Company registration number:
14424937
(England and Wales)
Parallel Innovations Ltd
Unaudited filleted financial statements
for the year ended
31 March 2026
Parallel Innovations Ltd
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
Parallel Innovations Ltd
Directors and other information
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Directors |
Mr Robert Klarner |
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Mrs Felicity Klarner |
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Company number |
14424937 |
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Business address |
Innovation Centre, Knowledge Gateway |
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Boundary Road |
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Colchester |
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Essex |
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CO4 3ZQ |
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Accountants |
Griffin Chapman |
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4 & 5 The Cedars, Apex 12 |
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Old Ipswich Road |
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Colchester |
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Essex |
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CO7 7QR |
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Parallel Innovations Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Parallel Innovations Ltd
Year ended 31 March 2026
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 Innovations Ltd for the year ended 31 March 2026 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Parallel Innovations Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Parallel Innovations Ltd and state those matters that we have agreed to state to the board of directors of Parallel Innovations Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parallel Innovations Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Parallel Innovations 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 profit of Parallel Innovations Ltd. You consider that Parallel Innovations 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 Innovations 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.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
2 November 2026
Parallel Innovations Ltd
Statement of financial position
31 March 2026
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31/03/26 |
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31/03/25 |
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£ |
£ |
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£ |
£ |
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Fixed assets |
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6,592 |
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6,634 |
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_______ |
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_______ |
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Current assets |
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133,052 |
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170,967 |
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Prepayments and accrued income |
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550 |
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- |
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_______ |
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_______ |
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133,602 |
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170,967 |
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Creditors: amounts falling due within one year |
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(
49,802) |
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(
68,306) |
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_______ |
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_______ |
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Net current assets |
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83,800 |
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102,661 |
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Total assets less current liabilities |
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90,392 |
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109,295 |
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Accruals and deferred income |
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(
44,156) |
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(
66,098) |
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_______ |
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Net assets |
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46,236 |
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43,197 |
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Capital and reserves |
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46,236 |
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43,197 |
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_______ |
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Notes to the financial statements
Parallel Innovations Ltd
Year ended 31 March 2026
1.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2025:
2
).
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the
board of directors
and authorised for issue on
02 November 2026
, and are signed on behalf of the board by:
Mr Robert Klarner
Mrs Felicity Klarner
Director
Director
Company registration number:
14424937
The company is a private company limited by shares, registered in England and Wales.