Registered number
05200791
Parliament Court RTM Limited
Filleted Accounts
31 August 2023
Parliament Court RTM Limited
Registered number: 05200791
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,636 2,929
Current assets
Debtors 4 463 1,582
Cash at bank and in hand 9,599 9,648
10,062 11,230
Creditors: amounts falling due within one year 5 (3,457) (3,743)
Net current assets 6,605 7,487
Net assets 9,241 10,416
Capital and reserves
Profit and loss account 9,241 10,416
Shareholders' funds 9,241 10,416
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Paul Colville-Nash
Director
Approved by the board on 13 February 2024
Parliament Court RTM Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 10% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 6,135
At 31 August 2023 6,135
Depreciation
At 1 September 2022 3,206
Charge for the year 293
At 31 August 2023 3,499
Net book value
At 31 August 2023 2,636
At 31 August 2022 2,929
4 Debtors 2023 2022
£ £
Trade debtors 106 1,197
Other debtors 357 385
463 1,582
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 900 1,202
Taxation and social security costs 889 889
Other creditors 1,668 1,652
3,457 3,743
6 Other information
Parliament Court RTM Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Flat 2
1 Parliament Court
London
E1 7NA
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