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REGISTERED NUMBER: 11204459 (England and Wales)













Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Partners Estates Limited

Partners Estates Limited (Registered number: 11204459)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Partners Estates Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: P A Eklid





REGISTERED OFFICE: 130 Old Street
London
EC1V 9BD





REGISTERED NUMBER: 11204459 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Partners Estates Limited (Registered number: 11204459)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 880 1,718
Investments 5 1 1
Investment property 6 339,500 187,500
340,381 189,219

CURRENT ASSETS
Debtors 7 25,232 24,323
Cash at bank 34,679 88,206
59,911 112,529
CREDITORS
Amounts falling due within one year 8 110,137 115,374
NET CURRENT LIABILITIES (50,226 ) (2,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,155

186,374

CREDITORS
Amounts falling due after more than one
year

9

(230,342

)

(162,271

)

PROVISIONS FOR LIABILITIES (14,461 ) (6,332 )
NET ASSETS 45,352 17,771

CAPITAL AND RESERVES
Called up share capital 11 1 1
Fair value reserve 12 61,648 26,994
Retained earnings (16,297 ) (9,224 )
SHAREHOLDERS' FUNDS 45,352 17,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

Partners Estates Limited (Registered number: 11204459)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





P A Eklid - Director


Partners Estates Limited (Registered number: 11204459)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Partners Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years stated unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about Partners Estates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rental income receivable in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Partners Estates Limited (Registered number: 11204459)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022
and 28 February 2023 4,933
DEPRECIATION
At 1 March 2022 3,215
Charge for year 838
At 28 February 2023 4,053
NET BOOK VALUE
At 28 February 2023 880
At 28 February 2022 1,718

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

Partners Estates Limited (Registered number: 11204459)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 187,500
Additions 109,217
Fair value adjustment 42,783
At 28 February 2023 339,500
NET BOOK VALUE
At 28 February 2023 339,500
At 28 February 2022 187,500

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2019 11,326
Valuation in 2021 23,700
Valuation in 2022 (1,700 )
Valuation in 2023 42,783
Cost 263,391
339,500

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 263,391 154,174

The investment properties were valued at fair value by P Eklid, the director. Whilst the director is not a professionally qualified valuer, he has a longstanding involvement in the local property market. The valuation of the property is assessed using his overall knowledge of the properties and its condition combined with the appropriate industry rental yield multiples and by comparison with similar properties in the local area. The property values included are also in line with recent valuations done for mortgage purposes.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 8,115 18,023
Other debtors 17,117 6,300
25,232 24,323

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,350 3,350
Taxation and social security - 1,370
Other creditors 106,787 110,654
110,137 115,374

Partners Estates Limited (Registered number: 11204459)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 7,537 10,888
Other creditors 222,805 151,383
230,342 162,271

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 222,805 119,530

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Fair
value
reserve
£   
At 1 March 2022 26,994
Gain/Loss on fair value
adjustment 42,783
Deferred tax on FV adjustment (8,129 )

At 28 February 2023 61,648