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REGISTERED NUMBER: 09064893 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

PARCVU SYSTEMS LTD

PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PARCVU SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Bryan Mullarkey
Andrew David Cressey
Mark Evans
John Aled Hughes
Christine Mullarkey
David Michael Prall
James Edward Thomas Wilbraham





REGISTERED OFFICE: Bretton Hall Farm
Chester Road
Bretton
Chester
CH4 0DF





REGISTERED NUMBER: 09064893 (England and Wales)





ACCOUNTANTS: Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD

PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 557,829 596,003
Tangible assets 5 21,371 24,630
579,200 620,633

CURRENT ASSETS
Debtors 6 1,615,953 695,730
Cash at bank 288,477 582,592
1,904,430 1,278,322
CREDITORS
Amounts falling due within one year 7 937,726 654,580
NET CURRENT ASSETS 966,704 623,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,545,904

1,244,375

PROVISIONS FOR LIABILITIES 105,940 105,940
NET ASSETS 1,439,964 1,138,435

PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

BALANCE SHEET - continued
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,439,962 1,138,433
SHAREHOLDERS' FUNDS 1,439,964 1,138,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





David Michael Prall - Director


PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

ParcVu Systems Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill is in respect of the acquisition of a business and is amortised over its useful life.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible fixed assets are stated at historic cost less accumulated depreciation.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SOFTWARE DEVELOPMENT COSTS
Costs incurred in the development of software products are capitalised and amortised to correspond to the relevant revenues generated. They are amortised at the rate of 25% on cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 24 ).

4. INTANGIBLE FIXED ASSETS
Software
Goodwill costs Totals
£    £    £   
COST
At 1 June 2023 950,000 1,599,947 2,549,947
Additions - 305,210 305,210
At 31 May 2024 950,000 1,905,157 2,855,157
AMORTISATION
At 1 June 2023 760,000 1,193,944 1,953,944
Amortisation for year 95,000 248,384 343,384
At 31 May 2024 855,000 1,442,328 2,297,328
NET BOOK VALUE
At 31 May 2024 95,000 462,829 557,829
At 31 May 2023 190,000 406,003 596,003

PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 121,439
Additions 7,526
At 31 May 2024 128,965
DEPRECIATION
At 1 June 2023 96,809
Charge for year 10,785
At 31 May 2024 107,594
NET BOOK VALUE
At 31 May 2024 21,371
At 31 May 2023 24,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 327,618 162,739
Other debtors 1,288,335 532,991
1,615,953 695,730

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 27,140 38,507
Taxation and social security 243,084 194,604
Other creditors 667,502 421,469
937,726 654,580

PARCVU SYSTEMS LTD (REGISTERED NUMBER: 09064893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Christine Mullarkey
Balance outstanding at start of year - (37,000 )
Amounts advanced - 255
Amounts repaid - 36,745
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Bryan Mullarkey
Balance outstanding at start of year - (37,000 )
Amounts advanced - 300
Amounts repaid - 36,700
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

9. RELATED PARTY DISCLOSURES

During the year consultancy fees of £7200 were payable to Merea Limited, which is controlled by Mark Evans, a director of the Company.

10. ULTIMATE CONTROLLING PARTY

The Company is controlled by the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PARCVU SYSTEMS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ParcVu Systems Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ParcVu Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ParcVu Systems Ltd and state those matters that we have agreed to state to the Board of Directors of ParcVu Systems Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ParcVu Systems Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ParcVu Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ParcVu Systems Ltd. You consider that ParcVu Systems Ltd 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 financial statements of ParcVu Systems Ltd. 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 financial statements.






Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD


27 February 2025