Company No: 02119023 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2026		05.04.2025
		£		£
Fixed assets
Intangible assets	3	21,726		0
Tangible assets	4	5,095,941		5,149,285
Investment property	5	836,630		836,630
Investments	6	701		701
		5,954,998		5,986,616
Current assets
Stocks		50,338		48,976
Debtors	7	114,815		80,553
Cash at bank and in hand		141,067		149,587
		306,220		279,116
Creditors: amounts falling due within one year	8	( 514,559)		( 565,396)
Net current liabilities		(208,339)		(286,280)
Total assets less current liabilities		5,746,659		5,700,336
Creditors: amounts falling due after more than one year	9	( 847,640)		( 785,517)
Provision for liabilities		( 259,263)		( 228,513)
Net assets		4,639,756		4,686,306
Capital and reserves
Called-up share capital	10	10,000		10,000
Share premium account		203		203
Revaluation reserve	14	530,418		530,418
Profit and loss account		4,099,135		4,145,685
Total shareholders' funds		4,639,756		4,686,306

For the financial period ending 31 March 2026 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 financial statements for the financial period 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Walter C Parson Limited (registered number: 02119023) were approved and authorised for issue by the Board of Directors on 21 July 2026. They were signed on its behalf by:

John Stephen Ware Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Walter C Parson Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming, 5th Floor Salt Quay House 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN, United Kingdom. The principal place of business is The Firs, 702 Budshead Road, Crownhill, Plymouth, Devon, PL6 5DY, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length has been shortened to 11 months and 26 days at the decision of the directors. Therefore, the 2025 comparative amounts presented in the financial statements (excluding the related notes) are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	5 years straight line
Computer software	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Vehicles	20 % reducing balance
	10 years straight line
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Included within vehicles are:
- Hearses and Limousines, which are depreciated over 10 years on a straight line basis.
- All other Vehicles, which are depreciated at 20% per annum on a reducing balance basis.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Period from 06.04.2025 to 31.03.2026		Year ended 05.04.2025
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	86		83

3. Intangible assets

	Goodwill		Computer software		Total
	£		£		£
Cost
At 06 April 2025	958,495		0		958,495
Additions	0		21,726		21,726
At 31 March 2026	958,495		21,726		980,221
Accumulated amortisation
At 06 April 2025	958,495		0		958,495
At 31 March 2026	958,495		0		958,495
Net book value
At 31 March 2026	0		21,726		21,726
At 05 April 2025	0		0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 06 April 2025	5,167,617		184,344		1,797,558		487,980		7,637,499
Additions	25,000		0		227,178		0		252,178
Disposals	0		( 99,297)		( 84,198)		0		( 183,495)
At 31 March 2026	5,192,617		85,047		1,940,538		487,980		7,706,182
Accumulated depreciation
At 06 April 2025	945,828		173,351		971,564		397,471		2,488,214
Charge for the financial period	103,811		2,929		175,706		13,575		296,021
Disposals	0		( 99,297)		( 74,697)		0		( 173,994)
At 31 March 2026	1,049,639		76,983		1,072,573		411,046		2,610,241
Net book value
At 31 March 2026	4,142,978		8,064		867,965		76,934		5,095,941
At 05 April 2025	4,221,789		10,993		825,994		90,509		5,149,285

5. Investment property

	Investment property
	£
Valuation
As at 06 April 2025	836,630
As at 31 March 2026	836,630

Valuation

Investment property is carried at fair value which is determined annually and derived from current markets rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

6. Fixed asset investments

Investments in subsidiaries

	31.03.2026
	£
Cost
At 06 April 2025	701
At 31 March 2026	701
Carrying value at 31 March 2026	701
Carrying value at 05 April 2025	701

7. Debtors

	31.03.2026		05.04.2025
	£		£
Trade debtors	100,405		80,553
Accrued income	14,410		0
	114,815		80,553

8. Creditors: amounts falling due within one year

	31.03.2026		05.04.2025
	£		£
Bank loans (secured)	136,596		135,470
Trade creditors	221,888		219,827
Amounts owed to Group undertakings	701		701
Amounts owed to directors	5,906		15,215
Accruals	0		13,101
Taxation and social security	86,710		94,103
Obligations under finance leases and hire purchase contracts	40,921		71,772
Other creditors	21,837		15,207
	514,559		565,396

The bank loans are secured against the assets they relate to.

9. Creditors: amounts falling due after more than one year

	31.03.2026		05.04.2025
	£		£
Bank loans (secured)	808,797		761,872
Obligations under finance leases and hire purchase contracts	38,843		23,645
	847,640		785,517

The bank loans are secured against the assets they relate to.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.03.2026		05.04.2025
	£		£
Bank loans (secured)	62,638		199,234

The bank loans are secured against the assets they relate to.

10. Called-up share capital

	31.03.2026		05.04.2025
	£		£
Allotted, called-up and fully-paid
2,000 Ordinary A shares of £ 1.00 each	2,000		2,000
4,000 Ordinary B shares of £ 1.00 each	4,000		4,000
4,000 Ordinary C shares of £ 1.00 each	4,000		4,000
	10,000		10,000

11. Financial commitments

Commitments

Capital commitments are as follows:

	31.03.2026		05.04.2025
	£		£
Contracted for but not provided for:
Tangible fixed assets	69,138		83,407

12. Contingencies

Contingent liabilities

At 31 March 2026, the company has 1,737 (2025: 1,768) prepaid funeral plans in existence with Ecclesiastical Planning Services, 65 (2025: 73) prepaid funeral plans with Golden Charter, 85 (2025: 91) prepaid funeral plans with Plan with Grace and 424 (2025: 441) prepaid funeral plans with Dignity. It is impractical to estimate the financial effect of the income from these plans due to the uncertainty of the valuations of the trusts upon realisation.

13. Related party transactions

Transactions with the entity's directors

	31.03.2026		05.04.2025
	£		£
Amounts owed to directors	5,906		15,215

During the period, the Company maintained loan accounts with the Directors. The loans are interest free and repayable on demand.

14. Reserves

	31.03.2026		05.04.2025
	£		£
Revaluation Reserve	281,166		281,166
Investment Property Revaluation Reserve	249,252		249,252
	530,418		530,418

Revaluation Reserve

The revaluation reserve records the difference between the valuation of certain freehold properties and their net book value at the date of valuation. As the assets are depreciated or sold, an appropriate transfer is made from the revaluation reserve to the profit and loss account.

Investment Property

This reserve records the difference between the valuation of investment properties and therefore this reserve forms part of the profit and loss account under FRS102. The the gains and losses are unrealised and so do not form part of the distributable reserves, which is why they have been set aside in a separate reserve.