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REGISTERED NUMBER: 00952508 (England and Wales)















PARTRIDGE MUIR & WARREN LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARTRIDGE MUIR & WARREN LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: S Lewis
K Banham





SECRETARY: K Banham





REGISTERED OFFICE: Aissela
46 High Street
Esher
Surrey
KT10 9QY





REGISTERED NUMBER: 00952508 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,511 103,992

CURRENT ASSETS
Debtors 5 1,608,254 1,613,296
Investments 6 111,506 98,142
Cash at bank and in hand 1,350,534 1,351,500
3,070,294 3,062,938
CREDITORS
Amounts falling due within one year 7 909,151 881,045
NET CURRENT ASSETS 2,161,143 2,181,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,232,654

2,285,885

PROVISIONS FOR LIABILITIES 17,061 19,002
NET ASSETS 2,215,593 2,266,883

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 8 2,195,593 2,246,883
SHAREHOLDERS' FUNDS 2,215,593 2,266,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Balance Sheet - continued
31 December 2023


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

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 6 August 2024 and were signed on its behalf by:





S Lewis - Director


PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Partridge Muir & Warren Limited is a private company limited by shares, incorporated and domiciled in England and Wales, registration number 00952508. The registered office is Aissela, 46 High Street, Esher, Surrey, KT10 9QY

2. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings -10% on cost
Motor vehicles -16.33% on reducing balance
Computer equipment -25%, 33% or 50% on 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.

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

INVESTMENTS
Investments are held at market value at the end of the accounting period with the movement in market value being recognised in the profit and loss account.

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial Liabilities

Basic financial liabilities, including trade and other payables, loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 152,234 136,700 255,669 544,603
Additions - - 1,599 1,599
At 31 December 2023 152,234 136,700 257,268 546,202
DEPRECIATION
At 1 January 2023 124,784 76,322 239,505 440,611
Charge for year 16,211 9,860 8,009 34,080
At 31 December 2023 140,995 86,182 247,514 474,691
NET BOOK VALUE
At 31 December 2023 11,239 50,518 9,754 71,511
At 31 December 2022 27,450 60,378 16,164 103,992

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 136,700
Reclassification/transfer (136,700 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 76,322
Reclassification/transfer (76,322 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 60,378

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,006 15,220
Amounts owed by group undertakings 1,477,946 1,477,946
Amounts owed by associates 10,532 10,532
Other debtors 97,770 109,598
1,608,254 1,613,296

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 111,506 98,142

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,748 40,019
Amounts owed to group undertakings 549,071 549,071
Taxation and social security 278,739 227,964
Other creditors 67,593 63,991
909,151 881,045

8. RESERVES
Retained
earnings
£   

At 1 January 2023 2,246,883
Profit for the year 748,710
Dividends (800,000 )
At 31 December 2023 2,195,593

PARTRIDGE MUIR & WARREN LIMITED (REGISTERED NUMBER: 00952508)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. RELATED PARTY DISCLOSURES

During the year dividends totalling £800,000 (2022: £1,000,000) were paid to Welmarsden Limited, the company's immediate parent company.

During the year salary costs of £112,281 (2022: £82,882) were recharged to PMW Legal Limited, an associated company.

As at 31st December 2023 the company was owed £1,477,946 (2022: £1,477,946) by Partridge Muir & Warren Holdings Limited. In addition the company owed £549,071 (2022: £549,071) to Welmarsden Limited. Each of these companies are members of the same group.

As at 31st December 2023 the company was owed £10,532 (2022: £10,532) by PMW Legal Limited, an associated company.