Parallel.net Limited - Accounts to registrar (filleted) - small 18.2
Parallel.net Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 |
| FOR |
| PARALLEL.NET LIMITED |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PARALLEL.NET LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 34 Lower Richmond Road |
| Putney |
| London |
| SW15 1JP |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| BALANCE SHEET |
| 31 AUGUST 2020 |
| 31.8.20 | 31.8.19 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| BALANCE SHEET - continued |
| 31 AUGUST 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| 1. | STATUTORY INFORMATION |
| Parallel.net Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Office furniture | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Office | Plant and | and |
| furniture | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 September 2019 |
| Additions |
| At 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2019 |
| Additions |
| At 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.20 | 31.8.19 |
| value: | £ | £ |
| Ordinary | £1 | 2,000 | 2,000 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2019 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2020 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2020 and 31 August 2019: |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| It is confirmed that the director’s current account is debited with personal transactions and credited with director’s remuneration as well as dividends. |
| The loan is unsecured, interest free and no repayment terms have been agreed. |
| PARALLEL.NET LIMITED (REGISTERED NUMBER: 03073313) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2020 |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £155,000 (2019 - £145,000) were paid to the directors . |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |