1 January 2022 false No description of principal activity Taxfiler 2023.9 11153103business:PrivateLimitedCompanyLtd2022-01-012022-12-31 111531032021-12-31 111531032022-01-012022-12-31 11153103business:AuditExemptWithAccountantsReport2022-01-012022-12-31 11153103business:AbridgedAccounts2022-01-012022-12-31 111531032022-12-31 111531032021-12-31 11153103core:WithinOneYear2022-12-31 11153103core:WithinOneYear2021-12-31 11153103core:AfterOneYear2022-12-31 11153103core:AfterOneYear2021-12-31 11153103core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 11153103core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 11153103core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 11153103core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 11153103core:PreviouslyStatedAmount2022-12-31 11153103core:PreviouslyStatedAmount2021-12-31 11153103business:SmallEntities2022-01-012022-12-31 11153103business:Director12022-01-012022-12-31 11153103countries:EnglandWales2022-01-012022-12-31 11153103business:RegisteredOffice2022-01-012022-12-31 11153103core:MotorVehicles2022-01-012022-12-31 11153103core:ComputerEquipment2022-01-012022-12-31 111531032021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 11153103 (England and Wales)
PARALLEL SECURITY LIMITED Unaudited accounts for the year ended 31 December 2022
PARALLEL SECURITY LIMITED Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
95,000 
8,400 
Tangible assets
19,386 
1,136 
114,386 
9,536 
Current assets
Debtors
505,931 
652,567 
Cash at bank and in hand
9,178 
114,067 
515,109 
766,634 
Creditors: amounts falling due within one year
(294,576)
(445,315)
Net current assets
220,533 
321,319 
Total assets less current liabilities
334,919 
330,855 
Creditors: amounts falling due after more than one year
(22,589)
(41,519)
Net assets
312,330 
289,336 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
312,230 
289,236 
Shareholders' funds
312,330 
289,336 
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 September 2023 and were signed on its behalf by
Mr F Johnson Director Company Registration No. 11153103
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PARALLEL SECURITY LIMITED Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
PARALLEL SECURITY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11153103. The registered office is PRINCIPAL'S HOUSE, 51 REGENT STREET, WREXHAM, LL11 1PF, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
15% SL
Computer equipment
25% SL
4
Intangible fixed assets
Total 
£ 
Cost
At 1 January 2022
14,000 
Additions
88,000 
At 31 December 2022
102,000 
Amortisation
At 1 January 2022
5,600 
Charge for the year
1,400 
At 31 December 2022
7,000 
Net book value
At 31 December 2022
95,000 
At 31 December 2021
8,400 
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PARALLEL SECURITY LIMITED Notes to the Accounts for the year ended 31 December 2022
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2022
1,524 
Additions
18,250 
At 31 December 2022
19,774 
Depreciation
At 1 January 2022
388 
At 31 December 2022
388 
Net book value
At 31 December 2022
19,386 
At 31 December 2021
1,136 
6
Average number of employees
During the year the average number of employees was 46 (2021: 70).
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