Parents In Partnership (Pips) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 12196265 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2025

for

Parents In Partnership (Pips) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

L M Brakes

D R Sherriff

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

REGISTERED NUMBER:

12196265 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parents In Partnership (Pips) Ltd for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Parents In Partnership (Pips) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parents In Partnership (Pips) Ltd and state those matters that we have agreed to state to the Board of Directors of Parents In Partnership (Pips) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parents In Partnership (Pips) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Parents In Partnership (Pips) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Parents In Partnership (Pips) Ltd. You consider that Parents In Partnership (Pips) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parents In Partnership (Pips) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

23 December 2025

FIXED ASSETS

Tangible assets

4

2,730

239,321

Investment property

5

220,812

-

223,542

239,321

CURRENT ASSETS

Debtors

6

135,591

168,390

Cash at bank

7,366

15,824

142,957

184,214

CREDITORS

Amounts falling due within one year

7

92,191

129,985

NET CURRENT ASSETS

50,766

54,229

TOTAL ASSETS LESS CURRENT
LIABILITIES

274,308

293,550

CREDITORS

Amounts falling due after more than
one year

8

(195,740

)

(205,537

)

PROVISIONS FOR LIABILITIES

(683

)

(4,627

)

NET ASSETS

77,885

83,386

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

77,785

83,286

SHAREHOLDERS' FUNDS

77,885

83,386

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D R Sherriff - Director

1.	STATUTORY INFORMATION

Parents In Partnership (Pips) Ltd 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.

Freehold property

-

2% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% reducing balance

Computer equipment

-

33% on cost

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 Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

220,812

2,198

27,500

853

251,363

Additions

-

316

-

1,194

1,510

Disposals

-

(27,500

)

-

(27,500

)

Reclassification/transfer

(220,812

)

-

(220,812

)

At 31 March 2025

-

2,514

-

2,047

4,561

DEPRECIATION

At 1 April 2024

-

356

11,029

657

12,042

Charge for year

-

252

-

566

818

Eliminated on disposal

-

(11,029

)

-

(11,029

)

At 31 March 2025

-

608

-

1,223

1,831

NET BOOK VALUE

At 31 March 2025

-

1,906

-

824

2,730

At 31 March 2024

220,812

1,842

16,471

196

239,321

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

220,812

At 31 March 2025

220,812

NET BOOK VALUE

At 31 March 2025

220,812

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

41,298

91,564

Other debtors

93,411

76,599

Directors' current accounts

882

-

Prepayments and accrued income

-

227

135,591

168,390

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

9,989

8,453

Other loans

2,462

5,118

Trade creditors

-

26

Corporation tax

1,974

17,573

Social security and other taxes

5,636

3,207

VAT

4,281

11,753

Other creditors

16

56

Directors' current accounts

64,188

80,874

Accrued expenses

3,645

2,925

92,191

129,985

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans - 1-2 years

11,802

9,989

Bank loans - 2-5 years

44,713

42,224

Bank loans more 5 yr by instal

-

14,292

Other loans - 1-2 years

2,462

4,129

Other loans - 2-5 years

7,387

12,387

Other loans more 5yrs instal

129,376

122,516

195,740

205,537

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

14,292

Other loans more 5yrs instal

129,376

122,516

129,376

136,808

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Other loans

141,687

144,150

In 2022 Together Commercial Finance Limited registered a legal charge over the freehold property included within tangible assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

100

Ordinary

£1

100

11.	OTHER FINANCIAL COMMITMENTS

The company has total guarantees and commitments at the balance sheet date of £32,649 (2024 £24,798).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

31.3.25

31.3.24

£

L M Brakes

Balance outstanding at start of year

-

Amounts advanced

2,055

-

Amounts repaid

(1,173

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

882

-

The above loan is interest free and repayable on demand.

13.	RELATED PARTY DISCLOSURES

At the year end included in other debtors is £93,412 (2024 - £76,270) that is owed to the company by a company associated with the directors. The loan is interest free and repayable on demand.