Registered number
10380007
Private Parking Management Ltd
Report and Accounts
30 September 2024
Private Parking Management Ltd
Registered number: 10380007
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,777 59,691
38,777 59,691
Current assets
Debtors 4 344,798 150,099
Cash at bank and in hand 1,753 424
346,551 150,523
Creditors: amounts falling due within one year 5 (303,886) (112,076)
Net current assets 42,665 38,447
Total assets less current liabilities 81,442 98,138
Creditors: amounts falling due after more than one year 6 (48,203) (69,020)
Net assets 33,239 29,118
Capital and reserves
Called up share capital 1 1
Profit and loss account 33,238 29,117
Shareholder's funds 33,239 29,118
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Sacha Hourigan
Director
Approved by the board on 14 May 2025
Private Parking Management Ltd
Notes to the Accounts
for the year ended 30 September 2024
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant & Machinery Motor vehicles Total
£ £ £
Cost
At 1 October 2023 8,899 88,322 97,221
Additions - - -
Disposals - (7,350) (7,350)
At 30 September 2024 8,899 80,972 89,871
Depreciation
At 1 October 2023 2,129 35,401 37,530
Charge for the year 1,780 16,194 17,974
On disposals - (4,410) (4,410)
At 30 September 2024 3,909 47,185 51,094
Net book value
At 30 September 2024 4,990 33,787 38,777
At 30 September 2023 6,770 52,921 59,691
4 Debtors 2024 2023
£ £
Trade debtors 861 899
Other debtors 343,937 149,200
344,798 150,099
Amounts due after more than one year included above 329,696 147,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 25,556 6,129
Taxation and social security costs 12,785 1,086
Other creditors 265,545 104,861
303,886 112,076
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,667 25,067
Obligations under finance lease and hire purchase contracts 32,536 43,953
48,203 69,020
7 Other information
Private Parking Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 88 Dorset House
Duke Street
Chelmsford
Essex
CM1 1TB
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