PARADE EXPRESS LTD - Accounts

PARADE EXPRESS LTD - Accounts

PARADE EXPRESS LTD - Company Information

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Registered Number: 08889040


 

 

 

PARADE EXPRESS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2020

End date: 28 February 2021

PARADE EXPRESS LTD
Contents Page
For the year ended 28 February 2021
Accountants report
You consider that the company is exempt from an audit for the year ended 28 February 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
RCi Chartered Accountants and Business Advisors
Windsor House
9-15 Adelaide Street
Luton
LU1 5BJ
23 November 2021
1
 
 		 Notes
 		 2021
£
Fixed assets    
Tangible fixed assets 11,075 
11,075 
Current assets    
Debtors 7,684 
Cash at bank and in hand 86 
7,770 
Creditors: amount falling due within one year (50,333)
Net current liabilities (42,563)
 
Total assets less current liabilities (31,488)
Net liabilities (31,488)
 

Capital and reserves 		   
Called up share capital 1 
Profit and loss account (31,489)
Shareholder's funds (31,488)
 


For the year ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 November 2021 and were signed by:


--------------------------------
Shehroz Mukhtiar
Director
2
General Information
PARADE EXPRESS LTD is a private company, limited by shares, registered in , registration number 08889040, registration address 12 Nursery Parade, Marsh Road, Luton, LU3 2QP

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1.
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2020 -    - 
Additions 11,542    11,542 
Disposals -    - 
At 28 February 2021 11,542    11,542 
Depreciation
At 01 March 2020 -    - 
Charge for year 467    467 
On disposals -    - 
At 28 February 2021 467    467 
Net book values
Closing balance as at 28 February 2021 11,075    11,075 
Opening balance as at 01 March 2020 -    - 


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