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Registration number: 07382911

Partridge Ventilation Service and Maintenance Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Partridge Ventilation Service and Maintenance Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

Partridge Ventilation Service and Maintenance Limited

Company Information

Directors

Mr RC Partridge

Mrs VL Partridge

Registered office

Partridge Ventilation
Stanley Way
Cardrew Industrial Estate
Redruth
Cornwall
TR15 1SH

 

Partridge Ventilation Service and Maintenance Limited

Directors' Report for the Year Ended 30 September 2023

The directors present their report and the financial statements for the year ended 30 September 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr RC Partridge

Mrs VL Partridge

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 21 February 2024 and signed on its behalf by:


Mr RC Partridge
Director


Mrs VL Partridge
Director

 

Partridge Ventilation Service and Maintenance Limited

(Registration number: 07382911)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

98,352

80,801

Current assets

 

Stocks

5

123,262

3,400

Debtors

6

247,152

333,641

Cash at bank and in hand

 

88,678

71,928

 

459,092

408,969

Creditors: Amounts falling due within one year

7

(159,460)

(142,362)

Net current assets

 

299,632

266,607

Total assets less current liabilities

 

397,984

347,408

Provisions for liabilities

(10,879)

(15,352)

Net assets

 

387,105

332,056

Capital and reserves

 

Called up share capital

100

100

Retained earnings

387,005

331,956

Shareholders' funds

 

387,105

332,056

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Partridge Ventilation Service and Maintenance Limited

(Registration number: 07382911)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 

Mr RC Partridge

Director

Mrs VL Partridge

Director

 

Partridge Ventilation Service and Maintenance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Partridge Ventilation
Stanley Way
Cardrew Industrial Estate
Redruth
Cornwall
TR15 1SH
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Partridge Ventilation Service and Maintenance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Office furniture and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Partridge Ventilation Service and Maintenance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 10).

 

Partridge Ventilation Service and Maintenance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

6,381

40,831

94,200

141,412

Additions

-

-

69,328

69,328

Disposals

(3,041)

(1,962)

(48,750)

(53,753)

At 30 September 2023

3,340

38,869

114,778

156,987

Depreciation

At 1 October 2022

4,708

30,055

25,848

60,611

Charge for the year

138

1,826

12,203

14,167

Eliminated on disposal

(2,284)

(1,671)

(12,188)

(16,143)

At 30 September 2023

2,562

30,210

25,863

58,635

Carrying amount

At 30 September 2023

778

8,659

88,915

98,352

At 30 September 2022

1,673

10,776

68,352

80,801

5

Stocks

2023
£

2022
£

Work in progress

99,909

-

Other inventories

23,353

3,400

123,262

3,400

6

Debtors

Current

2023
£

2022
£

Trade debtors

186,255

221,006

Prepayments

2,168

1,502

Other debtors

58,729

111,133

 

247,152

333,641

 

Partridge Ventilation Service and Maintenance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

47,413

77,880

Taxation and social security

88,959

51,103

Accruals and deferred income

18,692

5,400

Other creditors

4,396

7,979

159,460

142,362

8

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mrs VL Partridge

Directors current account

26,848

644

(27,276)

215

         
       

Mr RC Partridge

Directors current account

26,848

644

(27,276)

215

         
       

 

2022

At 1 October 2021
£

Advances to director
£

At 30 September 2022
£

Mrs VL Partridge

Directors current account

-

26,848

26,848

       
     

Mr RC Partridge

Directors current account

-

26,848

26,848