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REGISTERED NUMBER: 04717563 (England and Wales)









Financial Statements

for the Period

1 October 2022 to 31 March 2024

for

Parker Cavendish Limited

Parker Cavendish Limited (Registered number: 04717563)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Parker Cavendish Limited

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: J C C Carruth
R Shah
M.A. Gazza
R A Rubenstein



SECRETARY: M R N Beth



REGISTERED OFFICE: Suite 301
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW



REGISTERED NUMBER: 04717563 (England and Wales)



SENIOR STATUTORY AUDITOR: Hitesh Gadhia



AUDITORS: Shaw Wallace Chartered Accountants
and statutory auditor
43 Manchester Street
London
W1U 7LP

Parker Cavendish Limited (Registered number: 04717563)

Balance Sheet
31 March 2024

2024 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 250,000 673,614
Tangible assets 5 62,140 55,923
Investments 6 100 100
312,240 729,637

CURRENT ASSETS
Debtors 7 1,062,088 715,719
Cash at bank and in hand 1,147,181 1,172,840
2,209,269 1,888,559
CREDITORS
Amounts falling due within one year 8 (1,143,024 ) (1,258,778 )
NET CURRENT ASSETS 1,066,245 629,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,485

1,359,418

CREDITORS
Amounts falling due after more than one
year

9

(12,408

)

(27,297

)

PROVISIONS FOR LIABILITIES (15,535 ) (13,981 )
NET ASSETS 1,350,542 1,318,140

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,350,342 1,317,940
SHAREHOLDERS' FUNDS 1,350,542 1,318,140

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:




M.A. Gazza - Director



R A Rubenstein - Director


Parker Cavendish Limited (Registered number: 04717563)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Parker Cavendish Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Parker Cavendish Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities. The estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable and constitute management's best judgement at the date of the financial statements.In the future, actual experience could differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of professional services.

Revenue from services is recognised in the period in which the services are provided in accordance with the stage of completion of the service with reference to the value of work performed.

Unbilled revenue is based on estimates by the directors for the stage of completion with reference to after date billing. This is included in the debtors as accrued income when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
The company records all assets and liabilities acquired in purchase acquisitions, including goodwill, at fair value. Goodwill is amortised over 5 years and is subject to annual tests for impairment. The initial goodwill recorded requires management to make subjective judgements concerning the value in use of cash-generating units. This requires an estimate of the future cash flows expected to arise from the cash-generating unit and a suitable discount rate to calculate present value.

Parker Cavendish Limited (Registered number: 04717563)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Parker Cavendish Limited (Registered number: 04717563)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, lessany impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost.

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 31 March 2024 2,700,382
AMORTISATION
At 1 October 2022 2,026,768
Charge for period 423,614
At 31 March 2024 2,450,382
NET BOOK VALUE
At 31 March 2024 250,000
At 30 September 2022 673,614

Parker Cavendish Limited (Registered number: 04717563)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 61,767
Additions 28,128
At 31 March 2024 89,895
DEPRECIATION
At 1 October 2022 5,844
Charge for period 21,911
At 31 March 2024 27,755
NET BOOK VALUE
At 31 March 2024 62,140
At 30 September 2022 55,923

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 30 September 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 405,928 286,996
Other debtors 656,160 428,723
1,062,088 715,719

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 73,542 21,814
Taxation and social security 440,831 156,572
Other creditors 618,651 1,070,392
1,143,024 1,258,778

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 12,408 27,297

Parker Cavendish Limited (Registered number: 04717563)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
The evidence available to us was limited as we were appointed as auditors after the period end and were unable to carry out auditing procedures necessary to obtain adequate assurance regarding the opening balances and comparative figures because the financial statements for the year ended 30 September 2022 were not subject to an audit. Any adjustments to the opening balances would have a consequential effect on the profit for the period. In addition, the amounts shown as corresponding amounts for the year ended 30 September 2022 may not be comparable with the figures for the current period.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Hitesh Gadhia (Senior Statutory Auditor)
for and on behalf of Shaw Wallace Chartered Accountants