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Registration number: 03435915

Parallel Systems Limited
Unaudited Financial Statements - Companies house filing
for the Year Ended 31 December 2025

Parallel Systems Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 7

Parallel Systems Limited

(Registration number: 03435915)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 10,383 | 8,798
Investment property | 5 | 590,000 | 604,000
Other financial assets | 6 | 82,440 | -
|  | 682,823 | 612,798
Current assets |  |  |
Stocks | 7 | 550 | 1,983
Debtors | 8 | 366,895 | 156,874
Cash at bank and in hand |  | 651,087 | 809,967
|  | 1,018,532 | 968,824
Creditors: Amounts falling due within one year | 9 | (583,566) | (606,296)
Net current assets |  | 434,966 | 362,528
Total assets less current liabilities |  | 1,117,789 | 975,326
Provisions for liabilities |  | (15,491) | (17,346)
Net assets |  | 1,102,298 | 957,980
Capital and reserves |  |  |
Called up share capital |  | 15,900 | 15,900
Share premium reserve |  | 14,205 | 14,205
Fair value reserve |  | 38,686 | 45,436
Profit and loss account |  | 1,033,507 | 882,439
Shareholders' funds |  | 1,102,298 | 957,980

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 Income Statement.

Parallel Systems Limited

(Registration number: 03435915)
Statement of Financial Position as at 31 December 2025

Approved and authorised by the Board on 31 March 2026 and signed on its behalf by:

......................................... S A G Wood Director

Parallel Systems Limited

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: 16 Ardingly, Bracknell, Berkshire, RG12 8XR.

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 currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Parallel Systems Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Plant and machinery | 25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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 inventories 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.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Parallel Systems Limited

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

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 5).

4 | Tangible assets

| Plant and machinery £ | Total £
Cost or valuation
At 1 January 2025 | 78,803 | 78,803
Additions | 5,043 | 5,043
At 31 December 2025 | 83,846 | 83,846
Depreciation
At 1 January 2025 | 70,005 | 70,005
Charge for the year | 3,458 | 3,458
At 31 December 2025 | 73,463 | 73,463
Carrying amount
At 31 December 2025 | 10,383 | 10,383
At 31 December 2024 | 8,798 | 8,798

Parallel Systems Limited

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

5 | Investment properties

| 2025 £
At 1 January | 604,000
Fair value adjustments | (14,000)
At 31 December | 590,000

The properties have been revalued by the directors on an open market basis.

There has been no valuation of investment property by an independent valuer.

6 | Other financial assets (current and non-current)

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
Revaluations | 31,314 | 31,314
Additions | 51,126 | 51,126
At 31 December 2025 | 82,440 | 82,440
Impairment
Carrying amount
At 31 December 2025 | 82,440 | 82,440

7 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 550 | 1,983

Parallel Systems Limited

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

8 | Debtors

| 2025 £ | 2024 £
Trade debtors | 365,412 | 124,820
Other debtors | 74 | -
Prepayments | 1,409 | 32,054
| 366,895 | 156,874

9 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 6,895 | 168,997
Taxation and social security | 216,021 | 215,054
Accruals and deferred income | 303,643 | 219,173
Other creditors | 57,007 | 3,072
| 583,566 | 606,296