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REGISTERED NUMBER: 02344308 (England and Wales)















Financial Statements

for the Year Ended 31 October 2024

for

PAROTEC SOLUTIONS LIMITED

PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

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


PAROTEC SOLUTIONS LIMITED

Company Information
for the Year Ended 31 October 2024







Directors: J A Betts
C Kinslow
J P Tunnicliffe





Registered office: Unit C1 Europa Trading Estate
Europaway Stoneclough Road
Radcliffe
Manchester
M26 1GG





Registered number: 02344308 (England and Wales)





Auditors: S & W Partners Audit Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 5 161,777 170,103

Current assets
Stocks 239,035 224,465
Debtors 6 473,208 347,416
Cash at bank and in hand 129,395 185,810
841,638 757,691
Creditors
Amounts falling due within one year 7 433,077 376,676
Net current assets 408,561 381,015
Total assets less current liabilities 570,338 551,118

Provisions for liabilities 40,450 32,322
Net assets 529,888 518,796

Capital and reserves
Called up share capital 9 10,000 10,000
Other reserves 97,286 97,286
Retained earnings 422,602 411,510
Shareholders' funds 529,888 518,796

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





J A Betts - Director


PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. Statutory information

Parotec Solutions 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including current resources, the company's budget and future cashflows in making their assessment. Based on these assessments and the commitment from the parent company to provide support, if required, the directors have concluded that it remains appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial Instruments.

(i) Financial assets

Basic financial assets, including trade debtors, other debtors and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade creditors, other creditors and group loans that are classified as debt,are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand.

PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


4. Employees and directors

The average number of employees during the year was 17 (2023 - 13 ) .

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 November 2023 362,070
Additions 19,367
At 31 October 2024 381,437
Depreciation
At 1 November 2023 191,967
Charge for year 27,693
At 31 October 2024 219,660
Net book value
At 31 October 2024 161,777
At 31 October 2023 170,103

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 422,288 308,300
Other debtors 50,920 39,116
473,208 347,416

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 162,150 133,272
Amounts owed to group undertakings 165,720 165,720
Taxation and social security 86,829 61,509
Other creditors 18,378 16,175
433,077 376,676

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 69,934 47,662
Between one and five years 109,406 81,283
179,340 128,945

PAROTEC SOLUTIONS LIMITED (REGISTERED NUMBER: 02344308)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary Class A £1.00 10,000 10,000

10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Angela Chorlton FCA (Senior Statutory Auditor)
for and on behalf of S & W Partners Audit Limited

11. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. Ultimate controlling party

By virtue of ownership of the entire share capital, Datamation System, Inc. is the immediate parent company. The company is registered in New Jersey and has a registered office address of 125 Louis St, South Hackensack, NJ 07606, United States.