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REGISTERED NUMBER: 03012761 (England and Wales)















PARTLINE LIMITED

Unaudited Financial Statements

for the Year Ended 30 June 2024






PARTLINE LIMITED (Registered number: 03012761)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Directors' Responsibilities Statement 9

Independent Chartered Certified Accountants' Review
Report

10


PARTLINE LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: W H Clark Snr
W H Clark Jnr
R H Clark





SECRETARY: W H Clark Jnr





REGISTERED OFFICE: Partline Limited
Dockfield Road
Shipley
West Yorkshire
BD17 7AZ





REGISTERED NUMBER: 03012761 (England and Wales)





ACCOUNTANTS: Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ

PARTLINE LIMITED (Registered number: 03012761)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,198,484 1,405,540
1,198,484 1,405,540

CURRENT ASSETS
Stocks 1,132,661 1,307,783
Debtors 6 2,006,488 1,708,523
Cash at bank and in hand 217,808 6,794
3,356,957 3,023,100
CREDITORS
Amounts falling due within one year 7 1,931,739 1,767,707
NET CURRENT ASSETS 1,425,218 1,255,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,623,702

2,660,933

CREDITORS
Amounts falling due after more than one
year

8

(232,297

)

(391,359

)

PROVISIONS FOR LIABILITIES (162,164 ) (123,914 )

ACCRUALS AND DEFERRED INCOME (7,290 ) (11,634 )
NET ASSETS 2,221,951 2,134,026

CAPITAL AND RESERVES
Called up share capital 90,000 90,000
Capital redemption reserve 10,000 10,000
Retained earnings 2,121,951 2,034,026
SHAREHOLDERS' FUNDS 2,221,951 2,134,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

PARTLINE LIMITED (Registered number: 03012761)

Balance Sheet - continued
30 June 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 28 August 2024 and were signed on its behalf by:




W H Clark Jnr - Director



R H Clark - Director


PARTLINE LIMITED (Registered number: 03012761)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

PARTLINE LIMITED 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 Section 1A- ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

The directors have considered the ongoing situation with regard to Covid-19 as part of their going concern assessment.The view of the directors is that, while they acknowledge the significant disruption that the pandemic has previously brought, the directors feel that the company is well placed to continue to negotiate the unique set of circumstances facing the U K economy.

The company's current level of cash is positive and the company's post year end performance is in line with the budgets prepared, which show that the company will continue to be profitable and have sufficient cash resources in the foreseeable future.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

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

Website design
Costs associated with the development of a website are capitalised as they are incurred, and are amortised in equal monthly instalments over the next five years.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


PARTLINE LIMITED (Registered number: 03012761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for certain employees, and a statutory workplace pension scheme for all qualifying employees. Contributions payable to these pensions schemes are charged to profit and loss in the period to which they relate.

Deferred government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets.

Grants of a revenue nature are credited to income in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 40 ) .

PARTLINE LIMITED (Registered number: 03012761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Website
design
£   
COST
At 1 July 2023
and 30 June 2024 2,400
AMORTISATION
At 1 July 2023
and 30 June 2024 2,400
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 250,000 3,362,342 159,427 182,715 3,954,484
Additions - 34,241 5,462 105,359 145,062
Disposals - (95,553 ) - (22,140 ) (117,693 )
At 30 June 2024 250,000 3,301,030 164,889 265,934 3,981,853
DEPRECIATION
At 1 July 2023 35,000 2,324,102 106,102 83,740 2,548,944
Charge for year 5,000 238,426 11,506 45,901 300,833
Eliminated on disposal - (45,375 ) - (21,033 ) (66,408 )
At 30 June 2024 40,000 2,517,153 117,608 108,608 2,783,369
NET BOOK VALUE
At 30 June 2024 210,000 783,877 47,281 157,326 1,198,484
At 30 June 2023 215,000 1,038,240 53,325 98,975 1,405,540

PARTLINE LIMITED (Registered number: 03012761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 502,500 133,925 636,425
Additions - 105,359 105,359
At 30 June 2024 502,500 239,284 741,784
DEPRECIATION
At 1 July 2023 24,628 37,390 62,018
Charge for year 83,625 45,901 129,526
At 30 June 2024 108,253 83,291 191,544
NET BOOK VALUE
At 30 June 2024 394,247 155,993 550,240
At 30 June 2023 477,872 96,535 574,407

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,881,851 1,563,584
Other debtors 124,637 144,939
2,006,488 1,708,523

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 67,708 84,139
Hire purchase contracts 167,806 171,738
Trade creditors 1,037,753 1,074,018
Taxation 342,214 159,703
Other creditors 316,258 278,109
1,931,739 1,767,707

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 67,708
Hire purchase contracts 232,297 323,651
232,297 391,359

PARTLINE LIMITED (Registered number: 03012761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdraft - 2,889
Bank loans 67,708 148,958
Hire purchase - 495,389
67,708 647,236

Bank borrowings are secured by a debenture over all the assets of the company and a legal charge over freehold property owned by the company.

Hire purchase creditors are secured over the specific fixed assets to which they relate.

10. PENSION COMMITMENTS

The company makes payments to several defined contribution pension schemes and also to the statutory workplace pension scheme, the assets of which are held separately from those of the company in independently administered funds. The pension cost charge for the year amounted to £85,667 (2023 : £82,097).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
W H Clark Snr
Balance outstanding at start of year (60,000 ) (75,000 )
Amounts repaid (90,000 ) 15,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (150,000 ) (60,000 )

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the three directors who hold 68.60% (2021 : 68.60%) of the original share capital of the company.

PARTLINE LIMITED (Registered number: 03012761)

Directors' Responsibilities Statement
for the Year Ended 30 June 2024


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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


ON BEHALF OF THE BOARD:




W H Clark Jnr - Director



R H Clark - Director

28 August 2024

Independent Chartered Certified Accountants' Review Report to the Directors of
PARTLINE LIMITED

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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of PARTLINE LIMITED for the year ended 30 June 2024, which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Directors' responsibility for the financial statements
As explained more fully in the Directors' Responsibilities Statement set out on page eleven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report, or for the conclusions we have formed.




Maclean & Company
1 Park View Court
St Paul's Road
Shipley
West Yorkshire
BD18 3DZ


28 August 2024