Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30true2022-12-01falseRetail pharmacy1313trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04502686 2022-12-01 2023-11-30 04502686 2021-12-01 2022-11-30 04502686 2023-11-30 04502686 2022-11-30 04502686 c:Director1 2022-12-01 2023-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2023-11-30 04502686 d:Buildings d:ShortLeaseholdAssets 2022-11-30 04502686 d:FurnitureFittings 2022-12-01 2023-11-30 04502686 d:FurnitureFittings 2023-11-30 04502686 d:FurnitureFittings 2022-11-30 04502686 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04502686 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 04502686 d:Goodwill 2022-12-01 2023-11-30 04502686 d:Goodwill 2023-11-30 04502686 d:Goodwill 2022-11-30 04502686 d:CurrentFinancialInstruments 2023-11-30 04502686 d:CurrentFinancialInstruments 2022-11-30 04502686 d:Non-currentFinancialInstruments 2023-11-30 04502686 d:Non-currentFinancialInstruments 2022-11-30 04502686 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 04502686 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 04502686 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 04502686 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 04502686 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 04502686 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 04502686 d:ShareCapital 2023-11-30 04502686 d:ShareCapital 2022-11-30 04502686 d:RetainedEarningsAccumulatedLosses 2023-11-30 04502686 d:RetainedEarningsAccumulatedLosses 2022-11-30 04502686 c:FRS102 2022-12-01 2023-11-30 04502686 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04502686 c:FullAccounts 2022-12-01 2023-11-30 04502686 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04502686 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 04502686 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 04502686 2 2022-12-01 2023-11-30 04502686 d:Goodwill d:OwnedIntangibleAssets 2022-12-01 2023-11-30 04502686 e:PoundSterling 2022-12-01 2023-11-30 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 2023

 
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 2023

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 2023 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

23 August 2024
Page 1

 
A R PARMAR LIMITED
REGISTERED NUMBER: 04502686

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
16,500

Tangible assets
 5 
62,501
68,602

  
62,501
85,102

Current assets
  

Stocks
  
75,769
50,350

Debtors: amounts falling due within one year
 6 
440,395
260,510

Cash at bank and in hand
 7 
26,239
20,436

  
542,403
331,296

Creditors: amounts falling due within one year
 8 
(419,832)
(208,299)

Net current assets
  
 
 
122,571
 
 
122,997

Total assets less current liabilities
  
185,072
208,099

Creditors: amounts falling due after more than one year
 9 
(97,886)
(133,296)

Provisions for liabilities
  

Deferred tax
 11 
(31)
(31)

  
 
 
(31)
 
 
(31)

Net assets
  
87,155
74,772


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
87,055
74,672

  
87,155
74,772


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 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 August 2024.




P M Patel
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 2023

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 13).

Page 7

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 December 2022
330,000



At 30 November 2023

330,000



Amortisation


At 1 December 2022
313,500


Charge for the year on owned assets
16,500



At 30 November 2023

330,000



Net book value



At 30 November 2023
-



At 30 November 2022
16,500



Page 8

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 December 2022
72,413
137,898
210,311


Additions
813
-
813



At 30 November 2023

73,226
137,898
211,124



Depreciation


At 1 December 2022
13,318
128,391
141,709


Charge for the year on owned assets
4,881
2,033
6,914



At 30 November 2023

18,199
130,424
148,623



Net book value



At 30 November 2023
55,027
7,474
62,501



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


6.


Debtors

2023
2022
£
£


Trade debtors
164,802
51,794

Amounts owed by group undertakings
240,472
173,462

Other debtors
17,346
15,246

Prepayments and accrued income
17,775
20,008

440,395
260,510



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
26,239
20,436

26,239
20,436


Page 9

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
153,732
111,930

Corporation tax
22,843
16,110

Other taxation and social security
6,702
3,383

Other creditors
164,574
13,931

Accruals and deferred income
71,981
62,945

419,832
208,299



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
97,886
133,296

97,886
133,296


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 4 years (2022: 5 years).


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
97,886
133,296

97,886
133,296

97,886
133,296



11.


Deferred taxation

Page 10

 
A R PARMAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
11.Deferred taxation (continued)




2023


£






At beginning of year
(31)



At end of year
(31)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(31)
(31)

(31)
(31)


12.


Related party transactions

During the year the company loaned the parent company PMP Operations Ltd £67,010 (2022: £75,163). At the balance sheet date other debtors included £240,472 (2022: £173,462) as amounts owed by PMP Operations Ltd.


13.


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 11