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COMPANY REGISTRATION NUMBER: 672130
PARABOLA INVESTMENTS LIMITED
Filleted Unaudited Financial Statements
31 July 2024
PARABOLA INVESTMENTS LIMITED
Financial Statements
Year ended 31 July 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
PARABOLA INVESTMENTS LIMITED
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of PARABOLA INVESTMENTS LIMITED
Year ended 31 July 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 July 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED Chartered Accountants
Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ
22 August 2025
PARABOLA INVESTMENTS LIMITED
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
3,110,000
3,110,000
Current assets
Debtors
7
151,610
164,949
Cash at bank and in hand
99,788
126,229
---------
---------
251,398
291,178
Creditors: amounts falling due within one year
8
( 122,505)
( 127,900)
---------
---------
Net current assets
128,893
163,278
------------
------------
Total assets less current liabilities
3,238,893
3,273,278
Creditors: amounts falling due after more than one year
9
( 723,541)
( 754,354)
Provisions
Taxation including deferred tax
( 291,120)
( 291,120)
------------
------------
Net assets
2,224,232
2,227,804
------------
------------
PARABOLA INVESTMENTS LIMITED
Statement of Financial Position (continued)
31 July 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
2,214,232
2,217,804
------------
------------
Shareholders funds
2,224,232
2,227,804
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 August 2025 , and are signed on behalf of the board by:
P.G. Jones
Director
Company registration number: 672130
PARABOLA INVESTMENTS LIMITED
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71, Rodney Road, Cheltenham, Glos, GL50 1HT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For long term finance they rely on bank loans and loans provided by directors, shareholders and other family members disclosed in notes 8 and 9. In assessing going concern the directors have assumed that these loans will not be repaid for the foreseeable future and, on that basis, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover represents gross rents receivable and is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment properties are carried at their fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation on investment properties is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Investment properties
£
Cost
At 1 August 2023 and 31 July 2024
3,110,000
------------
Depreciation
At 1 August 2023 and 31 July 2024
------------
Carrying amount
At 31 July 2024
3,110,000
------------
At 31 July 2023
3,110,000
------------
The investment properties were valued as at 31 July 2024 at open market value, by the directors P.G. Jones and S.N. Jones, who were formerly chartered surveyors.
6. Investments
Unlisted investments
£
Cost
At 1 August 2023 and 31 July 2024
99,778
--------
Impairment
At 1 August 2023 and 31 July 2024
99,778
--------
Carrying amount
At 31 July 2024
--------
At 31 July 2023
--------
7. Debtors
2024
2023
£
£
Trade debtors
1,369
400
Other debtors
150,241
164,549
---------
---------
151,610
164,949
---------
---------
Other debtors include a loan to the director, D.P. Jones , of £15,000 (2023 - £15,000).
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
6,600
8,400
Trade creditors
2,551
346
Corporation tax
2,759
Other creditors
113,354
116,395
---------
---------
122,505
127,900
---------
---------
The bank loan is secured by way of legal charge over some of the investment properties. Other creditors include director loans from S.N. Jones of £71,160 (2023 - £74,660) and from P.G. Jones of £36,422 (2023 - £36,422). The directors have not charged the company interest on these loans.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
443,541
449,354
Other creditors
280,000
305,000
---------
---------
723,541
754,354
---------
---------
The bank loan is secured by way of legal charge over some of the investment properties. The bank loan includes £417,141 (2023 - £415,754) repayable by instalments after more than five years. Other creditors comprise loans from the directors, shareholders and other family members. Interest totalling £16,121 (2023 - £14,650) was paid on these loans.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
D.P. Jones
15,000
15,000
--------
--------
The company has not charged interest on the loan to the director.