Parity Projects Limited

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parity projects limited Company Information

Live

EstablishedSmallRapid

Company Number

05557883

Website

www.parityprojects.com

Registered Address

fore 2 2 huskisson way, shirley, solihull, west midlands, B90 4SS

Industry

Business and domestic software development

Engineering related scientific and technical consulting activities

Telephone

02088746433

Next Accounts Due

December 2024

Group Structure

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Directors

Jim Balas0 Years

Lisa Taylor0 Years

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Shareholders

russell paul smith 49.5%

christopher jon newman 19.8%

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parity projects limited Estimated Valuation

£1.8m

Pomanda estimates the enterprise value of PARITY PROJECTS LIMITED at £1.8m based on Net Assets of £726k and 2.54x industry multiple (adjusted for liquidity).

Edit your figures and get a professional valuation report.

Parity Projects Limited is a live company located in solihull, B90 4SS with a Companies House number of 05557883. It operates in the business and domestic software development sector, SIC Code 62012. Founded in September 2005, it's largest shareholder is russell paul smith with a 49.5% stake. Parity Projects Limited is a established, small sized company, Pomanda has estimated its turnover at £2.5m with rapid growth in recent years.

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Pomanda's financial health check has awarded Parity Projects Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 0 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

6 Strong

4 Regular

0 Weak

Size

annual sales of £2.5m, make it larger than the average company (£1.9m)

Growth

3 year (CAGR) sales growth of 48%, show it is growing at a faster rate (6.4%)

EXPORT

Parity Projects Limited's latest turnover from March 2023 is estimated at £2.5 million and the company has net assets of £726 thousand. According to their latest financial statements, Parity Projects Limited has 20 employees and maintains cash reserves of £865.3 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Turnover	2,475,497	1,286,932	1,197,535	762,293	569,741	248,638	272,717	430,445	444,507	444,176	422,009	844,825	803,942	313,523
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	1,131,644	552,396	519,060	322,221	235,272	102,344	101,789	147,464	170,187	158,709	155,562	333,820	252,297	109,467
Gross Profit	1,343,853	734,536	678,476	440,071	334,469	146,294	170,928	282,981	274,320	285,468	266,447	511,005	551,645	204,056
Admin Expenses	1,163,071	583,073	592,823	194,751	198,571	86,131	252,634	267,569	222,575	280,285	299,325	478,259	513,188	197,646
Operating Profit	180,782	151,463	85,653	245,320	135,898	60,163	-81,706	15,412	51,745	5,183	-32,878	32,746	38,457	6,410
Interest Payable	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Receivable	30,061	3,826	378	232	874	146	48	218	155	33	13	457	454	0
Pre-Tax Profit	210,843	155,289	86,031	245,552	136,772	60,310	-81,658	15,630	51,900	5,216	-32,865	33,203	38,911	6,410
Tax	-40,060	-29,505	-16,346	-46,655	-25,987	-11,459	0	-3,126	-10,899	-1,200	0	-8,633	-10,895	-1,795
Profit After Tax	170,783	125,784	69,685	198,897	110,785	48,851	-81,658	12,504	41,001	4,016	-32,865	24,570	28,016	4,615
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	170,783	125,784	69,685	198,897	110,785	48,851	-81,658	12,504	41,001	4,016	-32,865	24,570	28,016	4,615
Employee Costs	1,168,034	907,604	747,138	577,360	550,373	161,986	159,742	259,329	254,939	252,558	247,232	438,209	429,825	185,798
Number Of Employees	20	16	14	11	10	3	3	5	5	5	5	9	9	4
EBITDA*	185,742	151,463	86,953	245,639	135,898	60,163	-81,706	15,790	52,248	5,854	-32,131	33,513	39,479	6,862

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Tangible Assets	20,063	9,702	8,710	2,672	1,144	636	848	1,131	1,509	2,012	2,243	2,299	3,066	1,357
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	22,063	9,702	8,710	2,672	1,144	636	848	1,131	1,509	2,012	2,243	2,299	3,066	1,357
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	534,352	217,965	216,676	128,645	65,263	51,173	54,198	85,941	88,015	84,320	80,967	158,256	136,289	52,440
Group Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Misc Debtors	1,777	145,879	628	1,341	5,314	0	0	0	0	0	0	0	0	0
Cash	865,349	549,280	471,090	285,568	178,764	54,235	4,345	34,365	52,906	8,915	4,271	1,000	181,788	1
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
total current assets	1,401,478	913,124	688,394	415,554	249,341	105,408	58,543	120,306	140,921	93,235	85,238	159,256	318,077	52,441
total assets	1,423,541	922,826	697,104	418,226	250,485	106,044	59,391	121,437	142,430	95,247	87,481	161,555	321,143	53,798
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	0	0	0	1,263	10,666	55,994	58,192	38,580	72,077	65,895	62,145	103,354	287,512	48,183
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	692,542	367,625	267,687	57,231	78,984	0	0	0	0	0	0	0	0	0
total current liabilities	692,542	367,625	267,687	58,494	89,650	55,994	58,192	38,580	72,077	65,895	62,145	103,354	287,512	48,183
loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	5,015	0	0	0	0	0	0	0	0	0	0	0	0	0
total long term liabilities	5,015	0	0	0	0	0	0	0	0	0	0	0	0	0
total liabilities	697,557	367,625	267,687	58,494	89,650	55,994	58,192	38,580	72,077	65,895	62,145	103,354	287,512	48,183
net assets	725,984	555,201	429,417	359,732	160,835	50,050	1,199	82,857	70,353	29,352	25,336	58,201	33,631	5,615
total shareholders funds	725,984	555,201	429,417	359,732	160,835	50,050	1,199	82,857	70,353	29,352	25,336	58,201	33,631	5,615

	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013	Mar 2012	Mar 2011	Mar 2010
Operating Activities
Operating Profit	180,782	151,463	85,653	245,320	135,898	60,163	-81,706	15,412	51,745	5,183	-32,878	32,746	38,457	6,410
Depreciation	4,960	0	1,300	319	0	0	0	378	503	671	747	767	1,022	452
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-40,060	-29,505	-16,346	-46,655	-25,987	-11,459	0	-3,126	-10,899	-1,200	0	-8,633	-10,895	-1,795
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	172,285	146,540	87,318	59,409	19,404	-3,025	-31,743	-2,074	3,695	3,353	-77,289	21,967	83,849	52,440
Creditors	0	0	-1,263	-9,403	-45,328	-2,198	19,612	-33,497	6,182	3,750	-41,209	-184,158	239,329	48,183
Accruals and Deferred Income	324,917	99,938	210,456	-21,753	78,984	0	0	0	0	0	0	0	0	0
Deferred Taxes & Provisions	5,015	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash flow from operations	303,329	75,356	192,482	108,419	124,163	49,531	-30,351	-18,759	43,836	5,051	3,949	-181,245	184,064	810
Investing Activities
capital expenditure	-15,321	-992	-7,338	-1,847	-508	212	283	0	0	-440	-691	0	-2,731	-1,809
Change in Investments	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0
cash flow from investments	-17,321	-992	-7,338	-1,847	-508	212	283	0	0	-440	-691	0	-2,731	-1,809
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	0	0	0	0	0	0	0	1,000
interest	30,061	3,826	378	232	874	146	48	218	155	33	13	457	454	0
cash flow from financing	30,061	3,826	378	232	874	146	48	218	155	33	13	457	454	1,000
cash and cash equivalents
cash	316,069	78,190	185,522	106,804	124,529	49,890	-30,020	-18,541	43,991	4,644	3,271	-180,788	181,787	1
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	316,069	78,190	185,522	106,804	124,529	49,890	-30,020	-18,541	43,991	4,644	3,271	-180,788	181,787	1

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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PARITY PROJECTS LIMITED group structure

Parity Projects Limited has no subsidiary companies.

Ultimate parent company

PARITY PROJECTS LIMITED

05557883

PARITY PROJECTS LIMITED Shareholders

russell paul smith	49.46%
christopher jon newman	19.78%
david john shewan	19.78%
ruth smith	9.89%
dafydd cian	0.1%
megan mann	0.1%
alaine duffy	0.1%
keith jackson	0.1%
peter griffin	0.1%
rachel eyles	0.1%

Parity Projects Limited currently has 3 directors. The longest serving directors include Mr Jim Balas (Apr 2024) and Ms Lisa Taylor (Apr 2024).

officer	country	age	start	end	role
Mr Jim Balas	United States	54 years	Apr 2024	-	Director
Ms Lisa Taylor	United States	72 years	Apr 2024	-	Director
Mr David Driver	England	51 years	Apr 2024	-	Director

P&L

March 2023

turnover

2.5m

+92%

operating profit

180.8k

gross margin

54.3%

-4.89%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

March 2023

net assets

726k

+0.31%

total assets

1.4m

+0.54%

cash

865.3k

+0.58%

net assets

Total assets minus all liabilities

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company number

05557883

Type

Private limited with Share Capital

industry

62012 - Business and domestic software development

71122 - Engineering related scientific and technical consulting activities

incorporation date

September 2005

accounts

Total Exemption Full

ultimate parent company

None

previous names

N/A

last accounts submitted

March 2023

address

fore 2 2 huskisson way, shirley, solihull, west midlands, B90 4SS

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parity projects limited Company Information

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parity projects limited Estimated Valuation

parity projects limited Estimated Valuation

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