REGISTERED NUMBER:
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Parthian Books Ltd |
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Unaudited Financial Statements for the Year Ended 31st March 2022 |
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REGISTERED NUMBER:
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Parthian Books Ltd |
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Unaudited Financial Statements for the Year Ended 31st March 2022 |
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Parthian Books Ltd (Registered number: 03194178) |
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Contents of the Financial Statements |
for the Year Ended 31st March 2022 |
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Company Information | 1 |
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Directors' Responsibilities Statement | 2 |
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Independent Chartered Accountants' Review Report | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Parthian Books Ltd |
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Company Information |
for the Year Ended 31st March 2022 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
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Bankers: |
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4 High Street |
Cardigan |
SA42 1HF |
Directors' Responsibilities Statement |
on the Unaudited Financial Statements of |
Parthian Books Ltd |
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The following reproduces the text of the report prepared for the directors and members in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
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- | ensure that the company has kept proper accounting records; |
- | prepare financial statements which give a true and fair view of the state of affairs of the company as at 31st March 2022 and of its deficit for that period in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements. |
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ON BEHALF OF THE BOARD: |
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2nd December 2022 |
Independent Chartered Accountants' Review Report to the Directors of |
Parthian Books Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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We have reviewed the financial statements of Parthian Books Ltd for the year ended 31st March 2022, which comprise the Profit and loss, Balance Sheet and the related notes 1 to 11. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
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Directors' responsibility for the financial statements |
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. |
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Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics. |
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Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements. |
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Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
- | so as to give a true and fair view of the state of the company's affairs as at 31st March 2022 and of its deficit for the year then ended; |
- | in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | in accordance with the requirements of the Companies Act 2006. |
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7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
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Parthian Books Ltd (Registered number: 03194178) |
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Balance Sheet |
31st March 2022 |
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2022 | 2021 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 | ( |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
8 |
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Net assets |
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Reserves |
Income and expenditure account | 9 |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Parthian Books Ltd (Registered number: 03194178) |
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Notes to the Financial Statements |
for the Year Ended 31st March 2022 |
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1. | Statutory information |
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Parthian Books Ltd is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, in making their assessment to the COVID-19 pandemic. The Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statement. |
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Turnover |
Turnover represents amounts chargeable, net of value added tax, in respect of the books sold and grants received in the year. |
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Tangible fixed assets |
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Computer equipment | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. |
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Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with bank, other short term liquid investments with original maturities of three months or less. |
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Debtors and creditors |
Debtors and creditors with no stated interest rate and receivable rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1st April 2021 |
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Disposals | ( |
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At 31st March 2022 |
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Depreciation |
At 1st April 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st March 2022 |
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Net book value |
At 31st March 2022 |
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At 31st March 2021 |
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Parthian Books Ltd (Registered number: 03194178) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2022 |
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5. | Stocks |
2022 | 2021 |
£ | £ |
Stocks |
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6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
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Tax |
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VAT |
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7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Accrued expenses |
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Deferred Income |
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8. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 3,000 |
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9. | Reserves |
Income |
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expenditure |
account |
£ |
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At 1st April 2021 |
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Deficit for the year | ( |
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At 31st March 2022 |
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10. | Company status |
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The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. |