David Parsons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03959810

David Parsons Limited

Filleted Unaudited Financial Statements

31 December 2024

David Parsons Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	5,322	7,135

Current assets

Debtors	6	533	463
Cash at bank and in hand		8,884	10,181
		-------	--------
		9,417	10,644

Creditors: amounts falling due within one year	7	7,910	7,819
		-------	--------
Net current assets		1,507	2,825
		-------	-------
Total assets less current liabilities		6,829	9,960

Provisions

Taxation including deferred tax	8	1,011	1,582
		-------	-------
Net assets		5,818	8,378
		-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	5,718	8,278
	-------	-------
Shareholder funds	5,818	8,378
	-------	-------

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 statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

David Parsons Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 August 2025 , and are signed on behalf of the board by:

Mr D Parsons
Director

Company registration number: 03959810

David Parsons Limited

Notes to the Financial Statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Grange, Whitehouse Farm, Burnhope, DH7 0EB, Co Durham.

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. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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 that the company is expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 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. 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:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	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 are largely independent of the cash inflows from other assets or groups of assets.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1st January 2024 and 31st December 2024	10,506	20,694	31,200
	--------	--------	--------
Depreciation
At 1st January 2024	8,827	15,238	24,065
Charge for the year	449	1,364	1,813
	--------	--------	--------
At 31st December 2024	9,276	16,602	25,878
	--------	--------	--------
Carrying amount
At 31st December 2024	1,230	4,092	5,322
	--------	--------	--------
At 31st December 2023	1,679	5,456	7,135
	--------	--------	--------

6. Debtors

	2024	2023
	£	£
Other debtors	533	463
	----	----

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	359
Accruals and deferred income	690	703
Director loan accounts	7,220	6,757
	-------	-------
	7,910	7,819
	-------	-------

8. Provisions

	Deferred tax
	£
At 1st January 2024	1,582
Transfers	( 571)
	-------
At 31st December 2024	1,011
	-------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D Parsons	( 6,757)	( 645)	182	( 7,220)
	-------	----	----	-------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D Parsons	( 6,430)	( 327)	–	( 6,757)
	-------	----	----	-------