| REGISTERED NUMBER: |
| PARALLEL CREATIONS LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| REGISTERED NUMBER: |
| PARALLEL CREATIONS LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2026 |
| PARALLEL CREATIONS LTD (REGISTERED NUMBER: 07721063) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2026 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| Chartered accountants' report | 6 |
| PARALLEL CREATIONS LTD |
| COMPANY INFORMATION |
| for the year ended 31 March 2026 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Lygon House |
| 50 London Road |
| Bromley |
| Kent |
| BR1 3RA |
| PARALLEL CREATIONS LTD (REGISTERED NUMBER: 07721063) |
| BALANCE SHEET |
| 31 March 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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 were approved by the director and authorised for issue on |
| PARALLEL CREATIONS LTD (REGISTERED NUMBER: 07721063) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| Parallel Creations Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The company has been and will continue to be financially supported by the directors. |
| The directors will continue to financially support the company for a period exceeding twelve months from the date of the directors report. |
| On the basis that the company has sufficient financial support from the directors, they have prepared the accounts on a going concern basis. |
| The directors have also reviewed the post year end financial information available at the time of approving these financial statements and have concluded that the financial statements should be prepared on a going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Bicycles | - |
| Office & computer equipment | - |
| Taxation |
| Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| 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. |
| 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. |
| PARALLEL CREATIONS LTD (REGISTERED NUMBER: 07721063) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2026 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 |
| AMORTISATION |
| At 1 April 2025 |
| and 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Office & |
| computer |
| Bicycles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2025 |
| Additions |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Other debtors |
| PARALLEL CREATIONS LTD (REGISTERED NUMBER: 07721063) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2026 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PARALLEL CREATIONS LTD |
| The following reproduces the text of the report prepared for the director 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 director 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 Parallel Creations Ltd for the year ended 31 March 2026 which comprise the Statement of income and retained earnings, 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 director of Parallel Creations Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parallel Creations Ltd and state those matters that we have agreed to state to the director of Parallel Creations Ltd 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 Parallel Creations Ltd and its director for our work or for this report. |
| It is your duty to ensure that Parallel Creations 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 Parallel Creations Ltd. You consider that Parallel Creations 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 Parallel Creations 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. |
| Chartered Accountants |
| Lygon House |
| 50 London Road |
| Bromley |
| Kent |
| BR1 3RA |