1.
General Information
Park & Landscapes Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
09407893
. The registered office is Meryll House, 57 Worcester Road, Bromsgrove, Worcestershire, B61 7DN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 Decmeber 2025 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS105, the date of transition to FRS 102 Section 1A is 1st February 2024.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
Park & Landscapes Ltd
Notes to the Financial Statements (continued)
For the Period 1 February 2025 to 31 December 2025
2.4.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
2.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
Average number of employees, including directors, during the period was: 9 (2025: 9)
Park & Landscapes Ltd
Notes to the Financial Statements (continued)
For the Period 1 February 2025 to 31 December 2025
4.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 February 2025 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
( |
|
|
( |
| As at 31 December 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 February 2025 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
( |
|
|
( |
| As at 31 December 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2025 |
|
|
|
|
| As at 1 February 2025 |
|
|
|
|
5.
Stocks
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Work in progress |
|
|
|
6.
Debtors
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 104,962 | 61,333 | |
|
|
|
||
Park & Landscapes Ltd
Notes to the Financial Statements (continued)
For the Period 1 February 2025 to 31 December 2025
7.
Creditors: Amounts Falling Due Within One Year
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other creditors | 43,575 | 136,974 | |
| Taxation and social security |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
| Amounts owed to participating interests |
|
|
|
|
|
|
||
9.
Secured Creditors
Of the creditors the following amounts are secured.
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts | 403,051 | 213,995 |
10.
Obligations Under Finance Leases and Hire Purchase
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
Park & Landscapes Ltd
Notes to the Financial Statements (continued)
For the Period 1 February 2025 to 31 December 2025
11.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 31 December 2025 | 31 January 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Accelerated capital allowances |
|
|
|
13.
Related Party Transactions
Included in other creditors is a creditor of £38,554 (2024 £125,808) due to a limited company under the control of the
director of Park & Landscapes Ltd. This creditor is considered to be repayable on demand.
Included in other debtors is a debtor of £27,030 (2024 nil) due to a limited company under the control of the
director of Park & Landscapes Ltd. This creditor is considered to be repayable on demand.
14.
Transition to FRS 102
14.
Transition to FRS 102 - continued
|
1 February 2024
|
31 January 2025
|
||
|
£
|
£
|
||
|
Equity as reported under FRS105
|
128,507
|
494,964
|
|
|
Deferred taxtaion
|
(74,497)
|
(128,516)
|
|
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
Equity as restated under FRS102
|
54,010
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
366,448
|
|
31 January 2025
|
||
|
£
|
||
|
Profit as Reported under FRS105
|
454,455
|
|
|
Deferred taxation provision
|
(54,019)
|
|
|
|
||
|
Profit as restated under FRS102
|
400,436
|
...CONTINUED
Park & Landscapes Ltd
Notes to the Financial Statements (continued)
For the Period 1 February 2025 to 31 December 2025
The comparative has been restated to be in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105. The only change is the provision of deferred taxation.