Par Process Analysis Reagents and Chemicals Limited

(Registration number: 11122880)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	44	311
Tangible assets	5	559	560
		603	871
Current assets
Debtors	6	13,630	39,103
Cash at bank and in hand		584	45,299
		14,214	84,402
Creditors: Amounts falling due within one year	7	(391,511)	(382,942)
Net current liabilities		(377,297)	(298,540)
Net liabilities		(376,694)	(297,669)
Capital and reserves
Called up share capital	8	500	500
Profit and loss account		(377,194)	(298,169)
Total equity		(376,694)	(297,669)

Par Process Analysis Reagents and Chemicals Limited

(Registration number: 11122880)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 September 2025
 

......................................... Meltem Alptekin Director

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Statutory information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB
United Kingdom

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. At the Balance Sheet date the company has an excess of liabilities over assets. Liabilities include interest free loans from the directors of £327,274 (2023: £341,394). The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by
section 398 of the Companies Act 2006 and has not prepared group accounts.

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Office equipment	Over 4 years on a straight-line basis

Intangible fixed assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Website development	Over 3 years on a straight-line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 4).

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible fixed assets

	Website development  £
Cost
At 1 January 2024	800
At 31 December 2024	800
Amortisation
At 1 January 2024	489
Amortisation charge	267
At 31 December 2024	756
Carrying amount
At 31 December 2024	44
At 31 December 2023	311

5	Tangible fixed assets

	Office equipment  £
Cost
At 1 January 2024	1,682
Additions	349
At 31 December 2024	2,031
Depreciation
At 1 January 2024	1,122
Charge for the year	350
At 31 December 2024	1,472
Carrying amount
At 31 December 2024	559
At 31 December 2023	560

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Debtors: amounts falling due within one year

	Note	2024 £	2023 £
Trade debtors		-	36,034
Amounts owed by group undertakings		7,834	-
VAT		5,796	2,019
Prepayments and accrued income		-	1,050
		13,630	39,103

7

Creditors

	2024 £	2023 £
Trade creditors	480	3,991
Amounts owed to group undertakings	39,356	29,891
Taxation and social security	1,057	2,460
Other creditors	20,444	2,306
Accruals and deferred income	2,900	2,900
Dierctor's loan account	327,274	341,394
	391,511	382,942

Current loans and borrowings

	2024 £	2023 £
Directors' loan accounts	327,274	341,394

The director's loan is interest free and repayable on demand.

Par Process Analysis Reagents and Chemicals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £10 each	50	500	50	500

9	Parent and ultimate parent undertaking

The company's immediate parent is M.C.S. Olcu Kontrol, incorporated in Turkey.
 

The address of M.C.S Olcu Kontrol is:
Acıbadem Mah. Berk Sk. Alibey Apt. No.10/12
Uskudar 34660
Istanbul
Turkey

FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.