Paratools Ltd Company Accounts

COMPANY REGISTRATION NUMBER: 10274304

Paratools Ltd

Filleted Unaudited Financial Statements

31 May 2018

Paratools Ltd

Financial Statements

Year ended 31 May 2018

Contents	Page

Statement of financial position	1

Statement of changes in equity	2

Notes to the financial statements	3

Paratools Ltd

Statement of Financial Position

31 May 2018

	2018		2017
Note	£	£	£

Current assets

Cash at bank and in hand	1,915		3,475

Creditors: amounts falling due within one year	4	8,460		9,060
		-------		-------
Net current liabilities			6,545	5,585
			-------	-------
Total assets less current liabilities			( 6,545)	( 5,585)
			-------	-------
Net liabilities			( 6,545)	( 5,585)
			-------	-------

Capital and reserves

Called up share capital	5	100	100
Profit and loss account		( 6,645)	( 5,685)
		-------	-------
Shareholders deficit		( 6,545)	( 5,585)
		-------	-------

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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 6 November 2018 , and are signed on behalf of the board by:

Mr S Shende
Director

Company registration number: 10274304

Paratools Ltd

Statement of Changes in Equity

Year ended 31 May 2018

	Called up share capital	Profit and loss account	Total
	£	£	£
At 12 July 2016	–	–	–

Loss for the year		( 5,685)	( 5,685)
	----	-------	-------
Total comprehensive income for the year	–	( 5,685)	( 5,685)

Issue of shares	100	–	100
	----	-------	-------
Total investments by and distributions to owners	100	–	100

At 31 May 2017	100	( 5,685)	( 5,585)

Loss for the year		( 960)	( 960)
	----	-------	-------
Total comprehensive income for the year	–	( 960)	( 960)

	----	-------	-------
At 31 May 2018	100	( 6,645)	( 6,545)
	----	-------	-------

Paratools Ltd

Notes to the Financial Statements

Year ended 31 May 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sycamore House, Sutton Quays Business Park, Sutton Weaver, Runcorn, Cheshire, WA7 3EH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.

4. Creditors: amounts falling due within one year

	2018	2017
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7,500	7,500
Other creditors	960	1,560
	-------	-------
	8,460	9,060
	-------	-------

5. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

6. Controlling party

The company's ultimate parent company is Paratools Inc, a company registered in Oregon, USA, which owns 100% of the company's issued share capital.