REGISTERED NUMBER: |
THE PARTNERSHIP INVESTMENT FUND LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
REGISTERED NUMBER: |
THE PARTNERSHIP INVESTMENT FUND LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
THE PARTNERSHIP INVESTMENT FUND LIMITED (REGISTERED NUMBER: 05081924) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE PARTNERSHIP INVESTMENT FUND LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
THE PARTNERSHIP INVESTMENT FUND LIMITED (REGISTERED NUMBER: 05081924) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account | 6 |
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 surplus or deficit 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. |
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 |
THE PARTNERSHIP INVESTMENT FUND LIMITED (REGISTERED NUMBER: 05081924) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
The Partnership Investment Fund Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on a going concern basis. This is considered appropriate by the directors following the preparation and review of cash flow forecasts. The Company has sufficient reserves to meet its likely costs for the foreseeable future and so the directors are not aware of any reason why the financial statements should not be prepared on the going concern basis. |
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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at market rate, the financial asset or liability is measured, initially, at present value of the future cash flow discounted at a market rate of interest for similar debt instruments and subsequently at amortised cost. |
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. |
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. |
THE PARTNERSHIP INVESTMENT FUND LIMITED (REGISTERED NUMBER: 05081924) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Interim |
Fund | PIF (non |
shares & | legacy |
loans | shares) | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 | 92,350 | 114,514 |
PROVISIONS |
At 1 April 2023 |
and 31 March 2024 | 92,350 | 22,164 | 114,514 |
NET BOOK VALUE |
At 31 March 2024 | - | - |
At 31 March 2023 | - | - |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes | ( |
) |
Accruals and deferred income |
6. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1 April 2023 |
Surplus for the year |
At 31 March 2024 |