Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Architecture planning and design2023-03-01false98falsetruetrue 09749689 2023-03-01 2024-02-29 09749689 2022-03-01 2023-02-28 09749689 2024-02-29 09749689 2023-02-28 09749689 2022-03-01 09749689 c:Director1 2023-03-01 2024-02-29 09749689 d:OfficeEquipment 2023-03-01 2024-02-29 09749689 d:OfficeEquipment 2024-02-29 09749689 d:OfficeEquipment 2023-02-28 09749689 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09749689 d:ComputerSoftware 2024-02-29 09749689 d:ComputerSoftware 2023-02-28 09749689 d:CurrentFinancialInstruments 2024-02-29 09749689 d:CurrentFinancialInstruments 2023-02-28 09749689 d:Non-currentFinancialInstruments 2024-02-29 09749689 d:Non-currentFinancialInstruments 2023-02-28 09749689 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09749689 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09749689 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 09749689 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 09749689 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 09749689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 09749689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 09749689 d:ShareCapital 2024-02-29 09749689 d:ShareCapital 2023-02-28 09749689 d:RetainedEarningsAccumulatedLosses 2024-02-29 09749689 d:RetainedEarningsAccumulatedLosses 2023-02-28 09749689 c:FRS102 2023-03-01 2024-02-29 09749689 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09749689 c:FullAccounts 2023-03-01 2024-02-29 09749689 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09749689 2 2023-03-01 2024-02-29 09749689 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 09749689 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 09749689 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 09749689 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 09749689 d:RetirementBenefitObligationsDeferredTax 2024-02-29 09749689 d:RetirementBenefitObligationsDeferredTax 2023-02-28 09749689 d:ComputerSoftware d:OwnedIntangibleAssets 2023-03-01 2024-02-29 09749689 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number:  09749689














PARTI+ LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


 
PARTI+ LIMITED
REGISTERED NUMBER: 09749689

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,347
3,592

Tangible assets
 5 
3,813
6,709

  
5,160
10,301

Current assets
  

Stocks
  
30,000
40,000

Debtors: amounts falling due within one year
 6 
145,494
143,011

Cash at bank and in hand
 7 
42,023
26,299

  
217,517
209,310

Creditors: amounts falling due within one year
 8 
(77,184)
(73,718)

Net current assets
  
 
 
140,333
 
 
135,592

Total assets less current liabilities
  
145,493
145,893

Creditors: amounts falling due after more than one year
 9 
(15,134)
(24,666)

  

Net assets
  
130,359
121,227


Capital and reserves
  

Called up share capital 
  
200,000
200,000

Profit and loss account
  
(69,641)
(78,773)

  
130,359
121,227


Page 1

 
PARTI+ LIMITED
REGISTERED NUMBER: 09749689
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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: 21 November 2024

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 29 FEBRUARY 2024

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement 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

Interest income

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

 
2.4

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.

Page 3

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
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

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.

Page 4

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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 5

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

2024
£

Wages and salaries
210,995

Social security costs
14,268

Cost of defined contribution scheme
4,818

230,081


The average monthly number of employees, including directors, during the year was 9 (2023 - 8).

Page 6

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Computer software

£



Cost


At 1 March 2023
8,980



At 29 February 2024

8,980



Amortisation


At 1 March 2023
5,388


Charge for the year on owned assets
2,245



At 29 February 2024

7,633



Net book value



At 29 February 2024
1,347



At 28 February 2023
3,592



Page 7

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2023
25,510



At 29 February 2024

25,510



Depreciation


At 1 March 2023
18,800


Charge for the year on owned assets
2,897



At 29 February 2024

21,697



Net book value



At 29 February 2024
3,813



At 28 February 2023
6,709

Page 8

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
10,800
3,600

Other debtors
5,000
5,000

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

Prepayments and accrued income
5,145
4,933

Deferred taxation
24,549
29,478

145,494
143,011



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
42,023
26,299

42,023
26,299



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
8,666
8,667

Trade creditors
3,361
1,277

Other taxation and social security
25,217
18,447

Other creditors
37,940
41,727

Accruals and deferred income
2,000
3,600

77,184
73,718


Page 9

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
15,134
24,666

15,134
24,666



10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
8,666
8,667

Amounts falling due 1-2 years

Bank loans
8,666
8,667

Amounts falling due 2-5 years

Bank loans
6,468
16,000


23,800
33,334


Page 10

 
PARTI+ LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Deferred taxation






2024
2023


£

£






At beginning of year
29,478
27,685


Charged to profit or loss
(4,929)
1,793



At end of year
24,549
29,478

The deferred tax asset is made up as follows:

29 February
28 February
2024
2023
£
£


Fixed asset differences
(953)
(1,678)

Short term timing differences
1,282
941

Losses carried forward
24,220
30,215

24,549
29,478


12.


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 £4,818 (2023: £3,451). Contributions totalling £796 (2023: £2,696) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

IIncluded in other debtors is an amount of £5,000 (2023: £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 £23,594 (2023: £24,542) owed to the directors. The loan is repayable on demand and no interest has been charged.


14.


Controlling party

The ultimate controlling party of the company is Thomas Leahy.

 
Page 11