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Registration number: 11122880

Par Process Analysis Reagents and Chemicals Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

Pages for Filing with Registrar

 

Par Process Analysis Reagents and Chemicals Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Par Process Analysis Reagents and Chemicals Limited

Company Information

Director

M Callioglu

Registered office

1st Floor
25 King Street
Bristol
United Kingdom
BS1 4PB

Registered number

11122880

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Par Process Analysis Reagents and Chemicals Limited

(Registration number: 11122880)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

800

800

Tangible assets

5

773

668

 

1,573

1,468

Current assets

 

Debtors

6

287,757

232,885

Cash at bank and in hand

 

17,370

377

 

305,127

233,262

Creditors: Amounts falling due within one year

7

(302,443)

(193,706)

Net current assets

 

2,684

39,556

Net assets

 

4,257

41,024

Capital and reserves

 

Called up share capital

500

500

Profit and loss account

3,757

40,524

Total equity

 

4,257

41,024

 

Par Process Analysis Reagents and Chemicals Limited

(Registration number: 11122880)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to
companies subject to the small companies regime and the option not to file the Profit and Loss
Account has been taken.

Approved and authorised for issue by the director on 10 August 2022
 

.........................................

M Callioglu
Director

 

Par Process Analysis Reagents and Chemicals Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1

Statutory information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Par Process Analysis Reagents and Chemicals Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Office equipment

Over 4 years on a straight-line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

 

Par Process Analysis Reagents and Chemicals Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Intangible fixed assets

Website development
 £

Cost

At 1 January 2021

800

At 31 December 2021

800

Carrying amount

At 31 December 2021

800

At 31 December 2020

800

 

Par Process Analysis Reagents and Chemicals Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

5

Tangible fixed assets

Office equipment
 £

Cost

At 1 January 2021

1,016

Additions

541

Disposals

(300)

At 31 December 2021

1,257

Depreciation

At 1 January 2021

348

Charge for the year

292

Eliminated on disposal

(156)

At 31 December 2021

484

Carrying amount

At 31 December 2021

773

At 31 December 2020

668

 

Par Process Analysis Reagents and Chemicals Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

6

Debtors: amounts falling due within one year

2021
£

2020
£

Trade debtors

99,290

187,971

Other debtors

29,417

-

Prepayments and accrued income

158,921

36,053

VAT

129

173

Corporation tax

-

8,688

287,757

232,885

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Trade creditors

 

1,791

129,245

Taxation and social security

 

1,699

1,700

Other creditors

 

443

9,538

Accruals

 

94,549

1,800

Directors' loan accounts

203,961

51,423

 

302,443

193,706

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £10 each

50

500

50

500