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Registered Number: 02611280
England and Wales

 

 

 

PARTNERSHIP DESIGN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors Susan Roberta Proudlove
Abigail Sally Proudlove
Amy Louise Dowdall
Registered Number 02611280
Registered Office Fidelity House
Stocks Lane
Boughton
Cheshire
CH3 5TF
Accountants Woods Squared Limited
The Old School
188 Liscard Road
Wallasey
Wirral
CH44 5TN
Secretary Susan Roberta Proudlove
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2023.
Principal activities
Principal activity of the company during the financial year was that of design and consultancy
Directors
The directors who served the company throughout the year were as follows:
Susan Roberta Proudlove
Abigail Sally Proudlove
Amy Louise Dowdall
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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 judgments 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Amy Louise Dowdall
Director

Date approved: 01 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 18,959    18,743 
18,959    18,743 
Current assets      
Debtors: amounts falling due within one year 4 412,312    111,925 
Cash at bank and in hand 465,162    317,426 
877,474    429,351 
Creditors: amount falling due within one year 5 (438,786)   (118,316)
Net current assets 438,688    311,035 
 
Total assets less current liabilities 457,647    329,778 
Creditors: amount falling due after more than one year 6 (32,843)   (38,726)
Provisions for liabilities 7 (4,603)   (3,434)
Net assets 420,201    287,618 
 

Capital and reserves
     
Called up share capital 15,000    15,000 
Capital Redemption Reserve 8 5,000    5,000 
Profit and loss account 400,201    267,618 
Shareholder's funds 420,201    287,618 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 July 2024 and were signed on its behalf by:


-------------------------------
Abigail Sally Proudlove
Director
3
General Information
Partnership Design Limited is a private company, limited by shares, registered in England and Wales, registration number 02611280, registration address Fidelity House, Stocks Lane, Boughton, Cheshire, CH3 5TF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 25% Straight Line
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 12 (2022 : 11).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 2,462    17,201    174,000    193,663 
Additions     4,957    4,957 
Disposals      
At 31 December 2023 2,462    17,201    178,957    198,620 
Depreciation
At 01 January 2023 2,462    15,723    156,735    174,920 
Charge for year   296    4,445    4,741 
On disposals      
At 31 December 2023 2,462    16,019    161,180    179,661 
Net book values
Closing balance as at 31 December 2023   1,182    17,777    18,959 
Opening balance as at 01 January 2023   1,478    17,265    18,743 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 312,211    100,265 
Other Debtors 100,101    11,660 
412,312    111,925 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 2,098    1,249 
Bank Loans & Overdrafts 5,882    5,882 
Taxation and Social Security 135,496    88,650 
Other Creditors 295,310    22,535 
438,786    118,316 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 32,843    38,726 
32,843    38,726 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,603    3,434 
4,603    3,434 

8.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 5,000    5,000 
5,000    5,000 

4