ACCOUNTS - Final Accounts preparation

Registered number: 11919264

PARACHUTE BUSINESS MANAGEMENT LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025


PARACHUTE BUSINESS MANAGEMENT LTD

COMPANY INFORMATION

Directors	T A R Parkin
	K J Parkin


Registered number	11919264


Registered office	2nd Floor Connaught House
	1-3 Mount Street
	London
	W1K 3NB


Accountants	Sopher + Co LLP
	Chartered Accountants
	5 Elstree Gate
	Elstree Way
	Borehamwood
	Hertfordshire
	WD6 1JD


PARACHUTE BUSINESS MANAGEMENT LTD

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


PARACHUTE BUSINESS MANAGEMENT LTD REGISTERED NUMBER:11919264

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		2,281		1,075
Current assets
Debtors: amounts falling due within one year	5	4,810		6,721
Cash at bank and in hand		66,995		71,062
		71,805		77,783
Current liabilities
Creditors: amounts falling due within one year	6	(25,669)		(22,305)
Net current assets			46,136		55,478
Net assets			48,417		56,553

Capital and reserves
Called up share capital	100	100
Profit and loss account	48,317	56,453
	48,417	56,553

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

T A R Parkin

Director

Date: 2 October 2025

Page 1


PARACHUTE BUSINESS MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Parachute Business Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the Company continued to be bookkeeping services.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Turnover is
recognised at the point supply of services is provided.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Pensions

Defined contribution pension plan

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 2


PARACHUTE BUSINESS MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 3


PARACHUTE BUSINESS MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 April 2024	2,619
	Additions	2,481
	At 31 March 2025	5,100
	Depreciation
	At 1 April 2024	1,544
	Charge for the year on owned assets	1,275
	At 31 March 2025	2,819
	Net book value
	At 31 March 2025	2,281
	At 31 March 2024	1,075

Debtors

					2025	2024
					£	£


Trade debtors	4,097	5,905
Other debtors	36	139
Prepayments and accrued income	677	677
	4,810	6,721

Page 4


PARACHUTE BUSINESS MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	46	330
Corporation tax	15,375	14,152
Other taxation and social security	6,465	5,944
Other creditors	1,755	7
Accruals and deferred income	2,028	1,872
	25,669	22,305

Page 5