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REGISTERED NUMBER: 04906228 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

The Letting Partnership Ltd

The Letting Partnership Ltd (Registered number: 04906228)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


The Letting Partnership Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J S Gledhill
C H Mason
R E Walrond





REGISTERED OFFICE: Suite B Second Floor
3 Liverpool Gardens
Worthing
West Sussex
BN11 1TF





REGISTERED NUMBER: 04906228 (England and Wales)





ACCOUNTANTS: THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Letting Partnership Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Letting Partnership Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Letting Partnership Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Letting Partnership Ltd and state those matters that we have agreed to state to the Board of Directors of The Letting Partnership Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Letting Partnership Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Letting Partnership Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Letting Partnership Ltd. You consider that The Letting Partnership Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Letting Partnership Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX


8 August 2024

The Letting Partnership Ltd (Registered number: 04906228)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 22,150
Tangible assets 5 58,050 54,109
58,050 76,259

CURRENT ASSETS
Debtors 6 118,660 95,706
Cash at bank 591,938 481,467
710,598 577,173
CREDITORS
Amounts falling due within one year 7 437,272 419,388
NET CURRENT ASSETS 273,326 157,785
TOTAL ASSETS LESS CURRENT
LIABILITIES

331,376

234,044

CREDITORS
Amounts falling due after more than one
year

8

(10,203

)

(18,365

)

PROVISIONS FOR LIABILITIES (6,129 ) (7,898 )
NET ASSETS 315,044 207,781

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 13,500 13,500
Retained earnings 300,544 193,281
315,044 207,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

The Letting Partnership Ltd (Registered number: 04906228)

Balance Sheet - continued
29 February 2024


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 8 August 2024 and were signed on its behalf by:





J S Gledhill - Director


The Letting Partnership Ltd (Registered number: 04906228)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

The Letting Partnership Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over ist estimated useful life.

Fixtures & Fittings - 25% on cost
Motor Vehicles - 25% reducing balance
Computer Equipment - 25% 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The Letting Partnership Ltd (Registered number: 04906228)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Developm
costs
£   
COST
At 1 March 2023
and 29 February 2024 221,528
AMORTISATION
At 1 March 2023 199,378
Amortisation for year 22,150
At 29 February 2024 221,528
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 22,150

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 29,251 59,584 98,562 187,397
Additions 14,606 - 18,408 33,014
Disposals - (17,000 ) - (17,000 )
At 29 February 2024 43,857 42,584 116,970 203,411
DEPRECIATION
At 1 March 2023 19,659 23,667 89,962 133,288
Charge for year 6,572 8,979 6,545 22,096
Eliminated on disposal - (10,023 ) - (10,023 )
At 29 February 2024 26,231 22,623 96,507 145,361
NET BOOK VALUE
At 29 February 2024 17,626 19,961 20,463 58,050
At 28 February 2023 9,592 35,917 8,600 54,109

The Letting Partnership Ltd (Registered number: 04906228)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 42,584
DEPRECIATION
At 1 March 2023 15,969
Charge for year 6,654
At 29 February 2024 22,623
NET BOOK VALUE
At 29 February 2024 19,961
At 28 February 2023 26,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,052 1,518
Other debtors 113,608 94,188
118,660 95,706

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 8,162 8,162
Trade creditors 17,765 10,354
Taxation and social security 137,326 98,975
Other creditors 274,019 301,897
437,272 419,388

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 10,203 18,365

The Letting Partnership Ltd (Registered number: 04906228)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,162 8,162
Between one and five years 10,203 18,365
18,365 26,527

Non-cancellable operating leases
2024 2023
£    £   
Within one year 52,000 21,500
Between one and five years 186,500 86,000
In more than five years 122,000 -
360,500 107,500