Parness Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01533723 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

PARNESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B C Clarke

Mrs I N Clarke

Mr M Smith

SECRETARY:

Mrs I N Clarke

REGISTERED OFFICE:

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

REGISTERED NUMBER:

01533723 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

3

258

304

CURRENT ASSETS

Debtors

4

1,402

16,851

Cash at bank

3,648

1,905

5,050

18,756

CREDITORS

Amounts falling due within one year

5

12,559

10,749

NET CURRENT (LIABILITIES)/ASSETS

(7,509

)

8,007

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,251

)

8,311

CAPITAL AND RESERVES

Called up share capital

6

150

150

Retained earnings

7

(7,401

)

8,161

SHAREHOLDERS' FUNDS

(7,251

)

8,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 August 2017 and were signed on its behalf by:

Mr B C Clarke - Director

1.	STATUTORY INFORMATION

Parness Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the going concern basis. This is on the basis that financial

support will continue to be provided by the directors for the foreseeable future.

Turnover

Turnover represents the value of goods (net of VAT) provided to customers during the year, plus the value of

commission (net of VAT) during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 May 2016

and 30 April 2017

6,256

10,200

2,335

18,791

Depreciation

At 1 May 2016

6,141

10,185

2,161

18,487

Charge for year

17

3

26

46

At 30 April 2017

6,158

10,188

2,187

18,533

Net book value

At 30 April 2017

98

12

148

258

At 30 April 2016

115

15

174

304

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

7

14,749

VAT

1,096

2,102

Prepayments

299

-

1,402

16,851

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

7,360

6,765

Tax

1

1

Directors' current accounts

3,458

2,293

Accruals and deferred income

1,740

1,690

12,559

10,749

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

150

Ordinary shares

£1

150

150

7.

RESERVES

Retained

earnings

£

At 1 May 2016

8,161

Deficit for the year

(15,562

)

At 30 April 2017

(7,401

)

8.	RELATED PARTY DISCLOSURES

9.	FRS 102 TRANSITION

The company has adopted FRS 102 from 1.5.2015 and is therefore required to restate the comparative figures

for the year ended 31.04.16 The previously reported reserves are not materially affected by the change to FRS

102 and therefore the figures do not require restatement.