Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28true22022-03-01falsedevelopment of property for furnished holiday let2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11327562 2022-03-01 2023-02-28 11327562 2021-03-01 2022-02-28 11327562 2023-02-28 11327562 2022-02-28 11327562 c:Director1 2022-03-01 2023-02-28 11327562 d:Buildings 2022-03-01 2023-02-28 11327562 d:Buildings 2023-02-28 11327562 d:Buildings 2022-02-28 11327562 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11327562 d:FurnitureFittings 2022-03-01 2023-02-28 11327562 d:FurnitureFittings 2023-02-28 11327562 d:FurnitureFittings 2022-02-28 11327562 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11327562 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11327562 d:CurrentFinancialInstruments 2023-02-28 11327562 d:CurrentFinancialInstruments 2022-02-28 11327562 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11327562 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11327562 d:ShareCapital 2023-02-28 11327562 d:ShareCapital 2022-02-28 11327562 d:SharePremium 2023-02-28 11327562 d:SharePremium 2022-02-28 11327562 d:RetainedEarningsAccumulatedLosses 2023-02-28 11327562 d:RetainedEarningsAccumulatedLosses 2022-02-28 11327562 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 11327562 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 11327562 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-02-28 11327562 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-02-28 11327562 c:FRS102 2022-03-01 2023-02-28 11327562 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11327562 c:FullAccounts 2022-03-01 2023-02-28 11327562 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number:  11327562














PARTI DEVELOPMENT ONE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


 
PARTI DEVELOPMENT ONE LIMITED
REGISTERED NUMBER: 11327562

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,021,215
1,017,745

  
1,021,215
1,017,745

Current assets
  

Debtors: amounts falling due within one year
 5 
1,978,505
1,977,423

Cash at bank and in hand
 6 
35,840
43,830

  
2,014,345
2,021,253

Creditors: amounts falling due within one year
 7 
(53,955)
(56,808)

Net current assets
  
 
 
1,960,390
 
 
1,964,445

Total assets less current liabilities
  
2,981,605
2,982,190

  

Net assets
  
2,981,605
2,982,190


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
  
2,999,106
2,999,106

Profit and loss account
  
(18,501)
(17,916)

  
2,981,605
2,982,190


Page 1

 
PARTI DEVELOPMENT ONE LIMITED
REGISTERED NUMBER: 11327562
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider 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 directors acknowledge their 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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
T Leahy
Director

Date: 28 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (No. 11327562). The registered office address is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the company as an individual undertaking.The principal activity of the company is that of development of furnished holiday letting accommodation.

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

Taxation

Tax is recognised in profit or loss 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.

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.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
On cost
Fixtures and fittings
-
20%
On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 March 2022
1,017,205
900
1,018,105


Additions
3,650
-
3,650



At 28 February 2023

1,020,855
900
1,021,755



Depreciation


At 1 March 2022
-
360
360


Charge for the year on owned assets
-
180
180



At 28 February 2023

-
540
540



Net book value



At 28 February 2023
1,020,855
360
1,021,215



At 28 February 2022
1,017,205
540
1,017,745

Freehold property contains land valued at cost amounting to £780,460 which is not subject to depreciation.

Page 6

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
1,182
100

Called up share capital not paid
1,977,323
1,977,323

1,978,505
1,977,423



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,840
43,830

35,840
43,830



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
115
-

Other creditors
52,840
53,308

Accruals and deferred income
1,000
3,500

53,955
56,808


Page 7

 
PARTI DEVELOPMENT ONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
35,840
43,830

Financial assets measured at amortised cost
1,977,323
1,977,323

2,013,163
2,021,153


Financial liabilities


Financial liabilities measured at amortised cost
53,955
56,808


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of other debtors.


Financial liabilities measured at amortised cost comprise of other creditors and accruals.


9.


Related party transactions

Included in other debtors and other creditors are the following amounts due to / (from) the company at the balance sheet date:


2023
2022
£
£

Maia+ Limited
(52,715)
(53,184)
T Leahy
(124)
(124)

Maia+ Limited is the parent company. The loan is repayable on demand and no interest has been charged.
T Leahy is a director. The loan is repayable on demand and no interest has been charged.


10.


Controlling party

The company is under the control of its parent, Maia+ Limited.

 
Page 8