7 false false false false false false false false false false true false false false false false false No description of principal activity 2024-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 300,000 300,000 xbrli:pure xbrli:shares iso4217:GBP 09295475 2024-05-01 2025-04-30 09295475 2025-04-30 09295475 2024-04-30 09295475 2023-05-01 2024-04-30 09295475 2024-04-30 09295475 2023-04-30 09295475 core:MotorVehicles 2024-05-01 2025-04-30 09295475 bus:Director1 2024-05-01 2025-04-30 09295475 bus:Director2 2024-05-01 2025-04-30 09295475 core:NetGoodwill 2025-04-30 09295475 core:MotorVehicles 2024-04-30 09295475 core:MotorVehicles 2025-04-30 09295475 core:WithinOneYear 2025-04-30 09295475 core:WithinOneYear 2024-04-30 09295475 core:AfterOneYear 2025-04-30 09295475 core:AfterOneYear 2024-04-30 09295475 core:ShareCapital 2025-04-30 09295475 core:ShareCapital 2024-04-30 09295475 core:RetainedEarningsAccumulatedLosses 2025-04-30 09295475 core:RetainedEarningsAccumulatedLosses 2024-04-30 09295475 core:BetweenOneFiveYears 2025-04-30 09295475 core:BetweenOneFiveYears 2024-04-30 09295475 core:MotorVehicles 2024-04-30 09295475 bus:SmallEntities 2024-05-01 2025-04-30 09295475 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 09295475 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 09295475 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 09295475 bus:FullAccounts 2024-05-01 2025-04-30 09295475 core:NetGoodwill 2024-05-01 2025-04-30 09295475 core:OfficeEquipment 2024-05-01 2025-04-30
COMPANY REGISTRATION NUMBER: 09295475
Parkers Promotional Products Limited
Filleted Unaudited Financial Statements
30 April 2025
Parkers Promotional Products Limited
Statement of Financial Position
30 April 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
6
12,284
16,528
Current assets
Stocks
5,405
9,967
Debtors
7
273,208
189,723
Cash at bank and in hand
44,517
4
---------
---------
323,130
199,694
Creditors: amounts falling due within one year
8
370,556
269,626
---------
---------
Net current liabilities
47,426
69,932
--------
--------
Total assets less current liabilities
( 35,142)
( 53,404)
Creditors: amounts falling due after more than one year
9
5,000
15,000
Provisions
Taxation including deferred tax
2,527
3,482
--------
--------
Net liabilities
( 42,669)
( 71,886)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 42,671)
( 71,888)
--------
--------
Shareholders deficit
( 42,669)
( 71,886)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 April 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Parkers Promotional Products Limited
Statement of Financial Position (continued)
30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 8 August 2025 , and are signed on behalf of the board by:
Mr C Parker
Mrs J Parker
Director
Director
Company registration number: 09295475
Parkers Promotional Products Limited
Notes to the Financial Statements
Year ended 30 April 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, HG3 1GY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Employee ownership trust
The Parkers Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.
Going concern
The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for the provision of goods and services to customers outside the company net of returns and sales allowances (and VAT). Revenue from goods and services is recognised at the point the company fulfils its commercial obligations to the customer, the revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
30% reducing balance
Website
-
25 % reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).
During the year the company incurred payroll expenses totalling £24,365 (2024 - £14,421) on behalf of the Parkers Employee Ownership Trust.
5. Intangible assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
300,000
---------
Amortisation
At 1 May 2024 and 30 April 2025
300,000
---------
Carrying amount
At 30 April 2025
---------
At 30 April 2024
---------
6. Tangible assets
Motor vehicles
Equipment
Website
Total
£
£
£
£
Cost
At 1 May 2024 and 30 April 2025
38,989
22,112
22,000
83,101
--------
--------
--------
--------
Depreciation
At 1 May 2024
29,930
19,864
16,779
66,573
Charge for the year
2,265
674
1,305
4,244
--------
--------
--------
--------
At 30 April 2025
32,195
20,538
18,084
70,817
--------
--------
--------
--------
Carrying amount
At 30 April 2025
6,794
1,574
3,916
12,284
--------
--------
--------
--------
At 30 April 2024
9,059
2,248
5,221
16,528
--------
--------
--------
--------
7. Debtors
2025
2024
£
£
Trade debtors
262,002
178,326
Other debtors
11,206
11,397
---------
---------
273,208
189,723
---------
---------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
12,385
Trade creditors
225,109
174,615
Corporation tax
64,620
50,401
Social security and other taxes
36,274
24,549
Other creditors
34,553
7,676
---------
---------
370,556
269,626
---------
---------
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
5,000
15,000
-------
--------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
21,150
21,150
Later than 1 year and not later than 5 years
5,288
26,438
--------
--------
26,438
47,588
--------
--------
11. Directors' advances, credits and guarantees
The directors loan account remained in credit throughout the year. There were no guarantees in the year.
12. Related party transactions
The company made a gift of £156,000 (2024: £332,000) to the Parkers Employee Ownership Trust. Future gifts will be made at the discretion of the company Directors based on available cashflows and the performance of the business. No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.
13. Controlling party
The company is controlled by Parker Trustees Limited, being the trustee of Parkers Employee Ownership Trust.