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COMPANY REGISTRATION NUMBER: 11241261
The Ardent Partnership Ltd
Filleted Unaudited Financial Statements
31 March 2023
The Ardent Partnership Ltd
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
The Ardent Partnership Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,985
697
Current assets
Stocks
37,202
15,750
Debtors
6
27,512
43,160
Cash at bank and in hand
40,254
9,752
---------
--------
104,968
68,662
Creditors: amounts falling due within one year
7
390,780
192,270
---------
---------
Net current liabilities
285,812
123,608
---------
---------
Total assets less current liabilities
( 283,827)
( 122,911)
Creditors: amounts falling due after more than one year
8
26,938
26,938
---------
---------
Net liabilities
( 310,765)
( 149,849)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 310,767)
( 149,851)
---------
---------
Shareholders deficit
( 310,765)
( 149,849)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Ardent Partnership Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 8 March 2024 , and are signed on behalf of the board by:
E Fitzgerald
Director
Company registration number: 11241261
The Ardent Partnership Ltd
Notes to the Financial Statements
Year ended 31 March 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditros 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 accountin other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate metho less impairment. If an arrangement constitute a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2022
749
Additions
1,865
-------
At 31 March 2023
2,614
-------
Depreciation
At 1 April 2022
52
Charge for the year
577
-------
At 31 March 2023
629
-------
Carrying amount
At 31 March 2023
1,985
-------
At 31 March 2022
697
-------
6. Debtors
2023
2022
£
£
Trade debtors
13,007
36,132
Other debtors
14,505
7,028
--------
--------
27,512
43,160
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,296
Trade creditors
28,782
23,590
Social security and other taxes
832
Other creditors
361,998
161,552
---------
---------
390,780
192,270
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
26,938
26,938
--------
--------
9. Director's advances, credits and guarantees
At the year end the company owed the director £330,743 (2022: £156,751).
10. Related party transactions
At the year end the company owed £26,938 (2022: £26,938) to a company under common directorship.