REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2024 |
for |
PARKWAY ENGINEERING SERVICES LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Century Buildings |
14 St Mary's Parsonage |
Manchester |
M3 2DF |
BANKERS: |
Audits Team |
One Southampton Row |
London |
WC1B 5HA |
SOLICITORS: |
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 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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 |
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 |
AMORTISATION |
At 1 July 2023 |
Amortisation for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
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 |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
Section 419 taxation paid | 3,867 | 3,867 |
Prepayments and accrued income |
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 |
Amounts owed to group undertakings |
Tax |
Income tax payable | 459 | 291 |
VAT | 9,876 | 8,977 |
Directors' current accounts | - | 7,022 |
Accruals and deferred income |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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 |