Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01falseNo description of principal activity1111truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03220364 2022-09-01 2023-08-31 03220364 2021-09-01 2022-08-31 03220364 2023-08-31 03220364 2022-08-31 03220364 c:CompanySecretary1 2022-09-01 2023-08-31 03220364 c:Director2 2022-09-01 2023-08-31 03220364 c:Director3 2022-09-01 2023-08-31 03220364 c:Director4 2022-09-01 2023-08-31 03220364 c:Director5 2022-09-01 2023-08-31 03220364 c:RegisteredOffice 2022-09-01 2023-08-31 03220364 c:Agent1 2022-09-01 2023-08-31 03220364 d:MotorVehicles 2022-09-01 2023-08-31 03220364 d:MotorVehicles 2023-08-31 03220364 d:MotorVehicles 2022-08-31 03220364 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 03220364 d:FurnitureFittings 2022-09-01 2023-08-31 03220364 d:FurnitureFittings 2023-08-31 03220364 d:FurnitureFittings 2022-08-31 03220364 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 03220364 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 03220364 d:CurrentFinancialInstruments 2023-08-31 03220364 d:CurrentFinancialInstruments 2022-08-31 03220364 d:Non-currentFinancialInstruments 2023-08-31 03220364 d:Non-currentFinancialInstruments 2022-08-31 03220364 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 03220364 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 03220364 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 03220364 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 03220364 d:ShareCapital 2023-08-31 03220364 d:ShareCapital 2022-08-31 03220364 d:SharePremium 2023-08-31 03220364 d:SharePremium 2022-08-31 03220364 d:CapitalRedemptionReserve 2023-08-31 03220364 d:CapitalRedemptionReserve 2022-08-31 03220364 d:RetainedEarningsAccumulatedLosses 2023-08-31 03220364 d:RetainedEarningsAccumulatedLosses 2022-08-31 03220364 c:FRS102 2022-09-01 2023-08-31 03220364 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 03220364 c:FullAccounts 2022-09-01 2023-08-31 03220364 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Company registration number: 03220364







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023


FRANCIS PEARCE PARTNERSHIP LIMITED






































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FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
COMPANY INFORMATION


Directors
S R Knowles 
G R Hill 
J P Heath 
V J Rolandi 




Company secretary
S R Knowles



Registered number
03220364



Registered office
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
National Westminster Bank Plc
12 High Street

Southampton

SO14 2BF





 


FRANCIS PEARCE PARTNERSHIP LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


FRANCIS PEARCE PARTNERSHIP LIMITED
REGISTERED NUMBER:03220364



STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
208,448
277,067

  
208,448
277,067

Current assets
  

Stocks
  
870,000
826,000

Debtors: amounts falling due within one year
 5 
330,238
180,892

Cash at bank and in hand
  
307,792
183,364

  
1,508,030
1,190,256

Creditors: amounts falling due within one year
 6 
(370,811)
(296,925)

Net current assets
  
 
 
1,137,219
 
 
893,331

Total assets less current liabilities
  
1,345,667
1,170,398

Creditors: amounts falling due after more than one year
 7 
(33,836)
(89,405)

Provisions for liabilities
  

Deferred tax
  
(2,429)
(10,224)

  
 
 
(2,429)
 
 
(10,224)

Net assets
  
1,309,402
1,070,769

Page 1

 


FRANCIS PEARCE PARTNERSHIP LIMITED
REGISTERED NUMBER:03220364


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
26
26

Share premium account
  
3,998
3,998

Capital redemption reserve
  
24
24

Profit and loss account
  
1,305,354
1,066,721

  
1,309,402
1,070,769


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






S R Knowles
Director

Date: 13 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Francis Pearce Partnership Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.  
The company's trading address is 21-23 East Street, Fareham, Hampshire, PO16 0BZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 


FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance

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 amount and are recognised in profit or loss.

Page 4

 


FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).

Page 5

 


FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 September 2022
287,879
138,628
426,507



At 31 August 2023

287,879
138,628
426,507



Depreciation


At 1 September 2022
23,803
125,638
149,441


Charge for the year on owned assets
66,020
2,598
68,618



At 31 August 2023

89,823
128,236
218,059



Net book value



At 31 August 2023
198,056
10,392
208,448



At 31 August 2022
264,077
12,990
277,067

Page 6

 


FRANCIS PEARCE PARTNERSHIP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
284,597
172,916

Other debtors
3,874
3,177

Prepayments and accrued income
41,767
4,799

330,238
180,892



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
55,120
4,656

Corporation tax
130,039
100,810

Other taxation and social security
110,656
79,101

Obligations under finance lease and hire purchase contracts
55,570
54,606

Other creditors
8,798
45,034

Accruals and deferred income
10,628
12,718

370,811
296,925



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
33,836
89,405

33,836
89,405



8.


Transactions with directors

At the year end, included within debtors falling due under one year were amounts due to the company from a director amounting to £694 (2022 - owed to director £12,377). No interest is charged on the loan balance which is repayable on demand.

 
Page 7