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Registered number: 08967301
Threadmark Partners Limited
Financial Statements
For The Year Ended 31 December 2023
Halkin Lerman Davis Limited
Beaumont Chancery
44 Southampton Buildings
Holborn
London
WC2A 1AP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08967301
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 247,868 37,102
Investments 5 1,551,678 1,551,678
1,799,546 1,588,780
CURRENT ASSETS
Debtors 6 839,250 424,641
Cash at bank and in hand 1,081,252 3,188,502
1,920,502 3,613,143
Creditors: Amounts Falling Due Within One Year 7 (599,331 ) (1,853,087 )
NET CURRENT ASSETS (LIABILITIES) 1,321,171 1,760,056
TOTAL ASSETS LESS CURRENT LIABILITIES 3,120,717 3,348,836
NET ASSETS 3,120,717 3,348,836
CAPITAL AND RESERVES
Called up share capital 9 250,000 250,000
Profit and Loss Account 2,870,717 3,098,836
SHAREHOLDERS' FUNDS 3,120,717 3,348,836
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms W A Gales
Director
Mr B H Chapman
Director
21/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Threadmark Partners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08967301 . The registered office is First Floor Healthaid House, Marlborough Hill, Harrow, Middlesex, HA1 1UD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents invoiced amounts receivable by the Company. Amounts receivable represent revenue the Company is entitled to receive, once documented contractual events have been completed leading to the Company having the contractual right to receive that revenue.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 33% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 10% Straight line
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.
2.5. Pensions
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 7)
9 7
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 33,726 1,405 40,545 75,676
Additions - 234,038 12,847 246,885
Disposals (6,830 ) (1,405 ) - (8,235 )
As at 31 December 2023 26,896 234,038 53,392 314,326
Depreciation
As at 1 January 2023 3,489 1,030 34,055 38,574
Provided during the period 2,690 22,905 6,808 32,403
Disposals (3,489 ) (1,030 ) - (4,519 )
As at 31 December 2023 2,690 22,905 40,863 66,458
...CONTINUED
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Net Book Value
As at 31 December 2023 24,206 211,133 12,529 247,868
As at 1 January 2023 30,237 375 6,490 37,102
5. Investments
Other
£
Cost
As at 1 January 2023 1,551,678
As at 31 December 2023 1,551,678
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1,551,678
As at 1 January 2023 1,551,678
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 93,283 158,972
Other debtors 745,967 265,669
839,250 424,641
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 467,286 1,266,494
Taxation and social security 132,045 586,593
599,331 1,853,087
8. Deferred Taxation
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.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 250,000 250,000
Page 4
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10. Related Party Transactions
Included within other debtors due within one year at the balance sheet date is £1,631 owed to the Company from entities under common control (2022 - £1,631).
Included within other creditors due within one year at the balance sheet date is £245,051 owed from the
Company to entities under common control (2022 - £1,245,635).
During the year, the Company paid £3,252,710 in service charges and management fees to an entity under
common control (2022 - £3,263,259).
During the year, the Company was party to a recharge expense agreement with other entities under common
control, under which expenses are apportioned at cost between the parties to fairly allocate the expenses incurred based on usage
11. Ultimate Controlling Party
In the opinion of the directors there is no overall control of the company.
Page 5