Pareece Ltd 13855367 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is care home. Digita Accounts Production Advanced 6.30.9574.0 true true 13855367 2023-02-01 2024-01-31 13855367 2024-01-31 13855367 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-01-31 13855367 core:RetainedEarningsAccumulatedLosses 2024-01-31 13855367 core:ShareCapital 2024-01-31 13855367 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13855367 core:Non-currentFinancialInstruments 2024-01-31 13855367 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 13855367 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 13855367 core:OfficeEquipment 2024-01-31 13855367 bus:SmallEntities 2023-02-01 2024-01-31 13855367 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13855367 bus:FilletedAccounts 2023-02-01 2024-01-31 13855367 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13855367 bus:RegisteredOffice 2023-02-01 2024-01-31 13855367 bus:Director1 2023-02-01 2024-01-31 13855367 bus:Director2 2023-02-01 2024-01-31 13855367 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-01 2024-01-31 13855367 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13855367 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13855367 core:OfficeEquipment 2023-02-01 2024-01-31 13855367 countries:EnglandWales 2023-02-01 2024-01-31 13855367 2023-01-31 13855367 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 13855367 core:OfficeEquipment 2023-01-31 13855367 2022-01-18 2023-01-31 13855367 2023-01-31 13855367 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-31 13855367 core:RetainedEarningsAccumulatedLosses 2023-01-31 13855367 core:ShareCapital 2023-01-31 13855367 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13855367 core:Non-currentFinancialInstruments 2023-01-31 13855367 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 13855367 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 13855367 core:OfficeEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13855367

Pareece Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Pareece Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pareece Ltd

Company Information

Directors

Mr Jayesh Odedra

Mrs Minal Odedra

Registered office

Sienna
Norwich Avenue
Camberley
Surrey
GU15 2JX

 

Pareece Ltd

(Registration number: 13855367)
Balance Sheet as at 31 January 2024

Note

2024

2023

   

£

£

£

£

Fixed Assets

   

 

Tangible Assets

4

 

651,125

 

651,687

Current assets

   

 

Cash at bank and in hand

 

199,741

 

133,674

 

Creditors: Amounts falling due within one year

6

(657,499)

 

(672,739)

 

Net current liabilities

   

(457,758)

 

(539,065)

Total assets less current liabilities

   

193,367

 

112,622

Creditors: Amounts falling due after more than one year

6

 

(150,000)

 

(150,000)

Net assets/(liabilities)

   

43,367

 

(37,378)

Capital and Reserves

   

 

Called up share capital

7

100

 

100

 

Retained Earnings

43,267

 

(37,478)

 

Shareholders' funds/(deficit)

   

43,367

 

(37,378)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 20 October 2024 and signed on its behalf by:
 

.........................................
Mrs Minal Odedra
Director

   
     
 

Pareece Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Sienna
Norwich Avenue
Camberley
Surrey
GU15 2JX
United Kingdom

These financial statements were authorised for issue by the Board on 20 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current 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.

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

 

Pareece Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Pareece Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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 directors) during the year, was 22 (2023 - 23).

4

Tangible Assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

650,000

2,250

652,250

At 31 January 2024

650,000

2,250

652,250

Depreciation

At 1 February 2023

-

563

563

Charge for the year

-

562

562

At 31 January 2024

-

1,125

1,125

Carrying amount

At 31 January 2024

650,000

1,125

651,125

At 31 January 2023

650,000

1,687

651,687

Included within the net book value of land and buildings above is £650,000 (2023 - £650,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

 

-

-

 

Pareece Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

1,212

10,249

Taxation and social security

28,795

7,711

Accruals and deferred income

48,874

77,659

Other creditors

578,618

577,120

657,499

672,739

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

150,000

150,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

150,000

150,000