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REGISTERED NUMBER: SC694455 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PARSLEY720 LIMITED

PARSLEY720 LIMITED (REGISTERED NUMBER: SC694455)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARSLEY720 LIMITED

COMPANY INFORMATION
For The Year Ended 30 April 2024







DIRECTOR: J Chauvin





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC694455 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

PARSLEY720 LIMITED (REGISTERED NUMBER: SC694455)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 29,367 40,143

CURRENT ASSETS
Stocks 23,097 25,000
Debtors 5 2,900 1,450
Cash at bank and in hand 6,569 13,365
32,566 39,815
CREDITORS
Amounts falling due within one year 6 133,199 115,843
NET CURRENT LIABILITIES (100,633 ) (76,028 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(71,266

)

(35,885

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (71,366 ) (35,985 )
SHAREHOLDERS' FUNDS (71,266 ) (35,885 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 April 2025 and were signed by:




J Chauvin - Director


PARSLEY720 LIMITED (REGISTERED NUMBER: SC694455)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

Parsley720 Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold costs - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

PARSLEY720 LIMITED (REGISTERED NUMBER: SC694455)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Motor Computer
costs fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 14,810 17,267 25,000 1,079 58,156
DEPRECIATION
At 1 May 2023 5,924 5,569 6,250 270 18,013
Charge for year 2,962 2,925 4,687 202 10,776
At 30 April 2024 8,886 8,494 10,937 472 28,789
NET BOOK VALUE
At 30 April 2024 5,924 8,773 14,063 607 29,367
At 30 April 2023 8,886 11,698 18,750 809 40,143

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,900 1,450

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,780 838
Other creditors 125,419 115,005
133,199 115,843

7. GOING CONCERN

Although the company seems insolvent, the largest single creditor is that of the directors current account. The director has pledged to support the company and no demand for repayment shall be made until funds are available to do so.