REGISTERED NUMBER: 09064893 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JUNE 2024 TO 31 DECEMBER 2024

FOR

PARCVU SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Cressey

J A Hughes

D M Prall

J E T Wilbraham

D Noel

C Van Rhee

REGISTERED OFFICE:

Bretton Hall Farm

Chester Road

Bretton

Chester

CH4 0DF

REGISTERED NUMBER:

09064893 (England and Wales)

INDEPENDENT AUDITORS:

Malthouse & Company Chartered Accountants

and Statutory Auditors

America House, Rumford Court

Rumford Place

Liverpool

Merseyside

L3 9DD

FIXED ASSETS

Intangible assets

4

385,517

557,829

Tangible assets

5

16,336

21,371

401,853

579,200

CURRENT ASSETS

Debtors

6

264,448

1,535,216

Accrued income

86,563

80,737

Cash at bank

233,686

288,477

584,697

1,904,430

CREDITORS

Amounts falling due within one year

7

827,976

937,726

NET CURRENT (LIABILITIES)/ASSETS

(243,279

)

966,704

TOTAL ASSETS LESS CURRENT LIABILITIES

158,574

1,545,904

CREDITORS

Amounts falling due after more than one year

8

(2,481

)

-

PROVISIONS FOR LIABILITIES

(98,609

)

(105,940

)

NET ASSETS

57,484

1,439,964

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

57,482

1,439,962

SHAREHOLDERS' FUNDS

57,484

1,439,964

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 9 September 2025 and were signed on its behalf by:

D M Prall - Director

1.	STATUTORY INFORMATION

ParcVu Systems 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.

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill is in respect of the acquisition of a business and is amortised over its useful life.

SOFTWARE DEVELOPMENT

Costs incurred in the development of software products are capitalised and amortised to correspond to the relevant revenues generated. They are amortised at the rate of 25% on cost.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

between 20% and 33% on cost

Tangible fixed assets are stated at historic cost less accumulated depreciation.

TAXATION

Taxation for the period 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 period 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 period was 24 (2024 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Software

Goodwill

development

Totals

£

£

£

COST

At 1 June 2024

and 31 December 2024

950,000

1,905,157

2,855,157

AMORTISATION

At 1 June 2024

855,000

1,442,328

2,297,328

Amortisation for period

55,417

116,895

172,312

At 31 December 2024

910,417

1,559,223

2,469,640

NET BOOK VALUE

At 31 December 2024

39,583

345,934

385,517

At 31 May 2024

95,000

462,829

557,829

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2024

47,822

20,408

60,735

128,965

Additions

198

-

1,759

1,957

Disposals

(2,155

)

-

(15,611

)

(17,766

)

At 31 December 2024

45,865

20,408

46,883

113,156

DEPRECIATION

At 1 June 2024

45,119

19,727

42,748

107,594

Charge for period

910

681

3,027

4,618

Eliminated on disposal

(2,155

)

-

(13,237

)

(15,392

)

At 31 December 2024

43,874

20,408

32,538

96,820

NET BOOK VALUE

At 31 December 2024

1,991

-

14,345

16,336

At 31 May 2024

2,703

681

17,987

21,371

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.5.24

£

£

Trade debtors

229,886

327,618

Other debtors

34,562

1,207,598

264,448

1,535,216

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.5.24

£

£

Trade creditors

23,566

27,140

Taxation and social security

247,380

243,084

Other creditors

557,030

667,502

827,976

937,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.5.24

£

£

Other creditors

2,481

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.5.24

£

£

Within one year

1,333

1,333

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Guy Playfer FCA (Senior Statutory Auditor)

for and on behalf of Malthouse & Company Chartered Accountants

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.

During the period, the company's parent company was acquired by Booking Invest B.V.

Accordingly a large dividend was declared to clear the intercompany debtor owed by ParcVu Holdings Limited as part of a group restructure.

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13.	ULTIMATE CONTROLLING PARTY

The parent company is ParcVu Holdings Limited, a company incorporated in the United Kingdom. The ultimate parent company is Booking Invest B.V., a company incorporated in the Netherlands.

Copies of ParcVu Holdings Limited accounts may be obtained from Companies House, Cardiff.

Copies of Booking Invest B.V. may be obtained from the Netherlands Chamber of Commerce.

The directors do not consider that there is any one individual or group of people who are the controlling party of the company.