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Registration number: 13370389

Asian Parsnip Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

Asian Parsnip Ltd

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 8

Asian Parsnip Ltd

(Registration number: 13370389)
Balance Sheet as at 31 December 2025

| Note | 31 December 2025 £ | 31 December 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 10,015 | 327
Tangible assets | 5 | - | 207
|  | 10,015 | 534
Current assets |  |  |
Stocks | 6 | 156,664 | 143,919
Debtors | 7 | 161,288 | 266,912
Cash at bank and in hand |  | 46,762 | 173,083
|  | 364,714 | 583,914
Creditors: Amounts falling due within one year | 8 | (347,844) | (302,966)
Net current assets |  | 16,870 | 280,948
Net assets |  | 26,885 | 281,482
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 26,785 | 281,382
Shareholders' funds |  | 26,885 | 281,482

Asian Parsnip Ltd

(Registration number: 13370389)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 February 2026 and signed on its behalf by:

Mr V S Patel Director |  |

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
Avon
BS1 6NL

These financial statements were authorised for issue by the Board on 16 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% straight line method

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Patents, trademarks and licences | 10% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The company has granted share options to certain employees. The options vest only upon a future exit event, such as the sale of the company or a listing. As the vesting is dependent solely on this exit event, which is not considered probable at the reporting date, no share based payment charge has been recognised in the profit and loss account.
The options will only vest if and when an exit event occurs. If an exit becomes probable in a future period, a charge will be recognised over the remaining expected period to the exit date.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2024 - 3).

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Intangible assets

| Patents, trademarks and licenses £ | Total £
Cost or valuation
At 1 January 2025 | 510 | 510
Additions acquired separately | 10,244 | 10,244
At 31 December 2025 | 10,754 | 10,754
Amortisation
At 1 January 2025 | 183 | 183
Amortisation charge | 556 | 556
At 31 December 2025 | 739 | 739
Carrying amount
At 31 December 2025 | 10,015 | 10,015
At 31 December 2024 | 327 | 327

5 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 January 2025 | 2,350 | 2,350
At 31 December 2025 | 2,350 | 2,350
Depreciation
At 1 January 2025 | 2,143 | 2,143
Charge for the year | 207 | 207
At 31 December 2025 | 2,350 | 2,350
Carrying amount
At 31 December 2025 | - | -
At 31 December 2024 | 207 | 207

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Stocks

| 31 December 2025 £ | 31 December 2024 £
Other inventories | 156,664 | 143,919

7 | Debtors

| Note | 31 December 2025 £ | 31 December 2024 £
Trade debtors |  | 127,764 | 66,092
Amounts owed by related parties | 10 | - | 3,154
Other debtors |  | 29,133 | -
Prepayments |  | 4,391 | -
Accrued income |  | - | 197,643
Income tax asset |  | - | 23
|  | 161,288 | 266,912

8 | Creditors

Due within one year | Note | 31 December 2025 £ | 31 December 2024 £
Loans and borrowings | 9 | 26,034 | -
Trade creditors |  | 121,498 | 115,201
Amounts due to related parties | 10 | 101,325 | 123,604
Social security and other taxes |  | 4,410 | 5,349
Other creditors |  | 62,907 | 75
Accruals |  | 31,670 | 58,737
|  | 347,844 | 302,966

9 | Loans and borrowings

Current loans and borrowings

| 31 December 2025 £ | 31 December 2024 £
Bank overdrafts | 26,034 | -

Asian Parsnip Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

10 | Related party transactions

Loans to related parties

2025 | Entities with joint control or significant influence £ | Total £
At start of period | 3,154 | 3,154
Repaid | (3,154) | (3,154)
At end of period | - | -

2024 | Entities with joint control or significant influence £ | Total £
At start of period | 3,154 | 3,154
At end of period | 3,154 | 3,154

Loans from related parties

2025 | Key management £ | Total £
At start of period | 123,604 | 123,604
Advanced | 4,021 | 4,021
Repaid | (26,300) | (26,300)
At end of period | 101,325 | 101,325

2024 | Key management £ | Total £
At start of period | 122,574 | 122,574
Advanced | 1,030 | 1,030
At end of period | 123,604 | 123,604

Terms of loans from related parties

Loans from entites with joint control or significant influence are provided on an interest-free basis and are repayable on demand.
Loans from key mangement are provided on an interest-free basis and are repayable on demand.