Professionals In Partnership Ltd,Ltd - AccountsLtd - Accounts

Professionals In Partnership Ltd,Ltd - AccountsLtd - Accounts

PROFESSIONALS IN PARTNERSHIP LTD - Company Information

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2020-03-01 10004126 2021-02-28 10004126 2020-03-01 2021-02-28 10004126 2020-02-29 10004126 2019-03-01 2020-02-29 10004126 uk-core:WithinOneYear 2020-02-29 10004126 uk-core:WithinOneYear 2021-02-28 10004126 uk-core:ShareCapital 2021-02-28 10004126 uk-core:ShareCapital 2020-02-29 10004126 uk-core:RetainedEarningsAccumulatedLosses 2021-02-28 10004126 uk-core:RetainedEarningsAccumulatedLosses 2020-02-29 10004126 uk-bus:Director1 2020-03-01 2021-02-28 10004126 uk-core:ComputerEquipment 2020-03-01 2021-02-28 iso4217:GBP xbrli:pure 10004126 uk-bus:AuditExemptWithAccountantsReport 2020-03-01 2021-02-28 10004126 uk-bus:FRS102 2020-03-01 2021-02-28 10004126 uk-bus:FullAccounts 2020-03-01 2021-02-28 10004126 uk-bus:PrivateLimitedCompanyLtd 2020-03-01 2021-02-28
Professionals In Partnership Ltd
Registered Number:10004126
For the year ended 28 February 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2021
Professionals In Partnership Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
10004126
As at 28 February 2021
Professionals In Partnership Ltd
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
287
405
2
287
405
Current assets
Trade and other receivables
4,372
18,496
3
13,711
Cash and cash equivalents
5,059
23,555
18,083
Trade and other payables: amounts falling due within
one year
(14,709)
(23,839)
4
3,374
(284)
Net current liabilities
Total assets less current liabilities
3
3,779
3
Net assets
3,779
Capital and reserves
Called up share capital
2
2
Retained earnings
1
3,777
3
3,779
Shareholders' funds
For the year ended 28 February 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 profit or loss for each financial year in accordance with the requirements
of Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mrs Karen Anne Ferris Director
These financial statements were approved and authorised for issue by the Board on 13 July 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 28 February 2021
Professionals In Partnership Ltd
Notes to the Financial Statements
Statutory Information
Professionals In Partnership Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 10004126.
Registered address:
Suite B, The Courtyard
High Street
Hungerford
RG17 0NF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention
as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Straight line
Computer Equipment
2. Property, plant and equipment
Computer
Equipment
£
Cost or
valuation
At 01 March 2020
750
At 28 February 2021
750
Provision for depreciation and impairment
At 01 March 2020
345
Charge for year
118
At 28 February 2021
463
At 28 February 2021
Net book value
287
At 29 February 2020
405
2 of 3
5
For the year ended 28 February 2021
Professionals In Partnership Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2020
2021
£
£
Trade debtors
18,496
4,372
4. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Taxation and social security
7,624
9,294
Other creditors
16,215
5,415
23,839
14,709
5. Related party transactions
An interest free loan was made to the company by Karen Ferris. The amount due at the year end was £15,675
(2020 - £3,495).
6. Average number of persons employed
During the year the average number of employees was 2 (2020 : 1)
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