Pari Passu Limited 04162126 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of management consultants. Digita Accounts Production Advanced 6.30.9574.0 true true 04162126 2023-01-01 2023-12-31 04162126 2023-12-31 04162126 core:CurrentFinancialInstruments 2023-12-31 04162126 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04162126 bus:SmallEntities 2023-01-01 2023-12-31 04162126 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04162126 bus:FilletedAccounts 2023-01-01 2023-12-31 04162126 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04162126 bus:RegisteredOffice 2023-01-01 2023-12-31 04162126 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 04162126 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04162126 bus:Agent1 2023-01-01 2023-12-31 04162126 core:FurnitureFittings 2023-01-01 2023-12-31 04162126 core:OfficeEquipment 2023-01-01 2023-12-31 04162126 1 2023-01-01 2023-12-31 04162126 countries:EnglandWales 2023-01-01 2023-12-31 04162126 2022-01-01 2022-12-31 04162126 2022-12-31 04162126 core:CurrentFinancialInstruments 2022-12-31 04162126 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04162126

Pari Passu Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Pari Passu Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Pari Passu Limited

Company Information

Director

Ms A Armstrong

Company secretary

Ms A Armstrong

Registered office

Tatton House
20 Tipping Street
Altrincham
Cheshire
WA14 2EZ

Accountants

Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pari Passu Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pari Passu Limited for the year ended 31 December 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Pari Passu Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pari Passu Limited and state those matters that we have agreed to state to the Board of Directors of Pari Passu Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pari Passu Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pari Passu Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pari Passu Limited. You consider that Pari Passu Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pari Passu 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 accounts.

......................................


Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

3 September 2024

 

Pari Passu Limited

(Registration number: 04162126)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

48,171

86,956

Cash at bank and in hand

 

81,005

40,871

 

129,176

127,827

Creditors: Amounts falling due within one year

5

(133,928)

(131,644)

Net liabilities

 

(4,752)

(3,817)

Capital and reserves

 

Called up share capital

51

51

Retained earnings

(4,803)

(3,868)

Shareholders' deficit

 

(4,752)

(3,817)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 September 2024
 

.........................................
Ms A Armstrong
Company secretary and director

 

Pari Passu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tatton House
20 Tipping Street
Altrincham
Cheshire
WA14 2EZ

These financial statements were authorised for issue by the director on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Pari Passu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Asset class

Depreciation method and rate

Fixtures and fittings

20% Reducing balance basis

Office equipment

33% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Pari Passu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 4).

4

Debtors

2023
£

2022
£

Trade debtors

31,436

26,486

Prepayments and accrued income

16,013

52,808

Other debtors

722

7,662

48,171

86,956

 

Pari Passu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

17,705

25,946

Amounts owed to group undertakings and undertakings in which the company has a participating interest

113,318

67,638

Taxation and social security

 

280

280

Accruals and deferred income

 

2,625

37,780

 

133,928

131,644

6

Parent and ultimate parent undertaking

The company's immediate parent is Pari Passu Group Limited, incorporated in England and Wales.