Registration number: 09630322

Parc Supplies Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Parc Supplies Ltd

Balance Sheet

as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	675	1,775
Tangible assets	5	305,019	142,023
		305,694	143,798
Current assets
Stocks		464,573	478,046
Debtors	6	1,067,905	978,970
Cash at bank and in hand		2,801	9,999
		1,535,279	1,467,015
Creditors: Amounts falling due within one year	7	(556,221)	(371,490)
Net current assets		979,058	1,095,525
Total assets less current liabilities		1,284,752	1,239,323
Creditors: Amounts falling due after more than one year	7	(111,576)	-
Provisions for liabilities		(30,351)	(35,344)
Net assets		1,142,825	1,203,979
Capital and reserves
Allotted, called up and fully paid share capital		100	180,100
Profit and loss account		1,142,725	1,023,879
Shareholders' funds		1,142,825	1,203,979

Registration number: 09630322

Parc Supplies Ltd

Balance Sheet

as at 31 December 2024 (continued)

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.

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... Mr L Armstrong Director

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024

1	General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 09630322.

The address of its registered office is:
2 Whitehall Point
Whitehall Road
Leeds
West Yorkshire
LS12 4RZ

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Exchange differences are taken into account in arriving at operating profit.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives less expected residual value, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum on reducing balance basis
Fixtures and fittings	20% per annum on reducing balance basis
Motor vehicles	25% per annum on reducing balance basis
Leased motor vehicles	Straight line over the term of the lease

Goodwill

Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years. Provision is made for any impairment.

Intangible assets

Intangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated amortisation and accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks, patents and licences	33% per annum on a straight line basis

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. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Borrowings

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Leases are classifed as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term less the expected residual value. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Defined contribution pension obligation

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 18 (2023 - 15).

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

4	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 January 2024	147,000	3,333	150,333
At 31 December 2024	147,000	3,333	150,333
Amortisation
At 1 January 2024	147,000	1,558	148,558
Amortisation charge	-	1,100	1,100
At 31 December 2024	147,000	2,658	149,658
Net book value:
At 31 December 2024	-	675	675
At 31 December 2023	-	1,775	1,775

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

5	Tangible assets

	Fixtures and Fittings £	Office equipment £	Motor vehicles  £	Total £
Cost
At 1 January 2024	6,544	185,585	128,022	320,151
Additions	1,464	19,820	204,620	225,904
At 31 December 2024	8,008	205,405	332,642	546,055
Depreciation
At 1 January 2024	3,193	121,359	53,576	178,128
Charge for the year	802	18,653	43,453	62,908
At 31 December 2024	3,995	140,012	97,029	241,036
Net book value
At 31 December 2024	4,013	65,393	235,613	305,019
At 31 December 2023	3,351	64,226	74,446	142,023

6

Debtors

	2024 £	2023 £
Trade debtors	328,114	283,264
Amounts owed by group undertakings	285,961	-
Prepayments	104,793	75,964
Other debtors	349,037	619,742
	1,067,905	978,970

Parc Supplies Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 December 2024 (continued)

7

Creditors

	2024 £	2023 £
Due within one year
Trade creditors	256,351	167,111
Hire purchase and finance liabilities	30,244	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest	-	20,955
Taxation and social security	31,676	51,757
Corporation tax liability	35,077	3,208
Accruals and deferred income	11,305	8,145
Other creditors	2,662	749
Directors' loan accounts	188,906	119,565
	556,221	371,490

Due after one year
Hire purchase and finance liabilities		111,576	-

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £81,065 (2023 - £126,563). These financial commitments relate to non-cancellable operating leases and are payable over the remaining life of those leases.