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Registration number: 13139212

Parabellum Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2024

 

Parabellum Solutions Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Parabellum Solutions Ltd

Company Information

Directors

Mr William Bill Briggs

Mrs Maria Gabriella Giuliani

Registered office

71-75 Shelton Street
London
WC2H 9JQ

Accountants

Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN

 

Parabellum Solutions Ltd

(Registration number: 13139212)
Statement of Financial Position as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

52,362

66,652

Current assets

 

Debtors

6

40,900

3,990

Cash at bank and in hand

 

18,940

11,516

 

59,840

15,506

Creditors: Amounts falling due within one year

7

(35,896)

(43,803)

Net current assets/(liabilities)

 

23,944

(28,297)

Total assets less current liabilities

 

76,306

38,355

Provisions for liabilities

(13,090)

(12,664)

Net assets

 

63,216

25,691

Capital and reserves

 

Called up share capital

8

110

110

Retained earnings

63,106

25,581

Shareholders' funds

 

63,216

25,691

For the financial year ending 5 April 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:

(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 

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.

 

Parabellum Solutions Ltd

(Registration number: 13139212)
Statement of Financial Position as at 5 April 2024

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Mr William Bill Briggs
Director

 

Parabellum Solutions Ltd

Statement of Changes in Equity for the Year Ended 5 April 2024

Share capital
£

Retained earnings
£

Total
£

At 6 April 2023

110

25,581

25,691

Profit for the year

-

46,525

46,525

Dividends

-

(9,000)

(9,000)

At 5 April 2024

110

63,106

63,216

Share capital
£

Retained earnings
£

Total
£

At 6 April 2022

110

15,982

16,092

Profit for the year

-

36,599

36,599

Dividends

-

(27,000)

(27,000)

At 5 April 2023

110

25,581

25,691

 

Parabellum Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 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:
71-75 Shelton Street
London
WC2H 9JQ
United Kingdom

These financial statements were authorised for issue by the Board on 31 January 2025.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Parabellum Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Tax

The tax expense for the period comprises current and 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.

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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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.

 

Parabellum Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

17,769

17,046

 

Parabellum Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 6 April 2023

1,254

8,307

78,184

87,745

Additions

-

3,479

-

3,479

At 5 April 2024

1,254

11,786

78,184

91,224

Depreciation

At 6 April 2023

556

1,643

18,894

21,093

Charge for the year

250

1,882

15,637

17,769

At 5 April 2024

806

3,525

34,531

38,862

Carrying amount

At 5 April 2024

448

8,261

43,653

52,362

At 5 April 2023

698

6,664

59,290

66,652

6

Debtors

Current

2024
£

2023
£

Trade debtors

40,800

-

Other debtors

100

3,990

 

40,900

3,990

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,749

20

Taxation and social security

28,123

6,089

Accruals and deferred income

2,200

2,200

Other creditors

3,824

35,494

35,896

43,803

 

Parabellum Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary B of £1 each

10

10

10

10

110

110

110

110

9

Parent and ultimate parent undertaking

The ultimate controlling party is W Briggs.