2024-02-012025-01-312025-01-31false12427380PARKS SKIPS 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PARKS SKIPS LTD

Registered Number
12427380
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

PARKS SKIPS LTD
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

Mr A Rutherford
Mrs C A Rutherford

Registered Address

Burnt House Farm
Nedderton Village
Bedlington
NE22 6AZ

Registered Number

12427380 (England and Wales)
PARKS SKIPS LTD
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets31,568,4361,250,596
1,568,4361,250,596
Current assets
Stocks11,96911,419
Debtors4270,710214,587
Cash at bank and on hand422,887211,185
705,566437,191
Creditors amounts falling due within one year5(559,332)(416,945)
Net current assets (liabilities)146,23420,246
Total assets less current liabilities1,714,6701,270,842
Creditors amounts falling due after one year6-(31,327)
Provisions for liabilities8(328,301)(248,841)
Net assets1,386,369990,674
Capital and reserves
Called up share capital100100
Profit and loss account1,386,269990,574
Shareholders' funds1,386,369990,674
The financial statements were approved and authorised for issue by the Board of Directors on 10 April 2025, and are signed on its behalf by:
Mr A Rutherford
Director
Mrs C A Rutherford
Director

Registered Company No. 12427380
PARKS SKIPS LTD
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 and/or the 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles15
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1613
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 February 24255,235643,597720,4516501,619,933
Additions-167,815367,000-534,815
At 31 January 25255,235811,4121,087,4516502,154,748
Depreciation and impairment
At 01 February 24-173,267195,806264369,337
Charge for year-88,368128,51196216,975
At 31 January 25-261,635324,317360586,312
Net book value
At 31 January 25255,235549,777763,1342901,568,436
At 31 January 24255,235470,330524,6453861,250,596
4.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables208,248114,768
Other debtors47,93185,337
Prepayments and accrued income14,53114,482
Total270,710214,587
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.
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables363,474150,745
Bank borrowings and overdrafts-10,000
Taxation and social security57,88416,050
Finance lease and HP contracts-34,396
Other creditors133,084200,935
Accrued liabilities and deferred income4,8904,819
Total559,332416,945
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. The Hire Purchase contracts are secured on the assets concerned.
6.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts-13,332
Other creditors-17,995
Total-31,327
Other creditors includes Hire Purchase contracts £Nil (2024 - £17,995) which are secured on the assets concerned.
7.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts-17,994
8.Provisions for liabilities
The provision for deferred tax is made up of £328,301 liability (2024 - £248,840) in respect of accelerated capital allowances, £Nil (2024 - £Nil) in respect of tax losses carried forward.

2025

2024

££
Net deferred tax liability (asset)328,301248,841
Total328,301248,841
9.Directors advances, credits and guarantees
On 1 February 2024, a director owed the company £Nil (2024 - £10,613). During the prior period the director repaid the loan in full. At 31 January 2025 the director owed the company £Nil (2024 - £Nil). Interest if overdrawn on this loan is charged at HMRC average official rate of interest and the loan is repayable on demand.
10.Related party transactions
The company received two loans of £50,000 on start up from two companies which shares a common director and shareholder. During the prior year one of these loans was repaid in full, by £50,000. This loan is included within other creditors, and is interest free and repayable on demand. During the year the Company loaned a Company £500 (2024 - £24,800) and received £100,000 (2024 - £68,012) repayments, which shares common directors and a shareholder.