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COMPANY REGISTRATION NUMBER: 06908950
Longwater Partners Limited
Filleted Unaudited Financial Statements
31 May 2023
Longwater Partners Limited
Financial Statements
Year ended 31 May 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Longwater Partners Limited
Officers and Professional Advisers
The board of directors
H Eddis
S Gill
J Walker
Registered office
6a Poland Street
London
W1F 8PT
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Longwater Partners Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Longwater Partners Limited
Year ended 31 May 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Longwater Partners Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,343
915
Current assets
Debtors
6
89,639
164,958
Cash at bank and in hand
51,252
32,995
---------
---------
140,891
197,953
Creditors: amounts falling due within one year
7
88,373
110,131
---------
---------
Net current assets
52,518
87,822
--------
--------
Total assets less current liabilities
54,861
88,737
--------
--------
Net assets
54,861
88,737
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
54,851
88,727
--------
--------
Shareholders funds
54,861
88,737
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Longwater Partners Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
H Eddis
Director
Company registration number: 06908950
Longwater Partners Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6a Poland Street, London, W1F 8PT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Equipment
-
33% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2022
10,354
10,354
Additions
2,524
2,524
-------
--------
--------
At 31 May 2023
2,524
10,354
12,878
-------
--------
--------
Depreciation
At 1 June 2022
9,439
9,439
Charge for the year
505
591
1,096
-------
--------
--------
At 31 May 2023
505
10,030
10,535
-------
--------
--------
Carrying amount
At 31 May 2023
2,019
324
2,343
-------
--------
--------
At 31 May 2022
915
915
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
54,000
113,500
Other debtors
35,639
51,458
--------
---------
89,639
164,958
--------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
24,219
29,511
Corporation tax
47,751
66,256
Social security and other taxes
14,810
9,555
Other creditors
1,593
4,809
--------
---------
88,373
110,131
--------
---------