Registration number:
for the Year Ended
Parker Software Limited
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
Parker Software Limited
(Registration number: 04525820)
Abbreviated Balance Sheet as at 30 September 2016
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2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
.........................................
S Parker
Company secretary and director
Parker Software Limited
Notes to the Abbreviated Accounts
Accounting policies |
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015)
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Freehold property |
Not provided |
Fixtures and fittings |
10% on reducing balance |
Motor vehicles |
25% on reducing balance |
Computer equipment |
33% on reducing balance |
Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
Provisions
A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.
Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.
Parker Software Limited
Notes to the Abbreviated Accounts
Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Fixed assets |
Tangible assets |
Investments |
Total |
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Cost |
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At 1 October 2015 |
1,104,533 |
6,326 |
1,110,859 |
Additions |
4,578 |
- |
4,578 |
At 30 September 2016 |
1,109,111 |
6,326 |
1,115,437 |
Depreciation |
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At 1 October 2015 |
105,130 |
- |
105,130 |
Charge for the year |
15,663 |
- |
15,663 |
At 30 September 2016 |
120,793 |
- |
120,793 |
Net book value |
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At 30 September 2016 |
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At 30 September 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
Related party transactions |
Transactions with directors |
Other transactions with directors
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Control |
The directors are the controlling party by virtue of their controlling shareholding in the company.