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Registered number: 05280950
PARSLOE CONSULTING LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Whitefield Tax Limited
Chartered Certified Accountants and Registered Auditor
Arnold House
2 New Road
Brading
Isle Of Wight
PO36 0DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05280950
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 500
Tangible Assets 5 442 590
442 1,090
CURRENT ASSETS
Debtors 6 116,366 33,238
Cash at bank and in hand 41,293 38,857
157,659 72,095
Creditors: Amounts Falling Due Within One Year 7 (48,745 ) (22,710 )
NET CURRENT ASSETS (LIABILITIES) 108,914 49,385
TOTAL ASSETS LESS CURRENT LIABILITIES 109,356 50,475
PROVISIONS FOR LIABILITIES
Deferred Taxation (227 ) (227 )
NET ASSETS 109,129 50,248
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 109,125 50,244
SHAREHOLDERS' FUNDS 109,129 50,248
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
On behalf of the board
Mr Christopher Parsloe
Director
19 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PARSLOE CONSULTING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05280950 . The registered office is 1A Debourne Close, Cowes, Isle Of Wight, PO31 7NW.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to a licensed trademark, which is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 25% reducing balance
2.6. 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:
2024 2023
Office and administration 3 3
3 3
Page 3
Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 15,000 880 15,880
As at 31 March 2024 15,000 880 15,880
Amortisation
As at 1 April 2023 14,500 880 15,380
Provided during the period 500 - 500
As at 31 March 2024 15,000 880 15,880
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 500 - 500
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 5,814 2,610 8,424
As at 31 March 2024 5,814 2,610 8,424
Depreciation
As at 1 April 2023 5,414 2,420 7,834
Provided during the period 100 48 148
As at 31 March 2024 5,514 2,468 7,982
Net Book Value
As at 31 March 2024 300 142 442
As at 1 April 2023 400 190 590
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 113,582 30,204
Prepayments and accrued income 2,784 2,884
Director's loan account - 150
116,366 33,238
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,722 3,722
Corporation tax 27,958 2,894
Other taxes and social security (Current liabilities - creditors < 1 year) 3,054 3,081
VAT 13,074 13,013
Director's loan account 937 -
48,745 22,710
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Christopher Parsloe 150 - 150 - -
The above loan is unsecured, interest free and repayable on demand.
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