Company registration number 03869110 (England and Wales)
PWA PARKER WILSON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PWA PARKER WILSON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PWA PARKER WILSON LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,298
7,764
Tangible assets
4
29,138
35,405
31,436
43,169
Current assets
Debtors
5
57,332
161,146
Cash at bank and in hand
17,966
100
75,298
161,246
Creditors: amounts falling due within one year
6
(168,937)
(153,057)
Net current (liabilities)/assets
(93,639)
8,189
Total assets less current liabilities
(62,203)
51,358
Creditors: amounts falling due after more than one year
7
(22,425)
(21,749)
Net (liabilities)/assets
(84,628)
29,609
Capital and reserves
Called up share capital
1,340
1,340
Capital redemption reserve
27,332
27,332
Profit and loss reserves
(113,300)
937
Total equity
(84,628)
29,609
PWA PARKER WILSON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 17 April 2025
Mr GJ Wilson
Director
Company registration number 03869110 (England and Wales)
PWA PARKER WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
PWA Parker Wilson Limited is a private company limited by shares incorporated in England and Wales. The registered office is 373, Bury New Road, Prestwich, Manchester, United Kingdom, M25 1AW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The accounts have been prepared on the going concern basis, the validity of which depends upon future profitable trading and the support of the director. Should the company be able to continue trading, adjustments would be necessary to reduce the value of assets to their recoverable amount, to provide for further liabilities which might arise and to reclassify fixed assets to current assets.
1.3
Turnover
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
Straight line over 3 years
PWA PARKER WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
Computer equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
PWA PARKER WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
11
11
3
Intangible fixed assets
Other
£
Cost
At 1 May 2023 and 30 April 2024
16,399
Amortisation and impairment
At 1 May 2023
8,635
Amortisation charged for the year
5,466
At 30 April 2024
14,101
Carrying amount
At 30 April 2024
2,298
At 30 April 2023
7,764
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
132,443
78,942
211,385
Depreciation and impairment
At 1 May 2023
106,584
69,396
175,980
Depreciation charged in the year
3,879
2,388
6,267
At 30 April 2024
110,463
71,784
182,247
Carrying amount
At 30 April 2024
21,980
7,158
29,138
At 30 April 2023
25,859
9,546
35,405
PWA PARKER WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
50,514
87,907
Other debtors
6,818
73,239
57,332
161,146
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,036
56,567
Trade creditors
38,871
37,870
Amounts owed to group undertakings
6,396
6,396
Taxation and social security
53,326
36,408
Other creditors
63,308
15,816
168,937
153,057
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,425
21,749
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
143,915
40,982
9
Related party transactions
Summary of transactions with other related parties
The directors have a material interest in Parker Wilson Sustain LLP, energy efficiency consultants, with whom the company had the following transactions during the year:
Labour costs recharged, included within turnover £47,000 (2023 £51,000)
Management charges receivable £2,532 (2023 £2,532)
Mileage expenses payable £7,536 (2023 £6,000)
Amounts due (to)/from at the year end £(31,498) (2023 £53,533)
PWA PARKER WILSON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
10
Parent company
The company's immediate parent is Parker Wilson Holdings Limited, incorporated in England.
11
Going concern
Although the financial statements show net current liabilities of £93,639 and net liabilities of £84,628, the director is of the opinion that the financial statements can be prepared on the going concern basis on the grounds that he will continue to support the company and that the company will trade profitably in the future.