Company registration number 01896937 (England and Wales)
PARKWAY INSURANCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
PARKWAY INSURANCE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PARKWAY INSURANCE LTD
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
71,531
92,043
Current assets
Debtors
5
82,596
42,288
Cash at bank and in hand
45,426
5,268
128,022
47,556
Creditors: amounts falling due within one year
6
(61,792)
(8,721)
Net current assets
66,230
38,835
Total assets less current liabilities
137,761
130,878
Provisions for liabilities
(1,076)
(1,575)
Net assets
136,685
129,303
Capital and reserves
Called up share capital
15,000
15,000
Capital redemption reserve
72,010
72,010
Profit and loss reserves
49,675
42,293
Total equity
136,685
129,303

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 October 2025 and are signed on its behalf by:
Mrs K M Stackhouse
Director
Company registration number 01896937 (England and Wales)
PARKWAY INSURANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

Parkway Insurance Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Cemetery Lodge, Halton Road, Lancaster, England, LA1 2EG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Office equipment
20% straight line
Motor vehicles
Not provided

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

PARKWAY INSURANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PARKWAY INSURANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PARKWAY INSURANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
4
4
Tangible fixed assets
Plant and equipment
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2024
14,140
16,874
83,435
114,449
Additions
4,243
1,496
9,500
15,239
Disposals
-
0
-
0
(26,500)
(26,500)
At 30 April 2025
18,383
18,370
66,435
103,188
Depreciation and impairment
At 1 May 2024
11,617
10,789
-
0
22,406
Depreciation charged in the year
3,677
3,674
1,900
9,251
At 30 April 2025
15,294
14,463
1,900
31,657
Carrying amount
At 30 April 2025
3,089
3,907
64,535
71,531
At 30 April 2024
2,523
6,085
83,435
92,043
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
73,596
42,288
Other debtors
9,000
-
0
82,596
42,288
PARKWAY INSURANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
1,726
508
Corporation tax
15,614
403
Other taxation and social security
1,322
1,197
Other creditors
43,130
6,613
61,792
8,721
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
14,513
4,567

The loan is interest free and repayable on demand.

2025-04-30 2024-05-01 false false false 15 October 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mrs K M Stackhouse Mr G Stackhouse 01896937 2024-05-01 2025-04-30 01896937 2025-04-30 01896937 2024-04-30 01896937 core:PlantMachinery 2025-04-30 01896937 core:ComputerEquipment 2025-04-30 01896937 core:MotorVehicles 2025-04-30 01896937 core:PlantMachinery 2024-04-30 01896937 core:ComputerEquipment 2024-04-30 01896937 core:MotorVehicles 2024-04-30 01896937 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 01896937 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 01896937 core:ShareCapital 2025-04-30 01896937 core:ShareCapital 2024-04-30 01896937 core:CapitalRedemptionReserve 2025-04-30 01896937 core:CapitalRedemptionReserve 2024-04-30 01896937 core:RetainedEarningsAccumulatedLosses 2025-04-30 01896937 core:RetainedEarningsAccumulatedLosses 2024-04-30 01896937 bus:Director1 2024-05-01 2025-04-30 01896937 core:PlantMachinery 2024-05-01 2025-04-30 01896937 core:ComputerEquipment 2024-05-01 2025-04-30 01896937 core:MotorVehicles 2024-05-01 2025-04-30 01896937 2023-05-01 2024-04-30 01896937 core:PlantMachinery 2024-04-30 01896937 core:ComputerEquipment 2024-04-30 01896937 core:MotorVehicles 2024-04-30 01896937 2024-04-30 01896937 core:CurrentFinancialInstruments 2025-04-30 01896937 core:CurrentFinancialInstruments 2024-04-30 01896937 core:WithinOneYear 2025-04-30 01896937 core:WithinOneYear 2024-04-30 01896937 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-04-30 01896937 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 01896937 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 01896937 bus:FRS102 2024-05-01 2025-04-30 01896937 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 01896937 bus:Director2 2024-05-01 2025-04-30 01896937 bus:FullAccounts 2024-05-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP