Company Registration No. 14737939 (England and Wales)
Parallel Partnerships Ltd
Unaudited accounts
for the year ended 31 March 2025
Parallel Partnerships Ltd
Unaudited accounts
Contents
Parallel Partnerships Ltd
Company Information
for the year ended 31 March 2025
Director
Keir Sebastian Segundo Shave
Company Number
14737939 (England and Wales)
Registered Office
471 Kirkstall Road
Leeds
LS4 2QD
ENGLAND
Accountants
Sleek Accounting Ltd
4th Floor
205 Regent Street
London
W1B 4HB
Parallel Partnerships Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
70,019
4,617
Cash at bank and in hand
282,522
288,955
Creditors: amounts falling due within one year
(125,913)
(239,394)
Net current assets
397,596
400,476
Net assets
467,615
405,093
Called up share capital
1
1
Profit and loss account
467,614
405,092
Shareholders' funds
467,615
405,093
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 December 2025 and were signed on its behalf by
Keir Sebastian Segundo Shave
Director
Company Registration No. 14737939
Parallel Partnerships Ltd
Notes to the Accounts
for the year ended 31 March 2025
Parallel Partnerships Ltd is a private company, limited by shares, registered in England and Wales, registration number 14737939. The registered office is 471 Kirkstall Road, Leeds, LS4 2QD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Parallel Partnerships Ltd
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
-
-
6,113
6,113
Additions
3,705
69,000
2,085
74,790
At 31 March 2025
3,705
69,000
8,198
80,903
At 1 April 2024
-
-
1,496
1,496
Charge for the year
740
5,218
3,430
9,388
At 31 March 2025
740
5,218
4,926
10,884
At 31 March 2025
2,965
63,782
3,272
70,019
At 31 March 2024
-
-
4,617
4,617
Amounts falling due within one year
Trade debtors
240,987
350,915
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
44,966
146,267
Loans from directors
15,446
152
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 34 (2024: 34).