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Registration number: 05668062

G. Parry Home Improvements Limited
Filleted Unaudited Financial Statements
for the Year Ended 31 December 2024

G. Parry Home Improvements Limited

Company Information

Directors | Mr M G H Hall Mr M J Burton Mr M J Schloegl Mrs J H Hall

Registered office | Islwyn Mold Road Ruthin Denbigshire Clwyd LL15 1SL

Accountants | Haffner Hoff Ltd 2nd Floor - Parkgates Bury New Road Prestwich M25 0TL

G. Parry Home Improvements Limited

(Registration number: 05668062)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 357,262 | 419,078
Investment property | 5 | 365,000 | 815,000
|  | 722,262 | 1,234,078
Current assets |  |  |
Stocks | 6 | 1,646,072 | 1,404,689
Debtors | 7 | 1,640,819 | 1,842,426
Cash at bank and in hand |  | 261,335 | 243,027
|  | 3,548,226 | 3,490,142
Creditors: Amounts falling due within one year | 8 | (826,886) | (1,120,739)
Net current assets |  | 2,721,340 | 2,369,403
Total assets less current liabilities |  | 3,443,602 | 3,603,481
Creditors: Amounts falling due after more than one year | 8 | (1,988,668) | (2,022,366)
Provisions for liabilities |  | (29,644) | (116,710)
Net assets |  | 1,425,290 | 1,464,405
Capital and reserves |  |  |
Called up share capital |  | 10 | 10
Profit and loss account |  | 1,336,349 | 1,114,264
Non-distributable reserve |  | 88,931 | 350,131
Total equity |  | 1,425,290 | 1,464,405

G. Parry Home Improvements Limited

(Registration number: 05668062)
Balance Sheet as at 31 December 2024

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

......................................... Mr M G H Hall Director

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Islwyn
Mold Road
Ruthin
Denbigshire
Clwyd
LL15 1SL
United Kingdom

These financial statements were authorised for issue by the Board on 12 March 2026.

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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings & equipment | 20% reducing balance
Motor vehicles | 20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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

Leases are classified 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. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 58 (2023 - 58).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2024 | 255,882 | 1,005,641 | 1,261,523
Additions | - | 27,500 | 27,500
At 31 December 2024 | 255,882 | 1,033,141 | 1,289,023
Depreciation
At 1 January 2024 | 144,318 | 698,127 | 842,445
Charge for the year | 22,313 | 67,003 | 89,316
At 31 December 2024 | 166,631 | 765,130 | 931,761
Carrying amount
At 31 December 2024 | 89,251 | 268,011 | 357,262
At 31 December 2023 | 111,564 | 307,514 | 419,078

5 | Investment properties

| 2024 £
At 1 January 24 | 815,000
Disposals | (450,000)
At 31 December 24 | 365,000

There has been no valuation of investment property by an independent valuer.
The historical cost of the property is £246,425.

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6 | Stocks

| 2024 £ | 2023 £
Work in progress | 200,000 | 150,000
Other inventories | 1,446,072 | 1,254,689
| 1,646,072 | 1,404,689

7 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 516,288 | 649,545
Other debtors | 1,124,531 | 1,192,881
| 1,640,819 | 1,842,426

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Bank loans and hire purchase liabilities |  | 125,000 | 125,000
Trade creditors |  | 270,801 | 345,773
Taxation |  | 36,155 | 38,751
Other creditors |  | 394,930 | 611,215
|  | 826,886 | 1,120,739

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £125,000 (2023 - £125,000).

G. Parry Home Improvements Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings |  | 1,988,668 | 2,022,366

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,988,668 (2023 - £2,022,366).