REGISTERED NUMBER: 04365564 (England and Wales)

PARALLEL IMAGERY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

16,472

21,433

Investment property

5

510,000

510,000

526,472

531,433

CURRENT ASSETS

Debtors

6

14,249

13,678

Cash at bank

7,827

2,197

22,076

15,875

CREDITORS

Amounts falling due within one year

7

54,440

41,595

NET CURRENT LIABILITIES

(32,364

)

(25,720

)

TOTAL ASSETS LESS CURRENT LIABILITIES

494,108

505,713

PROVISIONS FOR LIABILITIES

2,583

3,490

NET ASSETS

491,525

502,223

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

491,523

502,221

491,525

502,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 15 December 2025 and were signed by:

C Baterip - Director

1.	STATUTORY INFORMATION

Parallel Imagery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04365564

Registered office:

7 Stoneman Way

Ramsey

Huntingdon

Cambridgeshire

PE26 1FH

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.

Camera equipment

-

33% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 year 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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

Camera

and

equipment

equipment

fittings

£

£

£

COST

At 1 April 2024

2,396

3,040

1,931

Additions

167

782

-

At 31 March 2025

2,563

3,822

1,931

DEPRECIATION

At 1 April 2024

1,095

2,284

1,278

Charge for year

484

507

131

At 31 March 2025

1,579

2,791

1,409

NET BOOK VALUE

At 31 March 2025

984

1,031

522

At 31 March 2024

1,301

756

653

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

32,917

8,113

48,397

Additions

-

233

1,182

At 31 March 2025

32,917

8,346

49,579

DEPRECIATION

At 1 April 2024

17,487

4,820

26,964

Charge for year

3,857

1,164

6,143

At 31 March 2025

21,344

5,984

33,107

NET BOOK VALUE

At 31 March 2025

11,573

2,362

16,472

At 31 March 2024

15,430

3,293

21,433

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

510,000

NET BOOK VALUE

At 31 March 2025

510,000

At 31 March 2024

510,000

24 Pindar Road Hoddesdon is the investment property.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,630

12,630

Other debtors

1,619

1,048

14,249

13,678

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

1,871

(689

)

Other creditors

52,569

42,284

54,440

41,595

8.	RELATED PARTY DISCLOSURES

During the year C D Baterip (Director) loaned money to the company. At the year end the amount due from the Company to the Director was £4,682. (2024: £1,267)

9.	ULTIMATE CONTROLLING PARTY

Director C D Baterip controls the company by virtue of owning 100% of the issued ordinary share capital.