Company registration number: 06307553
COMPANY INFORMATION
CONTENTS
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 5 form part of these financial statements.
Page 1
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Parallel Business Centres Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At 31 March 2025 the company's liabilities exceeded its assets.
The directors remain confident in the going concern status of the entity. The company is a subsidiary of the Wilky Group Limited. The company is reliant upon continued support of the Wilky Group in order that they can meet their day today financial commitments. The Wilky Group has confirmed that it will continue to provide support for day to day working capital as required. The directors have reviewed the groups plans for the next twelve months from the date of the approved financial statements and are satisfied that the company and the group will have sufficient funds to meet the day to day working capital requirements. On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The directors remain confident in the going concern status of the entity. The company is a subsidiary of the Wilky Group Limited. The company is reliant upon continued support of the Wilky Group in order that they can meet their day today financial commitments. The Wilky Group has confirmed that it will continue to provide support for day to day working capital as required. The directors have reviewed the groups plans for the next twelve months from the date of the approved financial statements and are satisfied that the company and the group will have sufficient funds to meet the day to day working capital requirements. On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
Page 2
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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.
The average monthly number of employees, including directors, during the year was 9 (2023 - 9).
Page 3
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 4
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The immediate parent company is Wilky Property Holdings Limited, a company registered in England. The registered office address of Wilky Property Holdings Limited is: Parallel House, 32 London Road, Guildford, Surrey, GU1 2AB.
The ultimate parent company is Wilky Group Limited, a company registered in England. The registered office address of the Wilky Group Limited is: Parallel House, 32 London Road, Guildford, Surrey, GU1 2AB.
The smallest and largest group in which the results of the company are consolidated is that headed by The Wilky Group Limited.
The Wilky Group Limited prepares consolidated financial statements and copies can be obtained from Companies House.
The ultimate parent company is Wilky Group Limited, a company registered in England. The registered office address of the Wilky Group Limited is: Parallel House, 32 London Road, Guildford, Surrey, GU1 2AB.
The smallest and largest group in which the results of the company are consolidated is that headed by The Wilky Group Limited.
The Wilky Group Limited prepares consolidated financial statements and copies can be obtained from Companies House.
Page 5