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REGISTERED NUMBER: 13703483 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2023 TO 31 AUGUST 2024

FOR

PARALLEL PROPERTY SW6 LTD

PARALLEL PROPERTY SW6 LTD (REGISTERED NUMBER: 13703483)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARALLEL PROPERTY SW6 LTD

COMPANY INFORMATION
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 AUGUST 2024







DIRECTORS: Mr C Markou
Mrs G Markou





REGISTERED OFFICE: 8 Hurlingham Business Park
Sulivan Road
Fulham
London
SW6 3DU





REGISTERED NUMBER: 13703483 (England and Wales)





ACCOUNTANTS: TaxAgility Limited
34 Lower Richmond Road
Putney
London
SW15 1JP

PARALLEL PROPERTY SW6 LTD (REGISTERED NUMBER: 13703483)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.10.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,323,835 1,323,835

CURRENT ASSETS
Debtors 5 100 100
Cash at bank 327,203 22,887
327,303 22,987
CREDITORS
Amounts falling due within one year 6 (1,040,743 ) (721,941 )
NET CURRENT LIABILITIES (713,440 ) (698,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,395

624,881

CREDITORS
Amounts falling due after more than one
year

7

(644,635

)

(665,673

)
NET LIABILITIES (34,240 ) (40,792 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (34,340 ) (40,892 )
(34,240 ) (40,792 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

PARALLEL PROPERTY SW6 LTD (REGISTERED NUMBER: 13703483)

BALANCE SHEET - continued
31 AUGUST 2024


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 15 May 2025 and were signed on its behalf by:





Mr C Markou - Director


PARALLEL PROPERTY SW6 LTD (REGISTERED NUMBER: 13703483)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 AUGUST 2024

1. STATUTORY INFORMATION

Parallel Property SW6 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
Revenue 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.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Freehold
property
£   
COST
At 1 November 2023
and 31 August 2024 1,323,835
NET BOOK VALUE
At 31 August 2024 1,323,835
At 31 October 2023 1,323,835

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.10.23
£    £   
Amounts owed by group undertakings 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.10.23
£    £   
Bank loans and overdrafts 31,030 39,782
Amounts owed to group undertakings 1,009,545 682,159
Taxation and social security 168 -
1,040,743 721,941

PARALLEL PROPERTY SW6 LTD (REGISTERED NUMBER: 13703483)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.10.23
£    £   
Bank loans 644,635 665,673

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 644,635 665,673

8. RELATED PARTY DISCLOSURES

Parallel.net Limited is a limited company 100% held by the same shareholders as Parallel Property SW6 Ltd. A loan of £1,009,545 (2023 : 682,159) was advanced to Parallel.net Limited.

Parallel Holdings SW6 Ltd is 100% held by Parallel Property SW6 Ltd. During the year a loan of £100
(2023 : 100) was advanced from Parallel Property SW6 Ltd.

Both loans are unsecured, interest free and no repayment terms have been agreed.
.