2023-01-01 2023-12-31 false No description of principal activity Capium Accounts Production 1.1 07285923 2023-01-01 2023-12-31 07285923 bus:FullAccounts 2023-01-01 2023-12-31 07285923 bus:FRS102 2023-01-01 2023-12-31 07285923 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07285923 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07285923 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07285923 2023-01-01 2023-12-31 07285923 2023-12-31 07285923 bus:RegisteredOffice 2023-01-01 2023-12-31 07285923 core:WithinOneYear 2023-12-31 07285923 core:AfterOneYear 2023-12-31 07285923 1 2023-01-01 2023-12-31 07285923 bus:Director1 2023-01-01 2023-12-31 07285923 bus:Director1 2023-12-31 07285923 bus:Director1 2022-01-01 2022-12-31 07285923 bus:Director2 2023-01-01 2023-12-31 07285923 bus:Director2 2023-12-31 07285923 bus:Director2 2022-01-01 2022-12-31 07285923 2022-01-01 07285923 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 07285923 2022-01-01 2022-12-31 07285923 2022-12-31 07285923 core:WithinOneYear 2022-12-31 07285923 core:AfterOneYear 2022-12-31 07285923 bus:EntityAccountantsOrAuditors 2022-01-01 2022-12-31 07285923 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07285923 bus:OrdinaryShareClass1 2023-12-31 07285923 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 07285923 bus:OrdinaryShareClass1 2022-12-31 07285923 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 07285923 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 07285923 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 07285923 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 07285923 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 07285923 core:Non-currentFinancialInstruments 2023-12-31 07285923 core:Non-currentFinancialInstruments 2022-12-31 07285923 core:ShareCapital 2023-12-31 07285923 core:ShareCapital 2022-12-31 07285923 core:RetainedEarningsAccumulatedLosses 2023-12-31 07285923 core:RetainedEarningsAccumulatedLosses 2022-12-31 07285923 dpl:Item1 2023-01-01 07285923 dpl:Item1 2023-12-31 07285923 dpl:Item1 2022-01-01 07285923 dpl:Item1 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 07285923
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

PARALLEL CONTEMPORARY ART LIMITED

Directors JDN Ciclitira
MS Papi
Registered Number 07285923
Registered Office 3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
Accountants Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
1
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Parallel Contemporary Art Limited for the year ended 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Parallel Contemporary Art Limited, as a body, in accordance with the terms of our engagement letter dated 28 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of Parallel Contemporary Art Limited and state those matters that we have agreed to state to the Board ofs of Parallel Contemporary Art Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parallel Contemporary Art Limited and its members as a body for our work or for this report.

It is your duty to ensure that Parallel Contemporary Art 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 Parallel Contemporary Art Limited. You consider that Parallel Contemporary Art 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 Parallel Contemporary Art 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.



....................................................
Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
28 January 2025
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments   100 
  100 
Current assets      
Debtors: amounts falling due within one year 3 193,466    93,757 
Cash at bank and in hand   11 
193,466    93,768 
Creditors: amount falling due within one year 4 (2,568,707)   (2,326,792)
Net current assets (2,375,241)   (2,233,024)
 
Total assets less current liabilities (2,375,241)   (2,232,924)
Creditors: amount falling due after more than one year 5 (26,981)   (27,113)
Net assets (2,402,222)   (2,260,037)
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account (2,402,322)   (2,260,137)
Shareholders' funds (2,402,222)   (2,260,037)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 January 2025 and were signed on its behalf by:


-------------------------------
JDN Ciclitira
Director
3
General Information
Parallel Contemporary Art Limited is a private company, limited by shares, registered in England and Wales, registration number 07285923, registration address 3 Park Court, Pyrford Road, West Byfleet, Surrey, KT14 6SD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 118,197    118,197 
Other Debtors 14,239    27,018 
Amount owed by Start (2013) Ltd 47,173    (51,458)
Amounts owed by Startnet (Global) 13,857   
193,466    93,757 

4.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 97,501    90,656 
Corporation Tax 15,297    15,297 
PAYE & Social Security 2,079    2,079 
Accrued Expenses 165,720    165,720 
Other Creditors 44,141    137,233 
Directors' Current Accounts 2,243,969    1,915,807 
2,568,707    2,326,792 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 26,981    27,113 
26,981    27,113 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

4