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Registered Number: 14059351
England and Wales

 

 

 


Report of the Directors and Unaudited Financial Statements

for the year ended 30 April 2024

for

PARASUBS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets
Intangible fixed assets 2 220,500   
Tangible fixed assets 3 44,469    6,160 
264,969    6,160 
Current assets
Debtors 4 6,852    6,852 
Cash at bank and in hand 3,445    4,964 
10,297    11,816 
Creditors: amount falling due within one year 5 (90,463)   (17,826)
Net current assets/(liabilities) (80,166)   (6,010)
 
Total assets less current liabilities 184,803    150 
Creditors: amount falling due after more than one year 6 (197,782)  
Net assets/(liabilities) (12,979)   150 
 

Capital and reserves
Called up share capital 100    100 
Profit and loss account 7 (13,079)   50 
Shareholders fund (12,979)   150 
 
For the year ended 30 April 2024 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 of the Companies Act 2006.
  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 in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors:


----------------------------------
Ryan Marc Joseph Callan
Director

Date approved: 24 March 2025
1
Statutory Information
PARASUBS LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 14059351, registration address 73 Richards Terrace, Cardiff, CF24 1RW, Wales.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2.

Intangible fixed assets

Cost or Valuation   Goodwill   Other   Total
    £   £   £
At 01 May 2023      
Additions   200,000    45,000    245,000 
At 30 April 2024   200,000    45,000    245,000 
Amortisation
At 01 May 2023      
Charge for year   20,000    4,500    24,500 
At 30 April 2024   20,000    4,500    24,500 
Net book values
At 30 April 2024   180,000    40,500    220,500 
At 30 April 2023      

3.

Tangible fixed assets

Cost or Valuation   Plant and machinery   Motor vehicles   Computer equipment   Total
    £   £   £   £
At 01 May 2023     7,700      7,700 
Additions   49,181      245    49,426 
At 30 April 2024   49,181    7,700    245    57,126 
Depreciation
At 01 May 2023     1,540      1,540 
Charge for year   9,836    1,232    49    11,117 
At 30 April 2024   9,836    2,772    49    12,657 
Net book values
Closing balance as at 30 April 2024   39,345    4,928    196    44,469 
Opening balance as at 01 May 2023     6,160      6,160 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Directors' current accounts   6,852 
Directors' current accounts - balance b/fwd 6,852   
6,852    6,852 
5.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued expenses 1,799    718 
Pension Payable 11,819    1,035 
Wages & salaries control account (7,741)   3,777 
Corporation tax 5,487    1,763 
Social security & other tax 56,747    6,498 
Vat 22,352    4,035 
90,463    17,826 
6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Loan from KG Asset Management 187,282   
Director's Loan Account - Daniel 10,500   
197,782   
7.

Profit and loss account

  2024
£
Balance at 01 May 2023 50 
Loss for the year (13,129)
Balance at 30 April 2024 (13,079)

8.

Average number of employees

Average number of employees during the year were 35 (2023: 8).
2