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Registered number: 13233578
Park Shutters Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13233578
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,109 33,675
24,109 33,675
CURRENT ASSETS
Debtors 5 2,447 4,796
Cash at bank and in hand 28,886 29,464
31,333 34,260
Creditors: Amounts Falling Due Within One Year 6 (26,496 ) (19,803 )
NET CURRENT ASSETS (LIABILITIES) 4,837 14,457
TOTAL ASSETS LESS CURRENT LIABILITIES 28,946 48,132
Creditors: Amounts Falling Due After More Than One Year 7 (9,240 ) (12,093 )
NET ASSETS 19,706 36,039
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 19,606 35,939
SHAREHOLDERS' FUNDS 19,706 36,039
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For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N Duncan
Director
21st May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Park Shutters Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13233578 . The registered office is Unit 8 Wheatcroft Business Park Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 20% reducing balance
Office Equipment 25% straight line
Computer Equipment 25% straight line
2.4. Taxation
Corporation tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Office Equipment Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2024 125 38,459 188 - 38,772
Additions - - - 863 863
Disposals - (8,416 ) - - (8,416 )
As at 28 February 2025 125 30,043 188 863 31,219
Depreciation
As at 1 March 2024 31 5,019 47 - 5,097
Provided during the period 31 6,175 47 144 6,397
Disposals - (4,384 ) - - (4,384 )
As at 28 February 2025 62 6,810 94 144 7,110
Net Book Value
As at 28 February 2025 63 23,233 94 719 24,109
As at 1 March 2024 94 33,440 141 - 33,675
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,818 3,060
Other debtors 629 1,736
2,447 4,796
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1,176 -
Bank loans and overdrafts 2,823 2,614
Corporation tax 8,309 5,798
Other taxes and social security 2,782 -
Other creditors 11,406 11,391
26,496 19,803
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 9,240 12,093
8. Related Party Transactions
As at 28 February 2025 the company owed the director £158 (2024: £251).
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9. Controlling Party
The company's controlling party is N Duncan by virtue of his ownership of issued share capital in the company.
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