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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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for |
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Smith & Parker Holdings Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 August 2020 |
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for |
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Smith & Parker Holdings Ltd |
Smith & Parker Holdings Ltd (Registered number: 10760228) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
Smith & Parker Holdings Ltd |
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Company Information |
for the Year Ended 31 August 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
Smith & Parker Holdings Ltd (Registered number: 10760228) |
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Balance Sheet |
31 August 2020 |
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31.8.20 | 31.8.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Smith & Parker Holdings Ltd (Registered number: 10760228) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2020 |
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1. | STATUTORY INFORMATION |
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Smith & Parker Holdings Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The company's trading address is 299 Vicarage Road, Kings Heath, Birmingham. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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At the balance sheet date the company had net current liabilities of £399,669 however the director believes that the company will be able to meet its liabilities as they fall due and therefore feels it appropriate to draw up these financial statements on the going concern basis. These financial statements do not include any adjustments that would result should the company be unable to continue trading. |
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Preparation of consolidated financial statements |
The financial statements contain information about Smith & Parker Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Investments in subsidiaries |
Investments in subsidiaries are valued at cost less impairment. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Smith & Parker Holdings Ltd (Registered number: 10760228) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2019 |
and 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Directors' current accounts | 20 | 20 |
Accruals and deferred income |
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7. | CAPITAL COMMITMENTS |
31.8.20 | 31.8.19 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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8. | RELATED PARTY DISCLOSURES |
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At 31 August 2020 the company benefited from loans advanced by members of key management personnel to the value of £20. These loans are unsecured and interest free with no specific repayment terms and are presented within creditors falling due within one year. |
Smith & Parker Holdings Ltd (Registered number: 10760228) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2020 |
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9. | POST BALANCE SHEET EVENTS |
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These financial statements were authorised for issue by the Board of Directors on 27 May 2021. |
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10. | SECURED LIABILITIES |
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Included within other creditors is a balance of £92,946 (2019 - £144,470) for which a subsidiary company has provided security in the form of a fixed and floating charge over its property or undertaking, dated 24 January 2018. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Smith & Parker Holdings Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smith & Parker Holdings Ltd for the year ended 31 August 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Smith & Parker Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 6 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Smith & Parker Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Smith & Parker Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smith & Parker Holdings Ltd and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Smith & Parker Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smith & Parker Holdings Ltd. You consider that Smith & Parker Holdings Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Smith & Parker Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
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