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PARSLEY IN TIME LIMITED
Company Information
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PARSLEY IN TIME LIMITED
Contents
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PARSLEY IN TIME LIMITED
Group strategic report
For the Year Ended 31 August 2025
The directors present their strategic report for the year ended 31 August 2025.
2024/25 was a year of continued growth for Boostchoice Ltd as a leading supplier of catering and consumable equipment to restaurants and hotels, principally in London and the southeast of England.
The group experienced record sales despite continuing difficulties due to the disruption of supply chains both in the UK and abroad coupled with a shortage in certain areas of the labour market. Turnover of the group has increased to £18.3 million in the current year as compared to £17.8 million in 2024. However, due to a review of stock valuations and the identification of obsolete stocks, gross profits decreased to £3.7 million in the current year from £4.9 million in 2024. Sales margins are expected to rebound positively to their normal levels in the coming year.The group's balance sheet remained strong in the year with net assets standing at £3.7 million at the end of the year (2024: £3.5 million). On behalf of myself, the Board, and shareholders I want to thank my colleagues, customers and suppliers for their invaluable contribution to the success of the business over the year. Our strong customer focus and the consequent growth has enabled us to build value for all our stakeholders. We would also like thank our people for their outstanding engagement in these challenging times and for their genuine contribution to the business and support of our management. We look forward to the year ahead confident that with the strong foundations that have been established we can pursue the growth opportunities in the sector we serve. As such we will continue to invest in building our range of products, improve our inventory to improve availability to customers, implement technology to improve our customer service proposition and invest in our colleagues to continue to build talent across the group. Group's main trading company, Boostchoice Ltd, is principally engaged in the sale of catering equipment and consumables to the hotel and restaurant industry in London and the southeast of England. The company offers a wide range of third-party products via a multi-channel offering (telephone, website, field sales team and showroom) allowing customers to deal with us in a way that suits them best. At all times we pride ourselves on maintaining a focus on the customer's requirements and proving a speedy responsive and accurate service to customers. Objectives and routes to market The group's primary objective is to build market share whilst increasing and increase stakeholder value by: - Keeping abreast of market trends to facilitate an offering which meets the demands of marketplace. - Providing superior customer service with the needs of the customer foremost in our mind - Constantly looking for a wide range of suppliers - Excellent product availability with a superior range of alternative products and price points - Speedy efficient delivery of products to customers Our primary routes to market include: - Direct sales to end customer as a result of incoming phone and emails. - Sales to end customer via company's website. - Sales to hospitality customers via our expert field sales team. - Sales to various customers via showroom
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PARSLEY IN TIME LIMITED
Group strategic report (continued)
For the Year Ended 31 August 2025
The management of the business and group's business strategy are subject to several risks and the principal risks facing the business and how these risks have been mitigated are set out here.
Economic downturn The general economic environment is a crucial element in the success of the business. An economic downturn would have a negative impact on the public in general and thus on our customers. An economic downturn, whether driven by high inflation, high interest rates, geopolitical events, or a further a pandemic or various other factors resulting in a reduction of consumer spending power, would have an impact on the income achieved by the Group. In response to this risk, management closely keeps the economic environment under review. In the event of a severe economic downturn, marketing and pricing strategies would be modified to reflect the economic environment and overheads would be reduced accordingly. Credit risk The group provides credit to some customers. The group manages its credit risk by the use of third-party credit checking, setting credit limits and payment terms and actively monitoring payment performance. To mitigate the risk that customers may not settle their invoices, provisions are made for significantly overdue items on the debtors ledger with specific provision for debtors in financial difficulty. Management continues to review credit risk on an ongoing basis. Fluctuations in currency exchange rates The group is exposed to transaction and translation foreign exchange risk. The foreign exchange risk is mitigated by utilising a mixture of forward foreign exchange contracts and other financial instruments to manage the exposure to and reduce the volatility of the group's commitments. Insufficient hedging activity would adversely impact the results and the financial condition. Supply chain Interruptions to supply chains due to geopolitical or natural events, capacity constraints in global supply chains could result in a lack of availability of products. Since the Covid 19 pandemic we have taken steps to widen our range of suppliers to minimise in so far as is possible the risk of any future supply chain interruptions. Information Technology Failure of our information technology could result in the business being unable to operate effectively and the corruption or loss of data. This would have a detrimental impact on our financial position, our customers and could result in regulatory penalties and reputational damage. We have mitigated the risk by implementing industry recommended security standards and maintaining cyber security insurance. Fixed cost base and variable revenues As with most businesses a proportion of the group's overheads are fixed in nature. As a consequence, there is a risk that any significant reduction in revenue may lead to an inability to cover the fixed costs. Management closely monitors fixed and variable overheads against budget and cost saving initiatives are implemented on an ongoing basis throughout the business. Pricing strategies are designed such that they can be adapted to changes in market conditions.
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PARSLEY IN TIME LIMITED
Group strategic report (continued)
For the Year Ended 31 August 2025
Turnover, gross margin and operating profits are considered to be financial key performance indicator for the business.
Progress against the group's strategy and its individual elements are monitored by referencing certain financial and non-financial key performance indicators. The Directors monitor key performance indicators in the following areas:
Health and safety Customer metrics Productivity Sales and gross margin performance Cash and working capital management Payment practice Environment, Social and Governance (ESG) he group has always taken a conscientious approach in supporting its colleagues, local communities and caring for the environment. Our ESG strategy is now focused on the following two pillars: 1. Environmental Sustainability 2. Ethical Trading These pillars were chosen through input from stakeholders externally and internally. Our ESG strategy is underpinned by a solid foundation of responsible business principles and practices to make sure we operate our business in the right way. In terms of ethical trade, we have a robust set of policies and processes to ensure that any of the products we buy come from suppliers with similar labour standards to our own.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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PARSLEY IN TIME LIMITED
Director's report
For the Year Ended 31 August 2025
The director presents his report and the financial statements for the year ended 31 August 2025.
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £231,895 (2024 - £647,590).
During the year, the Company paid interim dividends of £Nil (2024: £Nil).
The director who served during the year was:
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PARSLEY IN TIME LIMITED
Director's report (continued)
For the Year Ended 31 August 2025
The group has been resilient and successfully traded through a period when its core hospitality sector was significantly impacted by Covid-19, geo-political factors impacting supply chains, inflation.
The group's success is founded on developing strong business relations with a diverse and extensive range of customers via a multi-channel business model with a strong focus on the needs of customers. The group will continue to put customers at the centre of its strategy, ensuring that it is easy for customers to do business with us by delivering excellent value a wide range of products, speedy delivery and superior customer service. The next year will see accelerated investment in distribution capability, customer support, technology and infrastructure to improve our service proposition and reducing costs. The board is confident that the right strategy is in place to continue to deliver sustainable growth.
On April 2 2026, the company’s shares were transferred into an employee benefit trust, Parsley In Time Limited Trust. The trust is controlled by trustees, Qubic Trustees Ltd and Qubic Fiduciaries Limited, and the beneficiaries are employees of the Parsley In Time Ltd and Boostchoice Ltd. This represents a non-adjusting event after the reporting period.
The auditors, Mantax Lynton, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 28 May 2026 and signed on its behalf.
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PARSLEY IN TIME LIMITED
Independent auditors' report to the members of PARSLEY IN TIME LIMITED
We have audited the financial statements of PARSLEY IN TIME LIMITED (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 August 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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PARSLEY IN TIME LIMITED
Independent auditors' report to the members of PARSLEY IN TIME LIMITED (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.
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PARSLEY IN TIME LIMITED
Independent auditors' report to the members of PARSLEY IN TIME LIMITED (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and relevant taxation legislation.
∙We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be override of controls by management, inappropriate revenue recognition, carrying value of intangibles and going concern. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, reviewing accounting estimates for biases, corroborating revenue recognised by the group through agreements to supporting documentation and ensuring accounting policies are appropriate under United Kingdom Generally Accepted Accounting Practice and applicable law.
∙Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
∙These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
In the previous accounting period, the directors of the company took advantage of audit exemption under section 477 of the Companies Act 2006. Hence, the prior period Financial Statements as shown in comparatives were not subject to audit.
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PARSLEY IN TIME LIMITED
Independent auditors' report to the members of PARSLEY IN TIME LIMITED (continued)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
2nd Floor Equitable House
7 General Gordon Square
United Kingdom
28 May 2026
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PARSLEY IN TIME LIMITED
Consolidated statement of comprehensive income
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Registered number: 12518249
Consolidated statement of financial position
As at
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PARSLEY IN TIME LIMITED
Registered number: 12518249
Consolidated statement of financial position (continued)
As at 31 August 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
The notes on pages 18 to 35 form part of these financial statements.
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PARSLEY IN TIME LIMITED
Registered number: 12518249
Company statement of financial position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2026.
The notes on pages 18 to 35 form part of these financial statements.
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PARSLEY IN TIME LIMITED
Consolidated statement of changes in equity
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Company statement of changes in equity
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Consolidated statement of cash flows
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Consolidated Analysis of Net Debt
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
Parsley In Time Ltd is a company limited by shares incorporated in England and Wales. The company's registration number and address of the registered office is given in the company information page of these financial statements.
The principal activities of the company in the year under review was that of investment activities .
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
2.Accounting policies (continued)
measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised prospectively in the period in which the estimates are revised and in any future periods affected. Provision for obsolete and slow-moving inventories Management assesses inventories at each reporting date for indicators of obsolescence, slow movement, physical damage or declines in net realisable value. Provisions are recognised where the carrying value of inventory is not expected to be recovered through sale or use. The assessment involves judgement regarding future demand, expected selling prices and the condition of inventory items.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
Analysis of turnover by country of destination:
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
Hire purchase obligations are secured by a fixed charge over the company's motor vehicles to which they relate.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
21.Deferred taxation (continued)
Profit and loss account
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £141,684 (2024: £35,114).
Contributions totaling £7,837 (2024: £7,065) were payable to the fund at the reporting date and are included in creditors.
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PARSLEY IN TIME LIMITED
Notes to the financial statements
For the Year Ended 31 August 2025
The company was jointly controlled by R Walpole and E Walpole by virtue of their shareholding at the reporting date. However at the time of approval of these financial statements, the company is controlled by the trustees of Parsley In Time Limited Trust.
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