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REGISTERED NUMBER: 02026140 (England and Wales)















Audited Financial Statements for the Year Ended 30 June 2024

for

PARKWAY ENGINEERING SERVICES LTD

PARKWAY ENGINEERING SERVICES LTD (REGISTERED NUMBER: 02026140)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARKWAY ENGINEERING SERVICES LTD

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr D R Durant
Mr J W Mountjoy



SECRETARY: Mr J B Durant



REGISTERED OFFICE: 530 Bristol Business Park
Bristol
Avon
BS16 1EJ



REGISTERED NUMBER: 02026140 (England and Wales)



AUDITORS: BTMR Limited
Statutory Auditor
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Metro Bank
Audits Team
One Southampton Row
London
WC1B 5HA



SOLICITORS: Weightmans LLP
No 1 Spinningfields
Hardman Square
Manchester
M3 3EB

PARKWAY ENGINEERING SERVICES LTD (REGISTERED NUMBER: 02026140)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40 50
Tangible assets 5 443 613
Investments 6 4,981 4,981
5,464 5,644

CURRENT ASSETS
Debtors 7 634,310 685,406
Cash at bank 135,072 51,756
769,382 737,162
CREDITORS
Amounts falling due within one year 8 106,311 79,926
NET CURRENT ASSETS 663,071 657,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

668,535

662,880

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 668,425 662,770
SHAREHOLDERS' FUNDS 668,535 662,880

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr D R Durant - Director


PARKWAY ENGINEERING SERVICES LTD (REGISTERED NUMBER: 02026140)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Parkway Engineering Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are amortised evenly over ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are initially recorded at cost.

Fixed Asset Investments

Fixed assets investments are initially recorded at cost.

Taxation
Taxation for the year 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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

PARKWAY ENGINEERING SERVICES LTD (REGISTERED NUMBER: 02026140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2023
and 30 June 2024 100
AMORTISATION
At 1 July 2023 50
Amortisation for year 10
At 30 June 2024 60
NET BOOK VALUE
At 30 June 2024 40
At 30 June 2023 50

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 591 4,752 5,343
DEPRECIATION
At 1 July 2023 408 4,322 4,730
Charge for year 28 142 170
At 30 June 2024 436 4,464 4,900
NET BOOK VALUE
At 30 June 2024 155 288 443
At 30 June 2023 183 430 613

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.24 30.6.23
£    £   
Fixed asset investments 4,981 4,981

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 36,211
Amounts owed by group undertakings 573,740 565,425
Amounts owed by associates 10,612 6,151
Other debtors 45,540 45,540
Section 419 taxation paid 3,867 3,867
Prepayments and accrued income 551 28,212
634,310 685,406

PARKWAY ENGINEERING SERVICES LTD (REGISTERED NUMBER: 02026140)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 796 30,154
Amounts owed to group undertakings 85,875 10,391
Tax 1,926 2,155
Income tax payable 459 291
VAT 9,876 8,977
Directors' current accounts - 7,022
Accruals and deferred income 7,379 20,936
106,311 79,926

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Katharine Johns FCCA (Senior Statutory Auditor)
for and on behalf of BTMR Limited

10. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £85,875 was owed to Synoptix Limited, (2023: £10,391).

At the balance sheet date an amount of £570,363 (2023: £562,859) was due from Synoptix Group Limited, the company's parent company.

At the balance sheet date an amount of £3,377 (2023: £2,566) was due from Engineering Resource Group Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D R Durant.