1 false false false false false false false false false false true false false false false true true No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,422 25,422 36,037 36,037 xbrli:pure xbrli:shares iso4217:GBP 07694371 2023-04-01 2024-03-31 07694371 2024-03-31 07694371 2023-03-31 07694371 2022-04-01 2023-03-31 07694371 2023-03-31 07694371 2022-03-31 07694371 core:NetGoodwill 2023-04-01 2024-03-31 07694371 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07694371 bus:Director1 2023-04-01 2024-03-31 07694371 core:NetGoodwill 2024-03-31 07694371 core:FurnitureFittings 2024-03-31 07694371 core:WithinOneYear 2024-03-31 07694371 core:WithinOneYear 2023-03-31 07694371 core:ShareCapital 2024-03-31 07694371 core:ShareCapital 2023-03-31 07694371 core:RetainedEarningsAccumulatedLosses 2024-03-31 07694371 core:RetainedEarningsAccumulatedLosses 2023-03-31 07694371 bus:SmallEntities 2023-04-01 2024-03-31 07694371 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07694371 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07694371 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07694371 bus:FullAccounts 2023-04-01 2024-03-31 07694371 bus:OrdinaryShareClass1 2024-03-31 07694371 bus:OrdinaryShareClass1 2023-03-31 07694371 core:FurnitureFittings 2023-04-01 2024-03-31 07694371 core:MotorVehicles 2023-04-01 2024-03-31 07694371 core:Associate1 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07694371
Paroh Ltd
Filleted Unaudited Financial Statements
31 March 2024
Paroh Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Debtors
8
2,227,206
2,303,180
Cash at bank and in hand
162,849
100,689
---------------
---------------
2,390,055
2,403,869
Creditors: amounts falling due within one year
9
995
4,943
---------------
---------------
Net current assets
2,389,060
2,398,926
---------------
---------------
Total assets less current liabilities
2,389,060
2,398,926
---------------
---------------
Net assets
2,389,060
2,398,926
---------------
---------------
Paroh Ltd
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
2,388,960
2,398,826
---------------
---------------
Shareholders funds
2,389,060
2,398,926
---------------
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 January 2025 , and are signed on behalf of the board by:
Mr Sarbjit Singh Sohal
Director
Company registration number: 07694371
Paroh Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Direct 2 Industrial Park, Roway Lane, Oldbury, West Midlands, B69 3ES, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
(a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Fully amortised
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
over 3 years
Motor vehicles
-
over 5 years
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tax on loss
Reconciliation of tax income
The tax assessed on the loss on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
2024
2023
£
£
Loss on ordinary activities before taxation
( 9,866)
( 108,210)
--------
-----------
Loss on ordinary activities by rate of tax
( 1,875)
( 20,560)
Effect of expenses not deductible for tax purposes
1,724
Effect of capital allowances and depreciation
( 5,622)
( 6,727)
Utilisation of tax losses
( 25,563)
Unused tax losses
33,060
25,563
----------
-----------
Tax on loss
----------
-----------
6. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
25,422
----------
Amortisation
At 1 April 2023 and 31 March 2024
25,422
----------
Carrying amount
At 31 March 2024
----------
At 31 March 2023
----------
7. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2023 and 31 March 2024
36,037
----------
Depreciation
At 1 April 2023 and 31 March 2024
36,037
----------
Carrying amount
At 31 March 2024
----------
At 31 March 2023
----------
8. Debtors
2024
2023
£
£
Other debtors
2,227,206
2,303,180
---------------
---------------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
295
293
Accruals
700
4,650
-----
--------
995
4,943
-----
--------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
-----
-----
-----
-----
11. Related party transactions
The balance due to a related company with the same directors at the end of the current year was £2,200,000 (2023:£1,750,439).