A.H.Parker & Sons (Gt.Britain) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00363912 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

A.H.PARKER & SONS (GT.BRITAIN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A A Scott

Mrs W M Scott

REGISTERED OFFICE:

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

REGISTERED NUMBER:

00363912 (England and Wales)

ACCOUNTANTS:

D A CLARK & CO. LTD.

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

FIXED ASSETS

Tangible assets

3

1,089

1,139

Investments

4

851,935

917,047

853,024

918,186

CURRENT ASSETS

Stocks

5

79,033

-

Debtors

6

2,013,266

556,791

Cash at bank

98,783

787,745

2,191,082

1,344,536

CREDITORS

Amounts falling due within one year

7

1,587,750

891,491

NET CURRENT ASSETS

603,332

453,045

TOTAL ASSETS LESS CURRENT LIABILITIES

1,456,356

1,371,231

CAPITAL AND RESERVES

Called up share capital

33,600

33,600

Capital redemption reserve

16,800

16,800

Retained earnings

1,405,956

1,320,831

SHAREHOLDERS' FUNDS

1,456,356

1,371,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 June 2018 and were signed on its behalf by:

A A Scott - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2017

12,471

Additions

855

At 31 March 2018

13,326

DEPRECIATION

At 1 April 2017

11,332

Charge for year

905

At 31 March 2018

12,237

NET BOOK VALUE

At 31 March 2018

1,089

At 31 March 2017

1,139

4.	FIXED ASSET INVESTMENTS

31.3.18

31.3.17

£

£

Shares in group undertakings

820,986

820,986

Loans to group undertakings

30,949

96,061

851,935

917,047

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

820,986

NET BOOK VALUE

At 31 March 2018

820,986

At 31 March 2017

820,986

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Parker- Poland SP.Z.O.O

Registered office: 03-289 Warszawa, ul. Reniferowa 88

Nature of business: Distributor of marine related products

%

Class of shares:

holding

Ordinary

99.75

31.12.17

31.12.16

£

£

Aggregate capital and reserves

3,092,798

2,646,246

Profit for the year

499,749

612,179

Loans to

group

undertakings

£

At 1 April 2017

96,061

Repayment in year

(65,112

)

At 31 March 2018

30,949

5.

STOCKS

31.3.18

31.3.17

£

£

Stocks

79,033

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

24,235

15,264

Amounts owed by group undertakings

1,969,949

539,060

VAT

15,460

210

Prepayments and accrued income

3,622

2,257

2,013,266

556,791

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Payments on account

51,822

-

Trade creditors

1,359,986

713,412

Corporation tax

20,225

20,390

Social security and other taxes

1,358

1,705

Other creditors

769

2,394

Accruals and deferred income

3,590

3,590

Dividends payable

150,000

150,000

1,587,750

891,491

8.	RELATED PARTY DISCLOSURES

The company bought services and goods to the value of £99,325 (2017 - £276,030) and supplied goods to the

value of £3,622,295 (2017 - £3,420,858) to its wholly owned Polish subsidiary Parker Poland Sp.z.o.o.

The director, A Scott, rented office facilities to the company during the year to the value of £6,000 (2017 -

£6,000)

The Company has lent Parker Poland Sp.z.o.o the sum of 35,300 euros (2017 - 111,786 euros) on normal

commercial terms to be repaid over 4 years. The balance outstanding at the year end is £30,949 (2017 -

£96,061).

Parker Poland Sp.z.o.o has an overdraft facility with Bank Raiffeisen Bank Polska which will end on 31

October 2018, this will be renewed for a further two years until 31 October 2020.

The two year overdraft agreement does not include any Guarantees by A H Parker & Sons (GB) Ltd. However,

there are provisions in this agreement stating that Parker Poland Sp.z.o.o will not pay more than 400,000 pln

(about 100,000 euro) in dividend per annum to A H Parker & Sons (GB) Ltd without Raiffeisen Bank Polska's

agreement. Also, that the repayments of the loan due to A H Parker & Sons (GB) Ltd of 5,883,49 euro per month

are made up to the end of September 2018 and on time. The loan is not allowed to be repaid early.

A dividend of 390,000 pln has been declared to A H Parker & Sons (GB) Ltd in respect of Parker Poland

Sp.z.o.o. results for the year ended 31 December 2017. A dividend was declared and paid of £80,289 in the year

end 31 March 2017 accounts relating to Parker Poland Sp.z.o.o. 31 December 2016 accounts.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Aeturnus Trust Limited via Korwin Investments Limited.