REGISTERED NUMBER:
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Parthian Books Ltd |
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31st March 2021 |
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REGISTERED NUMBER:
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Parthian Books Ltd |
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31st March 2021 |
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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 2021 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Directors' Responsibilities Statement | 3 |
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Independent Chartered Accountants' Review Report | 4 |
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Profit and loss | 5 |
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Balance Sheet | 6 |
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Notes to the Financial Statements | 7 |
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Parthian Books Ltd |
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Company Information |
for the Year Ended 31st March 2021 |
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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 |
Parthian Books Ltd (Registered number: 03194178) |
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Report of the Directors |
for the Year Ended 31st March 2021 |
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The directors present their report with the financial statements of the company for the year ended 31st March 2021. |
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Principal activity |
The principal activity of the company in the year under review was that of publishing new Welsh writing. |
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Directors |
The directors shown below have held office during the whole of the period from 1st April 2020 to the date of this report. |
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Other changes in directors holding office are as follows: |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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On behalf of the board: |
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Directors' Responsibilities Statement |
on the Unaudited Financial Statements of |
Parthian Books Ltd |
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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 2021 and of its surplus 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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10th December 2021 |
Independent Chartered Accountants' Review Report to the Directors of |
Parthian Books Ltd |
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We have reviewed the financial statements of Parthian Books Ltd for the year ended 31st March 2021, 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 2021 and of its surplus 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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Profit and loss |
for the Year Ended 31st March 2021 |
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2021 | 2020 |
Notes | £ | £ |
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Turnover |
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Administrative expenses | ( |
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(7,702 | ) | (16,625 | ) |
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Other operating income |
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Operating surplus/(deficit) |
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Interest receivable and similar income |
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Surplus/(deficit) before taxation | 4 |
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Tax on surplus/(deficit) | ( |
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Surplus/(deficit) for the financial year |
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Parthian Books Ltd (Registered number: 03194178) |
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Balance Sheet |
31st March 2021 |
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2021 | 2020 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 5 |
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Current assets |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 8 | ( |
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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 |
9 |
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Net assets |
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Reserves |
Income and expenditure account | 10 |
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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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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 2021 |
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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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Government grants |
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. |
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Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
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Other government grants relate to income receivable in relation to UK government COVID-19 job retention scheme and the Welsh government's economic reliance fund. Grants are recognised in the period in which they becomes receivable. |
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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. | Surplus/(deficit) before taxation |
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The surplus (2020 - deficit) is stated after charging: |
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2021 | 2020 |
£ | £ |
Depreciation - owned assets |
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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 2021 |
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5. | Tangible fixed assets |
Computer |
equipment |
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Cost |
At 1st April 2020 |
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Additions |
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At 31st March 2021 |
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Depreciation |
At 1st April 2020 |
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Charge for year |
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At 31st March 2021 |
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Net book value |
At 31st March 2021 |
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At 31st March 2020 |
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6. | Stocks |
2021 | 2020 |
£ | £ |
Stocks |
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7. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Tax |
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VAT |
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8. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
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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9. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
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 | - |
Parthian Books Ltd (Registered number: 03194178) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2021 |
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10. | Reserves |
Income |
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expenditure |
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£ |
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At 1st April 2020 |
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Surplus for the year |
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At 31st March 2021 |
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11. | 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. |