Company Registration No. 10634316 (England and Wales)
PARC STORE LTD
Unaudited accounts
for the year ended 28 February 2025
PARC STORE LTD
Unaudited accounts
Contents
PARC STORE LTD
Company Information
for the year ended 28 February 2025
Director
DHIRESH BHIMJI PATEL
Company Number
10634316 (England and Wales)
Registered Office
Parc Store
2 Cilparc
PORTHCAWL
CF36 5ES
Accountants
Numera Accountancy Ltd
Certified Public Accountants
39 Clive Street
CARDIFF
CF11 7HJ
PARC STORE LTD
Statement of financial position
as at 28 February 2025
Intangible assets
33,500
50,250
Tangible assets
6,095
7,172
Cash at bank and in hand
149,493
151,200
Creditors: amounts falling due within one year
(28,593)
(31,166)
Net current assets
140,039
140,430
Total assets less current liabilities
179,634
197,852
Creditors: amounts falling due after more than one year
(72,360)
(119,701)
Called up share capital
100
100
Profit and loss account
107,174
78,051
Shareholders' funds
107,274
78,151
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 July 2025 and were signed on its behalf by
DHIRESH BHIMJI PATEL
Director
Company Registration No. 10634316
PARC STORE LTD
Notes to the Accounts
for the year ended 28 February 2025
PARC STORE LTD is a private company, limited by shares, registered in England and Wales, registration number 10634316. The registered office is Parc Store, 2 Cilparc , PORTHCAWL , CF36 5ES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
PARC STORE LTD
Notes to the Accounts
for the year ended 28 February 2025
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
15%
4
Intangible fixed assets
Goodwill
At 28 February 2025
167,500
Charge for the year
16,750
At 28 February 2025
134,000
At 28 February 2025
33,500
At 29 February 2024
50,250
Goodwill is amortised on the basis of 10 years useful life on straight line method. It includes the adjustments for previous years, if any.
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2024
9,097
840
9,937
At 28 February 2025
9,097
840
9,937
At 1 March 2024
2,532
233
2,765
Charge for the year
986
91
1,077
At 28 February 2025
3,518
324
3,842
At 28 February 2025
5,579
516
6,095
At 29 February 2024
6,565
607
7,172
PARC STORE LTD
Notes to the Accounts
for the year ended 28 February 2025
Amounts falling due within one year
Accrued income and prepayments
187
-
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
10,805
15,501
Taxes and social security
10,564
10,988
8
Creditors: amounts falling due after more than one year
2025
2024
Loans from directors
71,835
119,701
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).