Parasol Up Cocktails and Events Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06742226 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PARASOL UP COCKTAILS AND EVENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs N J Casey

REGISTERED OFFICE:

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

REGISTERED NUMBER:

06742226 (England and Wales)

ACCOUNTANTS:

Xeinadin Isle of Wight

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Tangible assets

4

6,763

9,017

CURRENT ASSETS

Stocks

5

250

481

Debtors

6

27,071

18,728

Cash at bank

3,457

23,797

30,778

43,006

CREDITORS

Amounts falling due within one year

7

8,036

21,997

NET CURRENT ASSETS

22,742

21,009

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,505

30,026

CREDITORS

Amounts falling due after more than one
year

8

(1,083

)

(3,683

)

PROVISIONS FOR LIABILITIES

9

(1,285

)

-

NET ASSETS

27,137

26,343

CAPITAL AND RESERVES

Called up share capital

10

1

Retained earnings

27,136

26,342

SHAREHOLDERS' FUNDS

27,137

26,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 1 October 2025 and were signed by:

Mrs N J Casey - Director

1.	STATUTORY INFORMATION

Parasol Up Cocktails and Events 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.

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.

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

-

25% on reducing balance and Straight line over 10 years

Fixtures and fittings

-

25% on reducing balance and Straight line over 10 years

Motor vehicles

-

25% on reducing balance and Straight line over 10 years

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

and 31 December 2024

24,540

2,416

17,292

44,248

DEPRECIATION

At 1 January 2024

17,824

2,147

15,260

35,231

Charge for year

1,679

67

508

2,254

At 31 December 2024

19,503

2,214

15,768

37,485

NET BOOK VALUE

At 31 December 2024

5,037

202

1,524

6,763

At 31 December 2023

6,716

269

2,032

9,017

5.

STOCKS

2024

2023

£

Stocks

250

481

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by associates

26,481

16,681

Other debtors

590

-

Directors' current accounts

-

2,047

27,071

18,728

Other debtors consists of £590 (2023: Nil) in relation to an unallocated PAYE credit on account with HMRC.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

2,600

Amounts owed to associates

515

-

Tax

1,499

366

Social security and other taxes

-

4,951

Other creditors

848

12,076

Directors' current accounts

6

-

Accrued expenses

2,568

2,004

8,036

21,997

Other creditors consists of £848 (2023: £12,076) in relation to net wages due to employees.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans - 1-2 years

1,083

2,600

Bank loans - 2-5 years

-

1,083

3,683

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

1,285

-

Deferred tax

£

Provided during year

1,285

Balance at 31 December 2024

1,285

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1

Ordinary

£1

1

11.	RELATED PARTY DISCLOSURES

Rockhopper Events Limited is a related company in which the director has a shareholding. At the year end there was an amount owed from Rockhopper Events Ltd of £26,481 (2023: £16,681) and this is included in debtors.

During the year, the company paid pitch fees to Rockhopper Events Limited totalling £6,200 (2023: £6,200). These transactions were undertaken at market value.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs N J Casey.