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Registration number: 01147017

Coates & Parker Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Coates & Parker Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Coates & Parker Limited

Company Information

Directors

R Shorto

D J Watkins

Company secretary

R Shorto

Registered office

36 Market Place
Warminster
Wiltshire
BA12 9AN

Accountants

Ian Sheekey Accountancy Limited Suite 204 Warner House
123 Castle Street
Salisbury
Wiltshire
SP1 3TB

 

Coates & Parker Limited

(Registration number: 01147017)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,648

10,175

Investment property

5

419,037

419,037

Other financial assets

6

462,404

601,785

 

890,089

1,030,997

Current assets

 

Stocks

7

116,456

114,426

Debtors

8

38,047

25,083

Cash at bank and in hand

 

60,716

14,654

 

215,219

154,163

Creditors: Amounts falling due within one year

9

(47,426)

(74,452)

Net current assets

 

167,793

79,711

Total assets less current liabilities

 

1,057,882

1,110,708

Provisions for liabilities

(129,807)

(114,652)

Net assets

 

928,075

996,056

Capital and reserves

 

Called up share capital

10

2,000

2,000

Share premium reserve

11,142

11,142

Revaluation reserve

131,076

131,076

Retained earnings

783,857

851,838

Shareholders' funds

 

928,075

996,056

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Coates & Parker Limited

(Registration number: 01147017)
Balance Sheet as at 31 December 2024

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 and 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 25 May 2025 and signed on its behalf by:
 

.........................................
R Shorto
Company secretary and director

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
36 Market Place
Warminster
Wiltshire
BA12 9AN

These financial statements were authorised for issue by the Board on 25 May 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.

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.

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises 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.

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

Plant & machinery

15% reducing balance

Fixtures, fittings & equipment

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 34).

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

21,745

189,760

211,505

At 31 December 2024

21,745

189,760

211,505

Depreciation

At 1 January 2024

21,745

179,585

201,330

Charge for the year

-

1,527

1,527

At 31 December 2024

21,745

181,112

202,857

Carrying amount

At 31 December 2024

-

8,648

8,648

At 31 December 2023

-

10,175

10,175

5

Investment properties

2024
£

At 1 January

419,037

At 31 December

419,037

There has been no valuation of investment property by an independent valuer.

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

601,785

601,785

Revaluations

60,619

60,619

Disposals

(200,000)

(200,000)

At 31 December 2024

462,404

462,404

Impairment

Carrying amount

At 31 December 2024

462,404

462,404

7

Stocks

2024
£

2023
£

Other inventories

116,456

114,426

8

Debtors

Current

2024
£

2023
£

Trade debtors

33,503

20,729

Prepayments

4,544

4,272

Other debtors

-

82

 

38,047

25,083

 

Coates & Parker Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,083

1,633

Taxation and social security

6,057

6,636

Accruals and deferred income

3,305

3,225

Other creditors

34,981

62,958

47,426

74,452

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

       

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

57,056

53,160