Parasol Up Cocktails and Events Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06742226 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2016 TO 30 MARCH 2017

FOR

PARASOL UP COCKTAILS AND EVENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs N J Casey

SECRETARY:

J L Casey

REGISTERED OFFICE:

12 Romney Place

Maidstone

Kent

ME15 6LE

REGISTERED NUMBER:

06742226 (England and Wales)

ACCOUNTANTS:

Mackenzies

Chartered Accountants

12 Romney Place

Maidstone

Kent

ME15 6LE

FIXED ASSETS

Tangible assets

4

25,957

CURRENT ASSETS

Cash at bank

8,508

CREDITORS

Amounts falling due within one year

5

58,047

NET CURRENT LIABILITIES

(49,539

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,582

)

PROVISIONS FOR LIABILITIES

5,191

NET LIABILITIES

(28,773

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

6

(28,774

)

(28,773

)

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

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

The director acknowledges her 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 director on 20 March 2018 and were signed by:

Mrs N J Casey - Director

1.	STATUTORY INFORMATION

Parasol Up Cocktails and Events 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.

Turnover

Turnover 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

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

Additions

14,901

2,416

17,292

34,609

At 30 March 2017

14,901

2,416

17,292

34,609

DEPRECIATION

Charge for period

3,725

604

4,323

8,652

At 30 March 2017

3,725

604

4,323

8,652

NET BOOK VALUE

At 30 March 2017

11,176

1,812

12,969

25,957

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

56,967

Accrued expenses

1,080

58,047

6.

RESERVES

Retained

earnings

£

Deficit for the period

(28,774

)

At 30 March 2017

(28,774

)

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs N J Casey.

8.	GOING CONCERN

These accounts have been prepared on a going concern basis despite the balance sheet showing net liabilities

amounting to £28,773. The director has confirmed her continued support and considers the company retains

sufficient working capital to continue trading for the foreseeable future. The director has agreed to defer any

repayment of her director's loan until such time as the company is able to repay it without compromising the

working capital requirements.