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REGISTERED NUMBER: 05460404 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Parron Ltd

Parron Ltd (Registered number: 05460404)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parron Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Carvajal
C C Elkington
Ms L R Padilla





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 05460404 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Parron Ltd (Registered number: 05460404)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,625 15,250
Tangible assets 5 54,356 69,804
61,981 85,054

CURRENT ASSETS
Stocks 8,472 8,225
Debtors 6 21,482 17,142
Cash at bank and in hand 31,239 21,275
61,193 46,642
CREDITORS
Amounts falling due within one year 7 (77,654 ) (57,492 )
NET CURRENT LIABILITIES (16,461 ) (10,850 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,520

74,204

CREDITORS
Amounts falling due after more than one
year

8

(12,214

)

(22,418

)

PROVISIONS FOR LIABILITIES (13,589 ) (17,451 )
NET ASSETS 19,717 34,335

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,617 34,235
SHAREHOLDERS' FUNDS 19,717 34,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Parron Ltd (Registered number: 05460404)

Balance Sheet - continued
31 March 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2024 and were signed on its behalf by:





C Carvajal - Director


Parron Ltd (Registered number: 05460404)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Parron Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

The financial statements are presented in pounds sterling and rounded to the nearest £. The company's functional currency is also pounds sterling.

Going concern
Current liabilities exceed current assets, however, after reviewing the entities forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Tips income is recognised when received and government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of eighteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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

Parron Ltd (Registered number: 05460404)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include deposits held at call with banks.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to the pension schemes of personnel and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation , and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking in to account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 25 ) .

Parron Ltd (Registered number: 05460404)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 122,000
AMORTISATION
At 1 April 2023 106,750
Charge for year 7,625
At 31 March 2024 114,375
NET BOOK VALUE
At 31 March 2024 7,625
At 31 March 2023 15,250

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 136,000 131,946 267,946
Additions - 2,415 2,415
At 31 March 2024 136,000 134,361 270,361
DEPRECIATION
At 1 April 2023 136,000 62,142 198,142
Charge for year - 17,863 17,863
At 31 March 2024 136,000 80,005 216,005
NET BOOK VALUE
At 31 March 2024 - 54,356 54,356
At 31 March 2023 - 69,804 69,804

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 21,482 17,142

Parron Ltd (Registered number: 05460404)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,204 9,953
Trade creditors 23,228 17,920
Taxation and social security 35,666 23,621
Other creditors 8,556 5,998
77,654 57,492

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,214 22,418

9. LEASING AGREEMENTS
As at 31 March 2024, the company had total commitments under operating leases over the remaining life of those leases of £422,050 (2023: £425,000). The respective minimum lease commitments taking in to account break clauses were £82,050 (2023: £85,000).