| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| L. J. Parris and Sons Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2024 |
| for |
| L. J. Parris and Sons Limited |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| L. J. Parris and Sons Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 106 Charter Avenue |
| Ilford |
| Essex |
| IG2 7AD |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Abridged Statement of Financial Position |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Abridged Statement of Financial Position - continued |
| 31 December 2024 |
| The financial statements were approved by the director and authorised for issue on |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| L. J. Parris and Sons Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 | 100 |
| NET BOOK VALUE |
| At 31 December 2024 | 100 |
| At 31 December 2023 | 100 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| Revaluations | 526,897 |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| Fair value at 31 December 2024 is represented by: |
| £ |
| Valuation in 2024 | 526,897 |
| Cost | 661,502 |
| 1,188,399 |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | PROVISIONS FOR LIABILITIES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | - | 5,000 |
| Property revaluation | 123,265 | - |
| 123,265 | 5,000 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Provided during year |
| Accelerated capital allowances | (5,000 | ) |
| Balance at 31 December 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 10,000 | 10,000 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2024 |
| Profit for the year |
| At 31 December 2024 |
| L. J. Parris and Sons Limited (Registered number: 00476200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | RELATED PARTY DISCLOSURES |
| The following amount was due to the director at the end of the year: |
| K J Parris £291,929 (2023 - £93,993). |
| The following amount was due to the wife of the director, Mrs M L W Parris, at the end of the year: |
| £285,190 (2023 - £25,354). |
| During the year Margaret Whiteford Associates Limited, a company in which the wife of K J Parris is a director and has material interest, invoiced the company £10,478 (2023 - £21,120) in respect of clerical services and support. The director considers the charge to be at arms length and on commercial terms. The amount owing at the end of the year was £Nil (2023 - £1,880). |
| During the prior year the company acquired 100% of the share capital of Paris Hall Farm Limited, a company of which K J Parris and M L W Parris are also directors. The shares were acquired in exchange for various freehold properties of the company. The shares were later transferred to the ultimate holding company by way of a dividend in specie, at cost. The shares were later demerged from the newly formed group and are now owned by a company under the control of the directors. |
| Paris Hall Farms Limited charged the company £29,699 (2023 - £36,806) in rent during the year. Similarly L. J. Parris and Sons Limited charged Paris Hall Farm Limited the sum of £Nil (2023 - £1,632) in recharged costs. The amounts due to Paris Hall Farms Limited at the year end was £91,190 (2023 - £35,174). |
| During the year the director and his wife transferred freehold property from themselves to the company at a cost of £600,000. The transaction took place at market value. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is K J Parris. |
| The ultimate controlling party is KJ Parris due to his shareholding in the ultimate holding company, Parris Partners Limited, a company incorporated in the UK. |
| 12. | TREATMENT OF FREEHOLD PROPERTY |
| During the year, based upon the change in activities of the company, freehold property which was once part of the trading activities is now treated as investment property. The freehold property had a net book value of £23,103 at the time of transfer and has since been revalued. Details are shown in the notes to the accounts. |