |
Financial instruments that are payable or receivable within one year, typically bank accounts, trade creditors, accruals, Director's loan accounts, hire purchase agreements and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received. |
Financial instruments repayable in more than one year such as hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2023 to 29 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful economic lives. |
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 as incurred. |
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. |
Compensation for business interruption |
The company has recognised income from a business interruption insurance policy. Income is recognised at the point there becomes an unconditional contractual right to receive compensation; this is usually when the claim amount has been agreed by the insurer. The compensation is measured by the insurer based on the amount and timing of expected cashflows during the period of interruption included in the agreed claim; discounted at a rate that reflects the credit risk of the insurer. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2023 to 29 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 29 March 2024 |
NET BOOK VALUE |
At 29 March 2024 |
At 31 March 2023 |
The net book value of tangible fixed assets includes £ 73,759 (2023 - £ 92,511 ) in respect of assets held under hire purchase contracts. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
PARKINSON BAILIFF SERVICES LIMITED (REGISTERED NUMBER: 03263858) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2023 to 29 March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 32,233 | 52,956 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 29 March 2024 and the year ended 31 March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Interest has been charged on the above at the rate of 2% per annum. |
10. | RELATED PARTY DISCLOSURES |
M R Blagbrough |
Shareholder with significant influence |
During the year dividends of £100,000 (2023: £100,000) were paid to M R Blagbrough. |
Included in debtors is £48,044 (2022: £148,044) due from M R Blagbrough. |
There are no fixed repayment terms and interest has been charged at 2% per annum. |