Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 11360958 Mr Christopher Kosmider iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11360958 2022-06-30 11360958 2023-06-30 11360958 2022-07-01 2023-06-30 11360958 frs-core:CurrentFinancialInstruments 2023-06-30 11360958 frs-core:Non-currentFinancialInstruments 2023-06-30 11360958 frs-core:ShareCapital 2023-06-30 11360958 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 11360958 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11360958 frs-bus:AbridgedAccounts 2022-07-01 2023-06-30 11360958 frs-bus:SmallEntities 2022-07-01 2023-06-30 11360958 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11360958 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 11360958 frs-bus:Director1 2022-07-01 2023-06-30 11360958 frs-core:CurrentFinancialInstruments 1 2023-06-30 11360958 frs-countries:EnglandWales 2022-07-01 2023-06-30 11360958 2021-06-30 11360958 2022-06-30 11360958 2021-07-01 2022-06-30 11360958 frs-core:CurrentFinancialInstruments 2022-06-30 11360958 frs-core:Non-currentFinancialInstruments 2022-06-30 11360958 frs-core:ShareCapital 2022-06-30 11360958 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30 11360958 frs-core:CurrentFinancialInstruments 1 2022-06-30
Registered number: 11360958
Parneus Limited
ABRIDGED Financial Statements
For The Year Ended 30 June 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11360958
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 40,924 181,280
Cash at bank and in hand 60 197
40,984 181,477
Creditors: Amounts Falling Due Within One Year 4 (49,241 ) (128,337 )
NET CURRENT ASSETS (LIABILITIES) (8,257 ) 53,140
TOTAL ASSETS LESS CURRENT LIABILITIES (8,257 ) 53,140
Creditors: Amounts Falling Due After More Than One Year 5 - (56,246 )
NET LIABILITIES (8,257 ) (3,106 )
CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Profit and Loss Account (18,257 ) (13,106 )
SHAREHOLDERS' FUNDS (8,257) (3,106)
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For the year ending 30 June 2023 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 30 June 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Christopher Kosmider
Director
06/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Parneus Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11360958 . The registered office is 1st Floor, Cobham Msa, Downside, Cobham, KT11 3DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
1 2
4. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 683 1,027
Corporation tax - 63
Other creditors 7,466 -
Other loans 41,092 125,162
Accruals and deferred income - 2,085
49,241 128,337
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5. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 2-5yrs (Long term liabilities - creditors > 1 year) - 56,246
- 56,246
Under a Loan Restructuring Agreement date 16 July 2020, it was agreed by the Lender, Astute Capital Advisors Limited, that any and all amounts outstanding and unpaid by Parneus Limited under the Loan Agreement or any Security Document as at 31 December 2023 will be waived as at that date and the Security Documents discharged accordingly.
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
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