Company registration number SC712088 (Scotland)
PARKGROVE ELECTRIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PARKGROVE ELECTRIC LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PARKGROVE ELECTRIC LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED FINANCIAL STATEMENTS OF PARKGROVE ELECTRIC LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parkgrove Electric Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the I nstitute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the b oard of d irectors of Parkgrove Electric Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkgrove Electric Limited and state those matters that we have agreed to state to the b oard of d irectors of Parkgrove Electric Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkgrove Electric Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Parkgrove Electric Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Parkgrove Electric Limited. You consider that Parkgrove Electric Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parkgrove Electric Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

MMG Chartered Accountants
Chapelshade House
78-84 Bell Street
Dundee
DD1 1RQ
Scotland
18 November 2025
PARKGROVE ELECTRIC LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,141
3,926
Current assets
Cash at bank and in hand
-
0
2,229
Creditors: amounts falling due within one year
4
(176,947)
(178,018)
Net current liabilities
(176,947)
(175,789)
Net liabilities
(173,806)
(171,863)
Capital and reserves
Called up share capital
5
10,000
10,000
Profit and loss reserves
(183,806)
(181,863)
Total equity
(173,806)
(171,863)

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have 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 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 18 November 2025
Mr K J Parke
Director
Company registration number SC712088 (Scotland)
PARKGROVE ELECTRIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Parkgrove Electric Limited is a private company limited by shares incorporated in Scotland. The registered office is Douglasmuir, Friockheim, ANGUS, Scotland, DD11 4UN.

1.1
Basis of preparation

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.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

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.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

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 the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
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.

PARKGROVE ELECTRIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

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% reducing balance

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.

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
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.

2
Employees

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

2025
2024
Number
Number
1
1
1
1
PARKGROVE ELECTRIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2024 and 31 March 2025
5,440
Depreciation and impairment
At 1 April 2024
1,514
Depreciation charged in the year
785
At 31 March 2025
2,299
Carrying amount
At 31 March 2025
3,141
At 31 March 2024
3,926
4
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
176,163
176,494
Accruals and deferred income
784
1,524
176,947
178,018
5
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
10,000
10,000
10,000
10,000
6
Ultimate controlling party

The ultimate controlling party is Mr K J Parke, owner of the majority shareholding in the company's parent, Christie P Limited.

2025-03-31 2024-04-01 false false false 18 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr K J Parke Miss R M Sturrock SC712088 2024-04-01 2025-03-31 SC712088 2025-03-31 SC712088 2024-03-31 SC712088 core:PlantMachinery 2025-03-31 SC712088 core:PlantMachinery 2024-03-31 SC712088 core:CurrentFinancialInstruments 2025-03-31 SC712088 core:CurrentFinancialInstruments 2024-03-31 SC712088 core:ShareCapital 2025-03-31 SC712088 core:ShareCapital 2024-03-31 SC712088 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC712088 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC712088 core:ShareCapitalOrdinaryShareClass1 2025-03-31 SC712088 core:ShareCapitalOrdinaryShareClass1 2024-03-31 SC712088 bus:Director1 2024-04-01 2025-03-31 SC712088 core:PlantMachinery 2024-04-01 2025-03-31 SC712088 2023-04-01 2024-03-31 SC712088 core:PlantMachinery 2024-03-31 SC712088 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC712088 bus:OrdinaryShareClass1 2025-03-31 SC712088 bus:OrdinaryShareClass1 2024-03-31 SC712088 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC712088 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC712088 bus:FRS102 2024-04-01 2025-03-31 SC712088 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC712088 bus:CompanySecretary1 2024-04-01 2025-03-31 SC712088 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP