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REGISTERED NUMBER: 02757300 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

PARALOGIC LIMITED

PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

PARALOGIC LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: Mr T Woods





REGISTERED OFFICE: 1d Haddenham Business Park
Thame Road
Haddenham
Buckinghamshire
HP17 8LJ





REGISTERED NUMBER: 02757300 (England and Wales)





ACCOUNTANTS: Acumen Accountants & Advisors Limited
Argent House
Argent Court
Hook Rise South
Surbiton
KT6 7LD

PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,093 20,594

CURRENT ASSETS
Stocks 5 116,067 202,949
Debtors 6 144,297 298,396
Cash at bank 43,377 161,726
303,741 663,071
CREDITORS
Amounts falling due within one year 7 371,194 545,733
NET CURRENT (LIABILITIES)/ASSETS (67,453 ) 117,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

(53,360

)

137,932

PROVISIONS FOR LIABILITIES 8 - 4,889
NET (LIABILITIES)/ASSETS (53,360 ) 133,043

CAPITAL AND RESERVES
Called up share capital 153,442 153,442
Capital redemption reserve 100 100
Retained earnings (206,902 ) (20,499 )
(53,360 ) 133,043

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 21 July 2025 and were signed by:





Mr T Woods - Director


PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Paralogic Limited 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.

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


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.

Going concern
The financial statements have been prepared on a going concern basis as the company has continued to trade in the post year-end period to 31 January 2025 at which point the trade and assets were hived up to the parent company, Futera Limited (formerly known as United Business Group Limited).

The director acknowledges the negative balance sheet position at the year-end and has confirmed the company was supported by it's parent company to continue trading until such point it's trade and assets were hived up.

The company will continue as a dormant company post 31 January 2025 until it is to be wound up.

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.
Long leasehold - 20% on cost
Plant and machinery - 30% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 30% on cost
Equipment - 30% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade & other debtors, cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity.

Basic financial liabilities
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.


PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2023 7,308 122,389 147,273
Additions - - 8,893
Disposals (7,308 ) (109,903 ) (104,120 )
At 31 October 2024 - 12,486 52,046
DEPRECIATION
At 1 November 2023 4,689 115,846 146,172
Charge for year - 4,197 3,007
Eliminated on disposal (4,689 ) (109,579 ) (104,120 )
At 31 October 2024 - 10,464 45,059
NET BOOK VALUE
At 31 October 2024 - 2,022 6,987
At 31 October 2023 2,619 6,543 1,101

PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Equipment Totals
£    £    £   
COST
At 1 November 2023 30,304 53,905 361,179
Additions - - 8,893
Disposals (17,304 ) (43,390 ) (282,025 )
At 31 October 2024 13,000 10,515 88,047
DEPRECIATION
At 1 November 2023 21,529 52,349 340,585
Charge for year 3,900 1,125 12,229
Eliminated on disposal (17,304 ) (43,168 ) (278,860 )
At 31 October 2024 8,125 10,306 73,954
NET BOOK VALUE
At 31 October 2024 4,875 209 14,093
At 31 October 2023 8,775 1,556 20,594

5. STOCKS
2024 2023
£    £   
Stocks 116,067 202,949

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,204 244,060
Other debtors 14,745 15,744
Tax 5,892 5,892
Prepayments 37,456 32,700
144,297 298,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 45,589 96,065
Social security and other taxes 10,368 13,248
VAT 33,976 57,470
Other creditors 4,880 16,927
Deferred income 266,915 311,714
Accrued expenses 9,466 50,309
371,194 545,733

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 4,889

PARALOGIC LIMITED (REGISTERED NUMBER: 02757300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 4,889
DTA on taxable losses c/fwd (224,161 )
Utilised 219,272
Balance at 31 October 2024 -

9. POST BALANCE SHEET EVENTS

As at January 2025, Paralogic Ltd underwent a restructure and was hived up into the parent company.

10. ULTIMATE CONTROLLING PARENT

The ultimate controlling parties T Woods, C Cornhill and K Smith-Langridge by virtue of their trusteeship in the ultimate parent entity.

The immediate parent company is Futera Limited (previously known as United Business Group Limited) by virtue of it's ownership of 100% of the issued share capital of Paralogic Limited.

The ultimate parent entity is Futera EOT Limited, an Employee Ownership Trust, by virtue of it's ownership of 100% of the issued share capital in Futera Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PARALOGIC LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 Paralogic Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Paralogic Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paralogic Limited and state those matters that we have agreed to state to the director of Paralogic Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Paralogic Limited 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 loss of Paralogic Limited. You consider that Paralogic Limited 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 Paralogic Limited. 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.






Acumen Accountants & Advisors Limited
Argent House
Argent Court
Hook Rise South
Surbiton
KT6 7LD


21 July 2025