Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false12022-03-01trueNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13190591 2022-03-01 2023-02-28 13190591 2021-02-09 2022-02-28 13190591 2023-02-28 13190591 2022-02-28 13190591 2021-02-09 13190591 c:Director1 2022-03-01 2023-02-28 13190591 d:CurrentFinancialInstruments 2023-02-28 13190591 d:CurrentFinancialInstruments 2022-02-28 13190591 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13190591 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 13190591 d:ShareCapital 2023-02-28 13190591 d:ShareCapital 2021-02-09 2022-02-28 13190591 d:ShareCapital 2022-02-28 13190591 d:ShareCapital 2021-02-09 13190591 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 13190591 d:RetainedEarningsAccumulatedLosses 2023-02-28 13190591 d:RetainedEarningsAccumulatedLosses 2021-02-09 2022-02-28 13190591 d:RetainedEarningsAccumulatedLosses 2022-02-28 13190591 d:RetainedEarningsAccumulatedLosses 2021-02-09 13190591 c:OrdinaryShareClass1 2022-03-01 2023-02-28 13190591 c:OrdinaryShareClass1 2023-02-28 13190591 c:OrdinaryShareClass1 2022-02-28 13190591 c:FRS102 2022-03-01 2023-02-28 13190591 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 13190591 c:FullAccounts 2022-03-01 2023-02-28 13190591 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13190591 6 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13190591












PAR5 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


 
REGISTERED NUMBER:13190591
PAR5 LIMITED

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
40
40

  
40
40

  

Creditors: amounts falling due within one year
 5 
(4,178)
(2,263)

Net current liabilities
  
 
 
(4,178)
 
 
(2,263)

Total assets less current liabilities
  
(4,138)
(2,223)

  

Net liabilities
  
(4,138)
(2,223)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(4,238)
(2,323)

Total deficit
  
(4,138)
(2,223)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the sole director.




P J Palsson
Director

Date: 16 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 

PAR5 LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 9 February 2021
-
-
-



Loss for the period
-
(2,323)
(2,323)

Shares issued during the period
100
-
100



At 28 February 2022 and 1 March 2022
100
(2,323)
(2,223)



Loss for the year
-
(1,915)
(1,915)


At 28 February 2023
100
(4,238)
(4,138)


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 

PAR5 LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Par5 Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London WC2B 5AH. 
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

 
2.3

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.


2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 3

 

PAR5 LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 

PAR5 LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

  
2.5

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

  
2.6

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year/period was 1 (2022 - 1).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 March 2022
40



At 28 February 2023
40





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
715
-

Other creditors
2,263
1,183

Accruals and deferred income
1,200
1,080

4,178
2,263


Page 5

 

PAR5 LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


 
Page 6