REGISTERED NUMBER: 01184834 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Parsons Landscapes Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J D Parsons

Mrs J E Parsons

R A Parsons

Mrs S Parsons

D G Parsons

Mrs J I Parsons

SECRETARY:

Mrs J E Parsons

REGISTERED OFFICE:

Dairy House Farm

Stoke St. Mary

Taunton

Somerset

TA3 5BY

REGISTERED NUMBER:

01184834 (England and Wales)

ACCOUNTANTS:

GSS Accountants Limited

The Cleve

Mantle Street

Wellington

Somerset

TA21 8SN

FIXED ASSETS

Tangible assets

4

199,249

215,868

CURRENT ASSETS

Stocks

1,050

1,150

Debtors

5

169,605

175,748

Cash at bank and in hand

1,216,265

1,064,561

1,386,920

1,241,459

CREDITORS

Amounts falling due within one year

6

174,523

153,349

NET CURRENT ASSETS

1,212,397

1,088,110

TOTAL ASSETS LESS CURRENT LIABILITIES

1,411,646

1,303,978

CREDITORS

Amounts falling due after more than one year

7

(38,941

)

(48,949

)

PROVISIONS FOR LIABILITIES

(45,969

)

(49,474

)

NET ASSETS

1,326,736

1,205,555

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,326,636

1,205,455

1,326,736

1,205,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

T J D Parsons - Director

1.	STATUTORY INFORMATION

Parsons Landscapes Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision effects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Trade and other receivables - The allowance for doubtful accounts involves significant management judgement and review of individual receivables based on individual customer creditworthiness and credit history.

Amounts received on annual contracts - Where work is not undertaken during the winter months after the company year end the income for this period is accrued and included in the current accounts.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on cost

Plant and machinery

-

33% on cost, 20% on reducing balance and over the period of the lease

Tractors & trailers

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Tractors

Motor

property

machinery

& trailers

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

26,703

261,319

42,689

325,231

655,942

Additions

-

5,738

-

36,627

42,365

Disposals

-

-

-

(26,995

)

(26,995

)

At 31 December 2024

26,703

267,057

42,689

334,863

671,312

DEPRECIATION

At 1 January 2024

15,435

175,411

40,446

208,782

440,074

Charge for year

159

17,940

156

35,968

54,223

Eliminated on disposal

-

-

-

(22,234

)

(22,234

)

At 31 December 2024

15,594

193,351

40,602

222,516

472,063

NET BOOK VALUE

At 31 December 2024

11,109

73,706

2,087

112,347

199,249

At 31 December 2023

11,268

85,908

2,243

116,449

215,868

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

32,861

159,030

191,891

Additions

-

36,627

36,627

Transfer to ownership

-

(63,995

)

(63,995

)

At 31 December 2024

32,861

131,662

164,523

DEPRECIATION

At 1 January 2024

6,572

65,765

72,337

Charge for year

5,258

24,743

30,001

Transfer to ownership

-

(37,524

)

(37,524

)

At 31 December 2024

11,830

52,984

64,814

NET BOOK VALUE

At 31 December 2024

21,031

78,678

99,709

At 31 December 2023

26,289

93,265

119,554

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

92,743

92,517

Other debtors

13,822

13,696

Directors' current accounts

51,788

51,832

Prepayments and accrued income

11,252

17,703

169,605

175,748

Other debtors include advance corporation tax on directors loan accounts of £13,346 (2023: £13,361).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

23,194

32,290

Trade creditors

26,364

22,763

Tax

44,125

34,497

Social security and other taxes

30,586

34,119

VAT

25,823

16,534

Other creditors

5,310

2,924

Accrued expenses

19,121

10,222

174,523

153,349

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

38,941

48,949

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

62,135

81,239

The bank overdraft is secured by a first legal mortgage dated 5/8/1982 over the company's freehold property and an unscheduled mortgage debenture dated 28/8/1991, incorporating a floating charge.

The hire purchase creditors are secured on the assets they relate to.

9.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees, contingencies and commitments at the year end of £9,214 (2023: £11,841)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

T J D Parsons

Balance outstanding at start of year

15,510

15,268

Amounts advanced

212

242

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,722

15,510

R A Parsons

Balance outstanding at start of year

16,182

16,182

Amounts repaid

(313

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,869

16,182

D G Parsons

Balance outstanding at start of year

20,140

20,110

Amounts advanced

57

30

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,197

20,140