Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalse22023-01-01No description of principal activity2true 07100591 2023-01-01 2023-12-31 07100591 2022-01-01 2022-12-31 07100591 2023-12-31 07100591 2022-12-31 07100591 c:Director1 2023-01-01 2023-12-31 07100591 d:MotorVehicles 2023-01-01 2023-12-31 07100591 d:MotorVehicles 2023-12-31 07100591 d:MotorVehicles 2022-12-31 07100591 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07100591 d:FurnitureFittings 2023-01-01 2023-12-31 07100591 d:FurnitureFittings 2023-12-31 07100591 d:FurnitureFittings 2022-12-31 07100591 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07100591 d:OfficeEquipment 2023-01-01 2023-12-31 07100591 d:OfficeEquipment 2023-12-31 07100591 d:OfficeEquipment 2022-12-31 07100591 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07100591 d:ComputerEquipment 2023-01-01 2023-12-31 07100591 d:ComputerEquipment 2023-12-31 07100591 d:ComputerEquipment 2022-12-31 07100591 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07100591 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07100591 d:CurrentFinancialInstruments 2023-12-31 07100591 d:CurrentFinancialInstruments 2022-12-31 07100591 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07100591 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07100591 d:ShareCapital 2023-12-31 07100591 d:ShareCapital 2022-12-31 07100591 d:RetainedEarningsAccumulatedLosses 2023-12-31 07100591 d:RetainedEarningsAccumulatedLosses 2022-12-31 07100591 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07100591 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 07100591 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07100591 c:OrdinaryShareClass1 2023-12-31 07100591 c:OrdinaryShareClass1 2022-12-31 07100591 c:FRS102 2023-01-01 2023-12-31 07100591 c:Audited 2023-01-01 2023-12-31 07100591 c:FullAccounts 2023-01-01 2023-12-31 07100591 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07100591 d:WithinOneYear 2023-12-31 07100591 d:WithinOneYear 2022-12-31 07100591 d:BetweenOneFiveYears 2023-12-31 07100591 d:BetweenOneFiveYears 2022-12-31 07100591 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07100591 e:Netherlands 2023-01-01 2023-12-31 07100591 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07100591









PARTHOS UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PARTHOS UK LTD
REGISTERED NUMBER: 07100591

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,282
1,546

  
1,282
1,546

Current assets
  

Stocks
  
38,162
49,031

Debtors: amounts falling due within one year
 5 
283,375
150,331

Cash at bank and in hand
 6 
92,948
220,999

  
414,485
420,361

Creditors: amounts falling due within one year
 7 
(389,926)
(411,651)

Net current assets
  
 
 
24,559
 
 
8,710

Total assets less current liabilities
  
25,841
10,256

  

Net assets
  
25,841
10,256


Capital and reserves
  

Called up share capital 
 9 
25,000
25,000

Profit and loss account
  
841
(14,744)

  
25,841
10,256


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 on 6 September 2024.




E Van den Wildenberg
Director

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Parthos UK Ltd is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The company's registration number is 07100591. The company's registered office is 1 Quadrant, Howarth Road, Maidenhead, Berkshire, SL6 1AP.

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

Going concern

At the balance sheet date, the company had positive profit and loss reserves of £841 (2022: £14,744 negative). The company also had net assets of £25,841 at the year end date (2022: £10,256).
The company relies on continued support from its creditors. At the year end, the company owed £329,301 (2022: £368,426) to Parthos B.V., its parent company. The directors consider the likelihood of the loan being recalled is very low until Parthos UK Ltd has sufficient funds. Based on its results to date, the directors expect the company to be profitable again in the year ending 31 December 2024.  
As a result, the financial statements of this company have been prepared on the basis that the company is a going concern.

Page 2

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Motor vehicles
-
33%
straight-line
Fixtures and fittings
-
10%
straight-line
Office equipment
-
10%
straight-line
Computer 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.

 
2.9

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.

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes
Page 5

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Page 6

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

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


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
19,793
5,520
1,102
2,556
28,971



At 31 December 2023

19,793
5,520
1,102
2,556
28,971



Depreciation


At 1 January 2023
19,793
4,807
527
2,298
27,425


Charge for the year on owned assets
-
123
57
84
264



At 31 December 2023

19,793
4,930
584
2,382
27,689



Net book value



At 31 December 2023
-
590
518
174
1,282



At 31 December 2022
-
713
575
258
1,546

Page 7

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
268,302
95,393

Other debtors
4,492
43,057

Prepayments and accrued income
7,456
11,881

Deferred taxation
3,125
-

283,375
150,331



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
92,948
220,999

92,948
220,999



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,404
20,804

Amounts owed to group undertakings
329,301
368,426

Other taxation and social security
689
1,707

Other creditors
224
1,114

Accruals and deferred income
42,308
19,600

389,926
411,651



8.


Deferred taxation




2023


£






Charged to profit or loss
3,125



At end of year
3,125

Page 8

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
8.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2023
2022
£
£


Unutilised tax losses carried forward
3,125
-

3,125
-


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



25,000 (2022 - 25,000) Ordinary shares of £1.00 each
25,000
25,000



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately 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 £1,300 (2022: £1,080). Contributions totalling £224 (2022: £62) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
2,340
2,340

Later than 1 year and not later than 5 years
1,560
3,900

3,900
6,240


12.


Related party transactions

The company has taken advantage of the exemptions under FRS 102 from the requirement to disclose transactions with group companies on the grounds that all transactions have occurred with Parthos B.V., which wholly owns Parthos UK Ltd.

Page 9

 
PARTHOS UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Controlling party

Pathos UK Ltd is a 100% subsidiary undertaking of Pathos B.V., a company registered in The Netherlands.
The ultimate parent undertaking is Van den Wildenberg Beheer B.V., a company registered in The Netherlands. The ultimate controlling party is E Van den Wildenberg, director.
Group financial statements are prepared by Van den Wildenberg Beheer B.V. and copies can be obtained from Industrieterrein 25, P.O. Box 7044. 5981 NK Panningen, The Netherlands. This is the largest and smallest group for which consolidated financial statements are prepared.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 9 September 2024 by Jacqui Williams FCA (Senior statutory auditor) on behalf of Donald Reid Limited.

 
Page 10