Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30112021-12-01falseRetail pharmacy13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04502686 2021-12-01 2022-11-30 04502686 2020-12-01 2021-11-30 04502686 2022-11-30 04502686 2021-11-30 04502686 c:Director1 2021-12-01 2022-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2021-12-01 2022-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2022-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2021-11-30 04502686 d:FurnitureFittings 2021-12-01 2022-11-30 04502686 d:FurnitureFittings 2022-11-30 04502686 d:FurnitureFittings 2021-11-30 04502686 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 04502686 d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 04502686 d:Goodwill 2021-12-01 2022-11-30 04502686 d:Goodwill 2022-11-30 04502686 d:Goodwill 2021-11-30 04502686 d:CurrentFinancialInstruments 2022-11-30 04502686 d:CurrentFinancialInstruments 2021-11-30 04502686 d:Non-currentFinancialInstruments 2022-11-30 04502686 d:Non-currentFinancialInstruments 2021-11-30 04502686 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04502686 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 04502686 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 04502686 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 04502686 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 04502686 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-11-30 04502686 d:ShareCapital 2022-11-30 04502686 d:ShareCapital 2021-11-30 04502686 d:RetainedEarningsAccumulatedLosses 2022-11-30 04502686 d:RetainedEarningsAccumulatedLosses 2021-11-30 04502686 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 04502686 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-11-30 04502686 c:FRS102 2021-12-01 2022-11-30 04502686 c:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 04502686 c:FullAccounts 2021-12-01 2022-11-30 04502686 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 04502686 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 04502686 d:AcceleratedTaxDepreciationDeferredTax 2021-11-30 04502686 d:Goodwill d:OwnedIntangibleAssets 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 04502686










A R PARMAR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

 
A R PARMAR LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFA R PARMAR LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A R Parmar Limited for the year ended 30 November 2022 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of A R Parmar Limited in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of A R Parmar Limited and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A R Parmar Limited and its  director for our work or for this report.
 
 
It is your duty to ensure that A R Parmar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that A R Parmar Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of A R Parmar Limited. 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.





Shipleys Tax Planning

27 November 2023
Page 1

 
A R PARMAR LIMITED
REGISTERED NUMBER: 04502686

BALANCE SHEET
AS AT 30 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
16,500
33,000

Tangible assets
 5 
68,603
70,749

  
85,103
103,749

Current assets
  

Stocks
  
50,350
50,704

Debtors: amounts falling due within one year
 6 
260,509
156,179

Cash at bank and in hand
 7 
20,436
49,518

  
331,295
256,401

Creditors: amounts falling due within one year
 8 
(208,299)
(160,862)

Net current assets
  
 
 
122,996
 
 
95,539

Total assets less current liabilities
  
208,099
199,288

Creditors: amounts falling due after more than one year
 9 
(133,296)
(155,000)

Provisions for liabilities
  

Deferred tax
 12 
(31)
(31)

  
 
 
(31)
 
 
(31)

Net assets
  
74,772
44,257


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
74,672
44,157

  
74,772
44,257


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 2

 
A R PARMAR LIMITED
REGISTERED NUMBER: 04502686

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2022


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




P M Patel
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

A R Parmar Limited is a company domiciled in England & Wales, registration number 04502686. The registered office is 253 Whitechapel Road, London, E1 1DB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
15 years
Fixtures & fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Page 7

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2021 - 11).

Page 8

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

4.


Intangible assets




Goodwill

£



Cost


At 1 December 2021
330,000



At 30 November 2022

330,000



Amortisation


At 1 December 2021
297,000


Charge for the year on owned assets
16,500



At 30 November 2022

313,500



Net book value



At 30 November 2022
16,500



At 30 November 2021
33,000



Page 9

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 December 2021
72,413
133,159
205,572


Additions
-
4,739
4,739



At 30 November 2022

72,413
137,898
210,311



Depreciation


At 1 December 2021
8,490
126,333
134,823


Charge for the year on owned assets
4,828
2,058
6,886



At 30 November 2022

13,318
128,391
141,709



Net book value



At 30 November 2022
59,095
9,507
68,602



At 30 November 2021
63,923
6,826
70,749


6.


Debtors

2022
2021
£
£


Trade debtors
51,794
26,958

Amounts owed by group undertakings
173,462
98,299

Other debtors
15,245
11,688

Prepayments and accrued income
20,008
19,234

260,509
156,179



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
20,436
49,518

20,436
49,518


Page 10

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
111,930
81,571

Corporation tax
16,110
6,449

Other taxation and social security
3,383
1,552

Other creditors
13,931
14,979

Accruals and deferred income
62,945
56,311

208,299
160,862



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
133,296
155,000

133,296
155,000


The company has an existing loan with Funding Circle of £155,000. Interest is charged at a fixed rate of 21.9%. The loan is repayable to Funding Circle after a period of 5 years (2021: 6 years).


10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£




Amounts falling due after more than 5 years

Bank loans
133,296
155,000

133,296
155,000

133,296
155,000


Page 11

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

11.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
20,436
49,518




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


12.


Deferred taxation




2022


£






At beginning of year
(31)



At end of year
(31)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(31)
(31)

(31)
(31)


13.


Related party transactions

During the year the company loaned the parent company PMP Operations Ltd £75,163 (2021: £23,437). At the balance sheet date other debtors included £173,462 (2021: £98,299) as amounts owed by PMP Operations Ltd.


14.


Controlling party

The company is a wholly owned subsidiary of PMP Operations Ltd a company which is ultimately controlled by the director Mr Purav Patel.


Page 12