Parkhouse Precision Engineering Limited 04640134 false 2023-10-05 2024-10-04 2024-10-04 The principal activity of the company is Precision Engineering Digita Accounts Production Advanced 6.30.9574.0 true true false 04640134 2023-10-05 2024-10-04 04640134 2024-10-04 04640134 core:CurrentFinancialInstruments 2024-10-04 04640134 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-04 04640134 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-04 04640134 core:FurnitureFittingsToolsEquipment 2024-10-04 04640134 core:LandBuildings 2024-10-04 04640134 core:MotorVehicles 2024-10-04 04640134 bus:SmallEntities 2023-10-05 2024-10-04 04640134 bus:AuditExemptWithAccountantsReport 2023-10-05 2024-10-04 04640134 bus:FullAccounts 2023-10-05 2024-10-04 04640134 bus:SmallCompaniesRegimeForAccounts 2023-10-05 2024-10-04 04640134 bus:RegisteredOffice 2023-10-05 2024-10-04 04640134 bus:Director1 2023-10-05 2024-10-04 04640134 bus:PrivateLimitedCompanyLtd 2023-10-05 2024-10-04 04640134 core:FurnitureFittings 2023-10-05 2024-10-04 04640134 core:FurnitureFittingsToolsEquipment 2023-10-05 2024-10-04 04640134 core:LandBuildings 2023-10-05 2024-10-04 04640134 core:LeaseholdImprovements 2023-10-05 2024-10-04 04640134 core:MotorVehicles 2023-10-05 2024-10-04 04640134 core:PlantMachinery 2023-10-05 2024-10-04 04640134 1 2023-10-05 2024-10-04 04640134 1 2023-10-05 2024-10-04 04640134 countries:England 2023-10-05 2024-10-04 04640134 2023-10-04 04640134 core:FurnitureFittingsToolsEquipment 2023-10-04 04640134 core:LandBuildings 2023-10-04 04640134 core:MotorVehicles 2023-10-04 04640134 2022-10-05 2023-10-04 04640134 2023-10-04 04640134 core:CurrentFinancialInstruments 2023-10-04 04640134 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-04 04640134 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-04 04640134 core:FurnitureFittingsToolsEquipment 2023-10-04 04640134 core:LandBuildings 2023-10-04 04640134 core:MotorVehicles 2023-10-04 iso4217:GBP xbrli:pure

Registration number: 04640134

Parkhouse Precision Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 4 October 2024

 

Parkhouse Precision Engineering Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Parkhouse Precision Engineering Limited

(Registration number: 04640134)
Balance Sheet as at 4 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,940

37,760

Current assets

 

Stocks

60,338

60,338

Debtors

5

1,212,264

1,415,874

Cash at bank and in hand

 

61

3,825

 

1,272,663

1,480,037

Creditors: Amounts falling due within one year

6

(406,927)

(528,792)

Net current assets

 

865,736

951,245

Total assets less current liabilities

 

895,676

989,005

Creditors: Amounts falling due after more than one year

6

(20,537)

(49,934)

Provisions for liabilities

(7,484)

(9,439)

Net assets

 

867,655

929,632

Capital and reserves

 

Called up share capital

200

200

Retained earnings

867,455

929,432

Shareholders' funds

 

867,655

929,632

For the financial year ending 4 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

 

Parkhouse Precision Engineering Limited

(Registration number: 04640134)
Balance Sheet as at 4 October 2024

.........................................
Mr P Bromley
Director

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Newfield Works
High Street
Sandyford
Stoke-on-Trent
Staffordshire
ST6 5PQ

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold

20% Straight line

Plant and machinery

20% reducing balance

Fixtures and fittings

20% straight line

Motor vehicles

20% reducing balance

Impairment

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.

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 are largely independent of the cash inflows from other assets or groups of assets.
 

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 16).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 5 October 2023

15,075

116,548

22,367

153,990

Additions

-

722

-

722

Disposals

-

-

(6,018)

(6,018)

At 4 October 2024

15,075

117,270

16,349

148,694

Depreciation

At 5 October 2023

15,075

84,220

16,934

116,229

Charge for the year

-

7,084

1,324

8,408

Eliminated on disposal

-

-

(5,883)

(5,883)

At 4 October 2024

15,075

91,304

12,375

118,754

Carrying amount

At 4 October 2024

-

25,966

3,974

29,940

At 4 October 2023

-

32,327

5,433

37,760

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

218,806

413,511

Amounts owed by related parties

7

988,764

988,262

Prepayments

 

4,693

14,101

Other debtors

 

1

-

   

1,212,264

1,415,874

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

27,210

25,217

Trade creditors

 

78,277

113,487

Taxation and social security

 

59,573

77,819

Accruals and deferred income

 

13,000

32,690

Other creditors

 

228,867

279,579

 

406,927

528,792

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

20,537

49,934

7

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

 

Parkhouse Precision Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 4 October 2024

8

Parent and ultimate parent undertaking

The company's immediate parent is Parkhouse Group Limited, incorporated in England and Wales.

 The ultimate parent is MPR Parkhouse Limited, incorporated in England and Wales.

 

9

Non adjusting events after the financial period

There were no material events up to the date of approval of the financial statements by the board.