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Registered Number: 13575873
England and Wales

 

 

 

PARKER INSULATION LTD



Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors Christopher Parker
Debra Parker
Registered Number 13575873
Registered Office 17 Lanshaw Terrace
Leeds
West Yorkshire
LS10 3NX
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,320    3,094 
2,320    3,094 
Current assets      
Stocks 4 15,150    4,650 
Debtors 5 10,732    9,649 
Cash at bank and in hand 2,918    9,624 
28,800    23,923 
Creditors: amount falling due within one year 6 (30,488)   (23,925)
Net current assets (1,688)   (2)
 
Total assets less current liabilities 632    3,092 
Provisions for liabilities 7 (441)   (588)
Net assets 191    2,504 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 91    2,404 
Shareholders' funds 191    2,504 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 May 2025 and were signed on its behalf by:


-------------------------------
Christopher Parker
Director
2
General Information
Parker Insulation Ltd is a private company, limited by shares, registered in England and Wales, registration number 13575873, registration address 17 Lanshaw Terrace, Leeds, West Yorkshire, LS10 3NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 September 2023  
Additions 5,500    5,500 
Disposals  
At 31 August 2024 5,500    5,500 
Depreciation
At 01 September 2023 2,406    2,406 
Charge for year 774    774 
On disposals  
At 31 August 2024 3,180    3,180 
Net book values
Closing balance as at 31 August 2024 2,320    2,320 
Opening balance as at 01 September 2023 3,094    3,094 


4.

Stocks

2024
£
  2023
£
Work in Progress 15,150    4,650 
15,150    4,650 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 7,773    6,536 
Other Debtors 2,959    3,113 
10,732    9,649 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 6,966    2,059 
Taxation and Social Security 19,970    10,951 
Other Creditors 3,552    10,915 
30,488    23,925 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 441    588 
441    588 

3