ACCOUNTS - Final Accounts preparation

PARNESON INVESTMENT COMPANY LIMITED - Company Information

Print Friendly Version

Registered number: 00844277

PARNESON INVESTMENT COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2019

PARNESON INVESTMENT COMPANY LIMITED

REGISTERED NUMBER: 00844277

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2019

		2019		2018
Note		£		£

Fixed assets
Investments	4		22,278		21,821
			22,278		21,821
Current assets
Cash at bank and in hand	5	10,762		10,752
		10,762		10,752
Creditors: amounts falling due within one year	6	(6,321)		(5,070)
Net current assets			4,441		5,682
Total assets less current liabilities			26,719		27,503

Net assets			26,719		27,503

Capital and reserves
Called up share capital	16,999	16,999
Profit and loss account	9,720	10,504
	26,719	27,503

Page 1

PARNESON INVESTMENT COMPANY LIMITED

REGISTERED NUMBER: 00844277

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 APRIL 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 comprehensive income 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 on 2 August 2019.

................................................

S Seligman

Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

PARNESON INVESTMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

1.	General information

Parneson Investment Company is a private company limited by shares. It is incorporated in England and Wales (company number 00844277) and its registered office is 64 New Cavendish Street, London, W1G 8TB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.3

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 May 2018	21,821
	Additions	1,451
	Revaluations	(994)
	At 30 April 2019	22,278

Page 3

PARNESON INVESTMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

5.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	10,762	10,752
	10,762	10,752

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Other creditors	5,071	3,820
Accruals and deferred income	1,250	1,250
	6,321	5,070

7.	Related party transactions
	Included in other creditors is an amount of £5,067 (2018: £3,817) due to the director .

Page 4