PAREMUS_LTD - Accounts

PAREMUS LIMITED - Company Information

Print Friendly Version

Company Registration No. 04181472 (England and Wales)

PAREMUS LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

PAREMUS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PAREMUS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,212

3,436

Current assets

Debtors

93,708

83,474

Cash at bank and in hand

1,288

94,996

83,477

Creditors: amounts falling due within one year

(730,013)

(676,118)

Net current liabilities

(635,017)

(592,641)

Total assets less current liabilities

(632,805)

(589,205)

Capital and reserves

Called up share capital

3,965

3,698

Share premium account

5,215,972

4,949,430

Profit and loss account

(5,852,742)

(5,542,333)

Shareholders' funds

(632,805)

(589,205)

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 June 2015

N J Squibb

Director

Company Registration No. 04181472

PAREMUS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company is reliant on the proceeds from the issue of shares to the directors and new and existing shareholders during the year under review. The directors consider that after making appropriate enquiries and at the time of approving these financial statements the company has adequate resources to continue in operational existence for the foreseeable future. The directors continue to adopt a going concern basis in preparing these financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents net invoiced sales of consultancy services and software licences, excluding value added tax.

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.3% on cost

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

PAREMUS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

70,853

Additions

264

At 31 March 2015

71,117

Depreciation

At 1 April 2014

67,417

Charge for the year

1,488

At 31 March 2015

68,905

Net book value

At 31 March 2015

2,212

At 31 March 2014

3,436

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £28,859).

Share capital

2015

2014

Allotted, called up and fully paid

- Ordinary Founder A of £-.001 each

490

682,550 Ordinary Founder B of £0.00001 each

907,872 Ordinary C of £0.00001 each

3,192,087 Ordinary of £0.001

3,192

3,070

3,965

3,698

On 10/7/14 a share re-organisation took place. Every two Founder A Shares were converted to one Ordinary share and every two Founder B shares were converted to one Ordinary C share.