Parkfield Painting Contractors Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Owen

J Porter

Miss N Kelly

Mrs M Owen

SECRETARY:

Mrs M Owen

REGISTERED OFFICE:

48 - 52 Penny Lane

Mossley Hill

Liverpool

Merseyside

L18 1DG

REGISTERED NUMBER:

05564334 (England and Wales)

ACCOUNTANTS:

Matthews Sutton & Co Ltd

Chartered Certified Accountants

48 - 52 Penny Lane

Mossley Hill

Liverpool

Merseyside

L18 1DG

FIXED ASSETS

Tangible assets

4

36,872

37,998

CURRENT ASSETS

Debtors

5

72,345

73,559

Cash at bank and in hand

222,233

355,683

294,578

429,242

CREDITORS

Amounts falling due within one year

6

123,144

261,435

NET CURRENT ASSETS

171,434

167,807

TOTAL ASSETS LESS CURRENT LIABILITIES

208,306

205,805

CREDITORS

Amounts falling due after more than one year

7

(5,285

)

(15,660

)

PROVISIONS FOR LIABILITIES

(9,124

)

(9,385

)

NET ASSETS

193,897

180,760

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

193,795

180,658

SHAREHOLDERS' FUNDS

193,897

180,760

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

M A Owen - Director

J Porter - Director

1.	STATUTORY INFORMATION

Parkfield Painting Contractors Limited 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.

Turnover

Turnover represents net invoiced sales of services, excluding 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.

Plant and machinery etc

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 5 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

99,618

Additions

5,381

At 31 December 2024

104,999

DEPRECIATION

At 1 January 2024

61,620

Charge for year

6,507

At 31 December 2024

68,127

NET BOOK VALUE

At 31 December 2024

36,872

At 31 December 2023

37,998

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

63,542

50,075

Amounts owed by group undertakings

235

235

Other debtors

8,568

23,249

72,345

73,559

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,375

10,119

Trade creditors

30,933

32,224

Taxation and social security

42,156

55,336

Other creditors

39,680

163,756

123,144

261,435

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,285

15,660

8.	ULTIMATE CONTROLLING PARTY

By virtue of the share ownership split of the company, it is the opinion of the directors that there is no ultimate controlling party.