Plassroom Ltd 13225803 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of other education not elsewhere classified. Digita Accounts Production Advanced 6.30.9574.0 true 13225803 2022-03-01 2023-02-28 13225803 2023-02-28 13225803 core:CurrentFinancialInstruments 2023-02-28 13225803 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13225803 bus:SmallEntities 2022-03-01 2023-02-28 13225803 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13225803 bus:AbridgedAccounts 2022-03-01 2023-02-28 13225803 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13225803 bus:RegisteredOffice 2022-03-01 2023-02-28 13225803 bus:Director1 2022-03-01 2023-02-28 13225803 bus:Director2 2022-03-01 2023-02-28 13225803 bus:Director3 2022-03-01 2023-02-28 13225803 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13225803 core:ComputerSoftware 2022-03-01 2023-02-28 13225803 countries:EnglandWales 2022-03-01 2023-02-28 13225803 2021-02-25 2022-02-28 13225803 2022-02-28 13225803 core:CurrentFinancialInstruments 2022-02-28 13225803 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13225803

Plassroom Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

 

Plassroom Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

Plassroom Ltd

Company Information

Directors

Mr B T Y Chin

Mr I K Duffy

Mrs J C Lim

Registered office

1st Floor, 44 Worship Street
London
EC2A 2EA

Accountants

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

 

Plassroom Ltd

(Registration number: 13225803)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

59,419

42,048

Current assets

 

Debtors

29

-

Cash at bank and in hand

 

203

833

 

232

833

Creditors: Amounts falling due within one year

(108,554)

(58,785)

Net current liabilities

 

(108,322)

(57,952)

Total assets less current liabilities

 

(48,903)

(15,904)

Accruals and deferred income

 

(7,360)

(900)

Net liabilities

 

(56,263)

(16,804)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(56,264)

(16,805)

Shareholders' deficit

 

(56,263)

(16,804)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

 

Plassroom Ltd

(Registration number: 13225803)
Abridged Balance Sheet as at 28 February 2023

.........................................
Mr B T Y Chin
Director

 

Plassroom Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor, 44 Worship Street
London
EC2A 2EA

These financial statements were authorised for issue by the Board on 27 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development

25% on straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Plassroom Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).