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Registered number: 01215528
PARKERS MOTOR SERVICES (SYSTON) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
COMPANY INFORMATION
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
CONTENTS
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Independent Auditors' Report
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Consolidated Statement of Comprehensive Income
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Consolidated Balance Sheet
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Consolidated Statement of Changes in Equity
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Company Statement of Changes in Equity
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Consolidated Statement of Cash Flows
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Consolidated Analysis of Net Debt
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Notes to the Financial Statements
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal activity of the Group during the year continued to be that of the provision of motor spares and accessories.
The Group's turnover in 2025 totalled £57.56m, which was an increase of 7.8% on 2024 (£53.39m). This was partly due to the expansion of the Group's network to 33 branches during the year, with the opening of two new sites in 2025, alongside inflationary increases.
The profit after tax increased from £6.68m in 2024 to £7.13m in 2025. The directors are satisfied with the Group's performance and profitability in a market which remained very competitive.
The Group continues to maintain strong relationships with its suppliers in order to ensure that it can provide quality products to its customers at competitive prices.
Market conditions are expected to remain very competitive in the foreseeable future, however, the directors anticipate continued steady growth in turnover and profitability in the coming year and remain committed to focusing on opportunities for the development and growth of the group's core activity.
Principal risks and uncertainties
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The directors consider that the Group has similar potential risks to those faced by other companies in the sector.
Loss of key customers and suppliers
There is a risk over retaining the loyalty of key customers and suppliers. Considerable emphasis is devoted to maintaining service levels with customers and working closely with suppliers on logistical and quality issues to ensure that high levels of performance are achieved.
Credit risk
The inability of customers to pay amounts due to the Group due to financial difficulties is a risk. To minimise this risk, the Group employs pro-active credit control techniques, such as applying appropriate credit limits and monitoring payment patterns and debt levels on a regular basis.
Economic risk
There is a risk of increased interest rates and inflation having an adverse impact on the market place, as well as the risk of unrealistic increases in labour and other costs impacting adversely on the competitiveness of the Group. These risks are mitigated by maintaining strict control over costs and continual monitoring of financial performance.
Financial key performance indicators
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The key performance indicators of the Group are turnover, gross margin and net profit, all of which can be evidenced on the Profit and Loss Account. Turnover and gross margin are monitored daily by the directors and overall Group performance is measured on a monthly basis through detailed management accounts.
Other key performance indicators
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The Group uses non-financial KPIs as part of its overall assessment strategy. This includes monitoring the number of missed calls at the sales desks in each branch.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Directors' statement of compliance with duty to promote the success of the Group
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Section 172 of the Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the Group for the benefit of its members as a whole.
In doing this, Section 172 requires a director to have regard, amongst other matters, to the:
- Likely consequences of any decisions in the long-term;
- Interests of the Group's employees;
- Need to foster the Group's business relationships with suppliers, customers and others;
- Impact of the Group's operations on the community and environment;
- Desirability of the Group maintaining a reputation for high standards of business conduct; and
- Need to act fairly as between members of the Group.
The likely consequences of any decision in the long term
By understanding the business and the environment in which it operates, the directors remain mindful of the long term implications that strategic decisions will have for the Group and its stakeholders. There is a clear plan for organic growth which ensures the Group continues to offer a comprehensive and efficient distribution service to customers. This long-term strategy has resulted in the opening of 2 new sites during the year, with further branches due to open in 2026, satisfying customer and shareholder needs. The directors take care to consider the interests of all stakeholders when deciding on courses of action. Regular meetings take place to discuss business strategy, potential risks and key laws and regulations to ensure operating methods and decisions deliver on the directors' duty of care for the benefit of its members and stakeholders.
The interests of the Group's employees
The directors recognise that the employees are key to the business and its success. They engage with the workforce to ensure that they are fostering an environment that the employees are happy to work in and that best supports their well-being. The directors benefit from having a knowledgeable, experienced senior management team who, along with the directors themselves, are actively involved in the day to day running of the business and maintain regular communication with branch staff. Regular external health and safety checks are carried out which helps support employees' welfare and well-being.
The need to foster the Group's business relationships with suppliers, customers and others
The directors recognise that the success of the Group is also reliant on building strong relationships with suppliers and customers. The directors acknowledge it is their duty to provide value and quality to customers and this can only be achieved by building relationships with key suppliers. The Group has a large and varied supplier base from international to local independent family run businesses.
The impact of the Group's operations on the community and environment
The directors are committed to maintaining positive relationships with the communities in which the Group operates, and recognise the importance of minimising the impact of their operations on the community and environment. Contributions are frequently made to various charitable bodies and the Group strives to support and sponsor local sport teams, clubs and events. Good environmental management is aligned with a focus on cost optimisation and the Group is committed to reducing its carbon emissions.
The desirability of the Group maintaining a reputation for high standards of business conduct
The directors have always maintained a responsible business conduct and strong ethics. They are committed to improving quality in all aspects of the business and have implemented policies and procedures in line with regulatory requirements to prevent misconduct and discrimination.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The need to act fairly between members of the Group
The directors openly engage with all shareholders on a regular basis and provide management information to ensure that the long-term strategy is understood. Any course of action is discussed with the interests of all shareholders considered equally.
This report was approved by the board.
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R D Parker
Director
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £7,130,554 (2024 - £6,682,954).
During the year the directors recommended the payment of dividends amounting to £5,169,678 (2024: £4,807,560).
The directors who served during the year were:
The directors anticipate pressure on gross profit percentage to remain in the future. They will also look to take advantage of any available efficiency savings and to maintain tight control over costs.
After reviewing the Group's forecasts and projections, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least 12 months from
the date of approval of these financial statements. The directors have not identified any material uncertainties in relation to going concern and the Group therefore continues to adopt the going concern basis in preparing its financial statements.
The Group's principal financial instruments comprise bank balances, trade creditors, trade debtors and loans to the Group from the directors and Parkers Motor Services (Syston) Limited. The main purpose of these instruments is to raise funds for the Group's operations. The risk attached to these instruments is managed by ensuring that sufficient funds are available to meet amounts as they fall due. There is minimal risk attached to the directors' loan accounts as repayments of amounts due are at the discretion of the directors.
Engagement with employees
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Throughout the year the Group has continued to consult and discuss with employees on matters likely to affect their interests. This has been achieved through management meetings, bulletins and ad hoc reports.
Information is provided to employees in order to achieve a common awareness of financial and economic factors affecting the Group's performance.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Applications for employment by disabled persons are given full and fair consideration for all vacancies, having regard to their particular aptitudes and abilities.
In the event of employees becoming disabled, every effort is given to retrain them in order that their employment with the Group may continue.
It is the policy of the Group that training, career development and promotion opportunities should be available to all employees.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Group is committed to reducing the amount of energy used throughout the business and ultimately reducing its carbon footprint. The Group has complied with all applicable legislation and regulations.
Following a change in reporting requirements, The Companies Act 2006 (Strategic Report and Directors' Report). Regulation 2018 requires Parker Motor Services Limited to disclose annual UK energy consumption and Greenhouse Gas emissions. This is our fourth report on energy consumption and Greenhouse Gas Emissions.
Consumption (kWh) and Greenhouse Gas emissions (tCO2e) totals
Scope 1 - direct emissions from those activities owned or controlled by the Group. This relates to the combustion of natural gas, and fuels utilised for transportation operations, such as company vehicle fleets.
Scope 2 - energy indirect emissions are those released into the atmosphere in relation to the consumption of purchased electricity in day-to-day business operations.
Scope 3 - other indirect emissions resulting from sources not directly owned by the Group. After careful review of the GHG Protocol, it was deemed that there were no such emissions under Scope 3 that would require disclosure.
Totals
The total consumption (kWh) figures for energy supplies reportable by Parker Motor Services Limited are as follows:
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Fuel consumed for own transport
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Grid-supplied electricity
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The total emissions (tCO2e) figures resulting from the above consumption:
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Fuel consumed for own transport
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Grid-supplied electricity
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Intensity ratio
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £1m of turnover:
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
tCO2e / £m - 27.59 (2024 - 27.75)
Quantification and reporting methodology
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol - Corporate Standard and have used the 2025 UK Government's Conversion Factors for Company Reporting
Measures taken to improve energy efficiency
The Group is committed to year on year improvements in its operational energy efficiency. Site and transport surveys have been carried out to identify cost effective energy saving opportunities.
During recent years a number of sites have had additional thermal insulation installed above the suspended ceilings, as well as non-LED lighting being replaced with energy efficient LED lights where possible. A project to install solar panels at the majority of the Group’s sites was completed in 2024.
Directors' responsibilities statement
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The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Disclosure of information to auditors
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Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
Post balance sheet events
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On 31 March 2026, Parkers Investments LLP transferred its business and assets, to Joseph Esther Properties Limited as a going concern. As the transaction occurred after the reporting date, it has not been reflected in the amounts recognised in these financial statements.
The auditors, TC Group, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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R D Parker
Director
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PARKERS MOTOR SERVICES (SYSTON) LIMITED
We have audited the financial statements of Parkers Motor Services (Syston) Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 31 December 2025 and of the Group's profit for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PARKERS MOTOR SERVICES (SYSTON) LIMITED (CONTINUED)
The directors are responsible for the other information. The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
∙the Parent Company financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PARKERS MOTOR SERVICES (SYSTON) LIMITED (CONTINUED)
Responsibilities of directors
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As explained more fully in the Directors' Responsibilities Statement set out on page 7, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PARKERS MOTOR SERVICES (SYSTON) LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management and those charged with governance around actual, potential or suspected
litigation, claims, non-compliance with applicable laws and regulations and fraud;
∙Enquiry of entity staff in tax and compliance functions and external advisors to identify any instances of
non-compliance with laws and regulations;
∙Performing audit work over the risk of management override, including testing of journal entries and other
adjustments for appropriateness, evaluating the business rationale of significant transactions outside the
normal course of business and reviewing the accounting estimates for bias.
∙Reviewing financial statement disclosures and testing them against supporting documentation to assess
compliance with applicable laws and regulations
∙Discussions amongst the engagement team in relation to how and where fraud might occur in the financial
statements and any potential indicators of fraud.
∙Reviewing minutes of meetings during the year.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Where the risk was considered to be higher, we performed audit procedures to address each
identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement
disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of
management, and were designed to provide reasonable assurance that the financial statements were free from
fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely
the inherently limited procedures required by auditing standards would identify it. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our
Auditors' Report.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PARKERS MOTOR SERVICES (SYSTON) LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Shiran Wynter (ACA) (Senior Statutory Auditor)
for and on behalf of
TC Group, Statutory Auditor
1 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
28 August 2026
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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Income from fixed assets investments
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Interest receivable and similar income
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Interest payable and similar expenses
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Profit for the financial year
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Total comprehensive income for the year
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Profit for the year attributable to:
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Owners of the Parent Company
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Total comprehensive income for the year attributable to:
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Owners of the Parent Company
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The notes on pages 22 to 43 form part of these financial statements.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
REGISTERED NUMBER: 01215528
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Equity attributable to owners of the Parent Company
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2026.
................................................
R D Parker
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The notes on pages 22 to 43 form part of these financial statements.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
REGISTERED NUMBER: 01215528
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
REGISTERED NUMBER: 01215528
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Profit and loss account carried forward
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2026.
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R D Parker
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The notes on pages 22 to 43 form part of these financial statements.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Equity attributable to owners of Parent Company
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Comprehensive income for the year
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Dividends: Equity capital
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Comprehensive income for the year
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Dividends: Equity capital
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The notes on pages 22 to 43 form part of these financial statements.
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Profit and Loss Account
Includes all current and prior year retained profits and losses.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Comprehensive income for the year
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Dividends: Equity capital
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Comprehensive income for the year
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Dividends: Equity capital
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The notes on pages 22 to 43 form part of these financial statements.
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Profit and Loss Account
Includes all current and prior year retained profits and losses. All amounts are distributable.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Profit for the financial year
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Depreciation of tangible assets
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Loss on disposal of tangible assets
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Income from investments and interest received
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Net cash generated from operating activities
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Sale of tangible fixed assets
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Net cash from investing activities
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Cash flows from financing activities
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Repayment of/new finance leases
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Net cash used in financing activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at beginning of year
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
The notes on pages 22 to 43 form part of these financial statements.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The entity is a private company limited by shares which is incorporated in England and Wales, registration number 01215528. The registered office is 6 Foundry Square, Belgrave Gate, Leicester, LE1 3WW.
The principal activity of the Company continued to be that of management and property investment. The principal activity of the subsidiary company, Parker Motor Services Limited, continued to be that of the provision of motor spares and accessories.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
After reviewing the Group's forecasts and projections, the directors have a reasonable expectation that the Group has adequate resources to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements. The Group therefore continues to adopt the going concern basis in preparing its financial statements.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Group's accounting policies (see note 3).
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Group has transferred the significant risks and rewards of ownership to the buyer;
∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Group will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Operating leases: the Group as lessor
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Rental income from operating leases is credited to the Consolidated Statement of Comprehensive Income on a straight-line basis over the lease term.
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Operating leases: the Group as lessee
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Rentals paid under operating leases are charged to the Consolidated Statement of Comprehensive Income on a straight-line basis over the lease term.
Interest income is recognised in the Consolidated Statement of Comprehensive Income using the effective interest method.
Finance costs are charged to the Consolidated Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Consolidated Statement of Comprehensive Income during the period in which they are incurred.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.
Depreciation is provided on the following basis:
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Leasehold property improvements
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20%, 25% or 33.3% on cost
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of Comprehensive Income.
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Investments in subsidiaries and associates
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Investments in subsidiaries are measured at cost less accumulated impairment.
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is computed on an average cost basis for each product line. Net realisable value is based on estimated selling price less the estimated cost of disposal.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
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.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Group's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Consolidated Statement of Comprehensive Income within 'other operating income'.
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Hire purchase and leasing commitments
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Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to the Consolidated Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.
Defined contribution pension plan
The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.
The contributions are recognised as an expense in the Consolidated Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
Increases in provisions are generally charged as an expense to the Consolidated Statement of Comprehensive Income.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
(i) Impairment of intangible assets and goodwill
The Group considers whether intangible assets and/or goodwill are impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash generating units (CGUs). This requires estimation of the future cash flows from the CGUs and also selection of appropriate discount rates in order to calculate the net present value of those cash flows.
(ii) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
(iii) Carrying value of fixed asset investments
The Group considers whether the carrying value of investments are impaired. Where an indication of impairment is identified, the estimated expected future economic benefit from the asset is assessed in order to calculate the recoverable value.
(iv) Stocks provisioning
The Group continues to purchase motor parts for resale. The directors consider the recoverability of the cost of stocks and any associated provisioning required. When calculating the stocks provision, the directors consider the nature and condition of the stocks, as well as applying assumptions around anticipated saleability.
(v) Impairment of debtors
The Group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the age profile of debtors and historical experience.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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An analysis of turnover by class of business is as follows:
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Motor spares and accessories
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All turnover arose within the United Kingdom.
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The operating profit is stated after charging / (crediting):
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Depreciation - Tangible Fixed Assets
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Loss on disposal of fixed assets
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Rental Received on Operating leases
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Vehicle Operating Lease Rentals
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Land and Buildings Operating Lease Rentals
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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During the year, fees payable to the Group's auditor and its associates for the audit of the Group's financial statements were £7,500 (2024 - £7,500).
During the year, fees payable to the Group's auditors and their associates in respect of the auditing of accounts of subsidiaries were £20,000 (2024 - £20,000).
During the year, fees payable to the Group's auditors and their associates in respect of taxation compliance services were £5,500 (2024 - £5,500).
During the year, fees payable to the Group's auditors and their associates in respect of all non-audit services not included above were £21,250 (2024 - £21,250).
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Staff costs, including directors' remuneration, were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Management and administration
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During the year, directors' emoluments (including benefits in kind) totalled £139,166 (2024: £143,246).
During the year, the Group's contribution to directors' defined contribution pension schemes totalled
£60,000 (2024: £60,000).
During the year retirement benefits were accruing to 6 directors (2024 - 6) in respect of defined contribution pension schemes.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Bank and other interest receivable
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Interest payable and similar expenses
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Other loan interest payable
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Finance leases and hire purchase contracts
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Current tax on profits for the year
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Origination and reversal of timing differences
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Taxation (continued)
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Factors affecting tax charge for the year
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The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
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Profit on ordinary activities before tax
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Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)
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Expenses not deductible for tax purposes
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Depreciation in excess of capital allowances for year
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Other differences leading to an increase (decrease) in the tax charge
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Loss on disposal of fixed assets
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Total tax charge for the year
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Factors that may affect future tax charges
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There were no factors that may affect future tax charges.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Dividends paid on A ordinary shares
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Dividends paid on B ordinary shares
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Dividends paid on C ordinary shares
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Dividends paid on D ordinary shares
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Dividends paid on E ordinary shares
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Dividends paid on F ordinary shares
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Dividends paid on G ordinary shares
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Dividends paid on H ordinary shares
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Dividends paid on I ordinary shares
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Dividends paid on J ordinary shares
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Dividends paid on K ordinary shares
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Dividends paid on L ordinary shares
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Dividends paid on M ordinary shares
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Dividends paid on N ordinary shares
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Dividends paid on P ordinary shares
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Dividends paid on Q ordinary shares
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Dividends paid on R ordinary shares
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Dividends paid on S ordinary shares
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Parent company profit for the year
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The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £5,375,506 (2024 - £4,844,288).
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Leasehold property improvements
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Investments in associates
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Investments in subsidiary companies
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Investments in associates
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The following was a subsidiary undertaking of the Company:
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Parker Motor Services Limited
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6 Foundry Square,
Belgrave Gate,
Leicester, LE1 3WW
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Finished goods and goods for resale
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Amounts owed by group undertakings
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Amounts owed by joint ventures and associated undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to associates
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The Company has granted Barclays Bank plc fixed and floating charges over its undertaking and all its present and future assets. The charges secure amounts owed to Barclays Bank plc by the Company, whether directly or contingently and whether as principal or surety.
Obligations under hire purchase agreements are secured on the assets to which they relate.
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Charged to profit or loss
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
21.Deferred taxation (continued)
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Accelerated capital allowances
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5,330 (2024 - 5,330) Ordinary shares of £1.00 each
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10,642 (2024 - 10,642) A Ordinary shares of £1.00 each
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10,642 (2024 - 10,642) B Ordinary shares of £1.00 each
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30 (2024 - 30) C Ordinary shares of £1.00 each
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30 (2024 - 30) D Ordinary shares of £1.00 each
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5,287 (2024 - 5,287) E Ordinary shares of £1.00 each
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5,287 (2024 - 5,287) F Ordinary shares of £1.00 each
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5,288 (2024 - 5,288) G Ordinary shares of £1.00 each
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40 (2024 - 40) H Ordinary shares of £1.00 each
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40 (2024 - 40) I Ordinary shares of £1.00 each
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40 (2024 - 40) J Ordinary shares of £1.00 each
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5,326 (2024 - 5,326) K Ordinary shares of £1.00 each
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5,326 (2024 - 5,326) L Ordinary shares of £1.00 each
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30 (2024 - 30) M Ordinary shares of £1.00 each
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30 (2024 - 30) N Ordinary shares of £1.00 each
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60 (2024 - 60) P Ordinary shares of £1.00 each
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5,302 (2024 - 5,302) Q Ordinary shares of £1.00 each
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2,651 (2024 - 2,651) R Ordinary shares of £1.00 each
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2,651 (2024 - 2,651) S Ordinary shares of £1.00 each
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The Ordinary, Ordinary A, B, C, D, E, F, G, H, I, J, K, L, M, N, P, Q, R and S shares rank pari passu in all respects except for the voting of dividends. Dividends may be voted to one class of share without the equivalent being voted to another class of share.
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Commitments under operating leases
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At 31 December 2025 the Group had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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At 31 December 2025 the Group had future minimum lease payments receivable under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The group has taken advantage of the exemption available under FRS 102 33.1A not to disclose transactions with wholly owned subsidiaries of the Group.
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Sales to key management personnel
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Leasing from key management personnel
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Loans due to key management personnel
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Interest charged by the entity to other related parties
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Salary and pension to key management personnel
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Leasing from other related parties
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Sales to other related parties
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Purchases from other related parties
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Loans due to other related parties
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Loans due from other related parties
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Loans due from other related party individuals
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PARKERS MOTOR SERVICES (SYSTON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company has no ultimate controlling party in the current year, nor in the preceding year.
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