Registered number
04343382
Parkers Engineering Ltd
Filleted Accounts
31 March 2025
Goldsmith BALL
a c c o u n t a n t s
Harwell Innovation Centre, 173 Curie Avenue, Harwell Science and Innovation Campus,
Didcot, Oxfordshire OX11 0QG
Parkers Engineering Ltd
Registered number: 04343382
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 92,232 77,738
Current assets
Stocks 9,750 10,000
Debtors 4 50,114 70,191
Cash at bank and in hand 7,814 145,165
67,678 225,356
Creditors: amounts falling due within one year 5 (20,786) (77,823)
Net current assets 46,892 147,533
Total assets less current liabilities 139,124 225,271
Creditors: amounts falling due after more than one year 6 (16,288) (29,207)
Net assets 122,836 196,064
Capital and reserves
Called up share capital 100 100
Profit and loss account 122,736 195,964
Shareholders' funds 122,836 196,064
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G. Parker
Director
Approved by the board on 20 May 2025
Parkers Engineering Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
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 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 sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 368,294
Additions 31,850
At 31 March 2025 400,144
Depreciation
At 1 April 2024 290,556
Charge for the year 17,356
At 31 March 2025 307,912
Net book value
At 31 March 2025 92,232
At 31 March 2024 77,738
4 Debtors 2025 2024
£ £
Trade debtors 43,585 48,578
Taxes recoverable 6,529 21,613
50,114 70,191
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 13,900 13,900
Trade creditors 6,434 55,715
Taxation and social security costs - 8,115
Other creditors 452 93
20,786 77,823
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 16,288 29,207
7 Other information
Parkers Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11b Ash Park Business Centre
Ash Lane, Little London
Tadley
Hants
RG26 5FL
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