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REGISTERED NUMBER: 05115271 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

YOU FIRST PARTNERSHIP LIMITED

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YOU FIRST PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr J F Green
Mr C G Elliott





SECRETARY: Mr J F Green





REGISTERED OFFICE: 139 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 05115271 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,717 11,630
8,717 11,630

CURRENT ASSETS
Stocks 9,500 7,500
Debtors 6 46,000 58,633
Cash at bank 21,967 19,316
77,467 85,449
CREDITORS
Amounts falling due within one year 7 62,287 60,901
NET CURRENT ASSETS 15,180 24,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,897

36,178

CREDITORS
Amounts falling due after more than one
year

8

(21,705

)

(33,968

)

PROVISIONS FOR LIABILITIES (2,179 ) (2,209 )
NET ASSETS 13 1

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 11 (1 )
SHAREHOLDERS' FUNDS 13 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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 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.

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





Mr C G Elliott - Director


YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

You First Partnership 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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 value amount and are recognised in the Income Statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

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.

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 60,000
AMORTISATION
At 1 October 2022
and 30 September 2023 60,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 4,014 44,631 3,219 51,864
DEPRECIATION
At 1 October 2022 3,725 33,297 3,212 40,234
Charge for year 72 2,834 7 2,913
At 30 September 2023 3,797 36,131 3,219 43,147
NET BOOK VALUE
At 30 September 2023 217 8,500 - 8,717
At 30 September 2022 289 11,334 7 11,630

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022 38,632
Transfer to ownership (18,834 )
At 30 September 2023 19,798
DEPRECIATION
At 1 October 2022 27,898
Charge for year 1,566
Transfer to ownership (14,365 )
At 30 September 2023 15,099
NET BOOK VALUE
At 30 September 2023 4,699
At 30 September 2022 10,734

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,367 36,410
Other debtors 21,633 22,223
46,000 58,633

YOU FIRST PARTNERSHIP LIMITED (REGISTERED NUMBER: 05115271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,848 9,628
Hire purchase contracts 2,705 5,763
Trade creditors 9,211 12,242
Taxation and social security 38,460 31,302
Other creditors 2,063 1,966
62,287 60,901

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 21,705 31,656
Hire purchase contracts - 2,312
21,705 33,968

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mr J F Green
Balance outstanding at start of year 9,550 5,623
Amounts advanced 9,255 9,550
Amounts repaid (9,550 ) (5,623 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,255 9,550

Mr C G Elliott
Balance outstanding at start of year 12,673 8,752
Amounts advanced 12,378 12,673
Amounts repaid (12,673 ) (8,752 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,378 12,673

These loans were repaid 29 January 2024.