Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28falsetrue2022-03-01trueArchitecture planning and design88The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09749689 2022-03-01 2023-02-28 09749689 2021-03-01 2022-02-28 09749689 2023-02-28 09749689 2022-02-28 09749689 2021-03-01 09749689 c:Director1 2022-03-01 2023-02-28 09749689 d:OfficeEquipment 2022-03-01 2023-02-28 09749689 d:OfficeEquipment 2023-02-28 09749689 d:OfficeEquipment 2022-02-28 09749689 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09749689 d:ComputerSoftware 2023-02-28 09749689 d:ComputerSoftware 2022-02-28 09749689 d:CurrentFinancialInstruments 2023-02-28 09749689 d:CurrentFinancialInstruments 2022-02-28 09749689 d:Non-currentFinancialInstruments 2023-02-28 09749689 d:Non-currentFinancialInstruments 2022-02-28 09749689 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09749689 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 09749689 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09749689 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 09749689 d:ShareCapital 2023-02-28 09749689 d:ShareCapital 2022-02-28 09749689 d:RetainedEarningsAccumulatedLosses 2023-02-28 09749689 d:RetainedEarningsAccumulatedLosses 2022-02-28 09749689 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 09749689 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 09749689 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2023-02-28 09749689 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2022-02-28 09749689 c:FRS102 2022-03-01 2023-02-28 09749689 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 09749689 c:FullAccounts 2022-03-01 2023-02-28 09749689 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09749689 2 2022-03-01 2023-02-28 09749689 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 09749689 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 09749689 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 09749689 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 09749689 d:RetirementBenefitObligationsDeferredTax 2023-02-28 09749689 d:RetirementBenefitObligationsDeferredTax 2022-02-28 09749689 d:ComputerSoftware d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number:  09749689














PARTI+ LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


 
PARTI+ LIMITED
REGISTERED NUMBER: 09749689

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,592
5,388

Tangible assets
 5 
6,710
9,606

  
10,302
14,994

Current assets
  

Stocks
  
40,000
40,000

Debtors: amounts falling due within one year
 6 
143,011
150,312

Cash at bank and in hand
 7 
26,299
1,118

  
209,310
191,430

Creditors: amounts falling due within one year
 8 
(73,718)
(45,152)

Net current assets
  
 
 
135,592
 
 
146,278

Total assets less current liabilities
  
145,894
161,272

Creditors: amounts falling due after more than one year
 9 
(24,667)
(34,667)

  

Net assets
  
121,227
126,605


Capital and reserves
  

Called up share capital 
  
200,000
200,000

Profit and loss account
  
(78,773)
(73,395)

  
121,227
126,605


Page 1

 
PARTI+ LIMITED
REGISTERED NUMBER: 09749689
    
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 M Leahy
Director

Date: 28 November 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PARTI+ 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 (No. 09749689). The registered office address is 49 Thornhill Road, London, N1 1JS.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of architecture planning and design.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

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

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

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

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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:

Office equipment
-
25%
Straight Line

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

Page 5

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

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

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
Page 6

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

2.Accounting policies (continued)


2.16
Financial instruments (continued)

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 8 (2022 - 8).


4.


Intangible assets




Computer software

£



Cost


At 1 March 2022
8,980



At 28 February 2023

8,980



Amortisation


At 1 March 2022
3,592


Charge for the year on owned assets
1,796



At 28 February 2023

5,388



Net book value



At 28 February 2023
3,592



At 28 February 2022
5,388



Page 7

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

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 March 2022
25,510



At 28 February 2023

25,510



Depreciation


At 1 March 2022
15,903


Charge for the year on owned assets
2,897



At 28 February 2023

18,800



Net book value



At 28 February 2023
6,710



At 28 February 2022
9,606

Page 8

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

6.


Debtors

2023
2022
£
£


Trade debtors
3,600
14,610

Other debtors
5,000
5,000

Called up share capital not paid
100,000
100,000

Prepayments and accrued income
4,933
3,017

Deferred taxation
29,478
27,685

143,011
150,312



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
26,299
1,118

26,299
1,118



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,667
8,667

Trade creditors
1,277
110

Other taxation and social security
18,447
12,127

Other creditors
41,727
20,398

Accruals and deferred income
3,600
3,850

73,718
45,152



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
24,667
34,667

24,667
34,667


Page 9

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

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,667
8,667

Amounts falling due 1-2 years

Bank loans
8,667
8,667

Amounts falling due 2-5 years

Bank loans
16,000
26,000


33,334
43,334



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
26,299
20,638

Financial assets measured at amortised cost
108,600
119,610

134,899
140,248


Financial liabilities


Financial liabilities measured at amortised cost
75,534
67,692


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


Financial assets measured at amortised cost comprise of trade and other debtors.


Financial liabilities measured at amortised cost comprise of bank loans, trade creditors and accruals.

Page 10

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

12.


Deferred taxation




2023
2022


£

£






At beginning of year
27,685
10,445


Charged to profit or loss
1,793
17,240



At end of year
29,478
27,685

The deferred tax asset is made up as follows:

2023
2022
£
£


Fixed asset differences
(1,678)
(2,402)

Short term timing differences
941
78

Losses carried forward
30,215
30,009

29,478
27,685


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are heldseparately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,451           (2022: £4,024). Contributions totalling £2,696 (2022: £1,166) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

IIncluded in other debtors is an amount of £5,000 (2022: £5,000) owed from Parti Projects Limited, a connected company, the loan is repayable on demand and no interest has been charged. 
Included in other creditors is an amount of £24,542 (2022: £19,442) owed to the directors. The loan is repayable on demand and no interest has been charged.


15.


Controlling party

The ultimate controlling party of the company is Thomas Leahy.

 
Page 11