Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsefalse2022-12-26supermarket6462truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01193786 2022-12-26 2023-12-31 01193786 2021-12-27 2022-12-25 01193786 2023-12-31 01193786 2022-12-25 01193786 2021-12-27 01193786 c:Director1 2022-12-26 2023-12-31 01193786 d:Buildings d:ShortLeaseholdAssets 2022-12-26 2023-12-31 01193786 d:Buildings d:ShortLeaseholdAssets 2023-12-31 01193786 d:Buildings d:ShortLeaseholdAssets 2022-12-25 01193786 d:MotorVehicles 2022-12-26 2023-12-31 01193786 d:MotorVehicles 2023-12-31 01193786 d:MotorVehicles 2022-12-25 01193786 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 01193786 d:FurnitureFittings 2022-12-26 2023-12-31 01193786 d:FurnitureFittings 2023-12-31 01193786 d:FurnitureFittings 2022-12-25 01193786 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 01193786 d:OwnedOrFreeholdAssets 2022-12-26 2023-12-31 01193786 d:CurrentFinancialInstruments 2023-12-31 01193786 d:CurrentFinancialInstruments 2022-12-25 01193786 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01193786 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-25 01193786 d:ShareCapital 2023-12-31 01193786 d:ShareCapital 2022-12-25 01193786 d:RetainedEarningsAccumulatedLosses 2023-12-31 01193786 d:RetainedEarningsAccumulatedLosses 2022-12-25 01193786 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-26 2023-12-31 01193786 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 01193786 c:FRS102 2022-12-26 2023-12-31 01193786 c:AuditExempt-NoAccountantsReport 2022-12-26 2023-12-31 01193786 c:FullAccounts 2022-12-26 2023-12-31 01193786 c:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 01193786 2 2022-12-26 2023-12-31 01193786 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01193786 d:AcceleratedTaxDepreciationDeferredTax 2022-12-25 01193786 d:RetirementBenefitObligationsDeferredTax 2023-12-31 01193786 d:RetirementBenefitObligationsDeferredTax 2022-12-25 01193786 e:PoundSterling 2022-12-26 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 01193786






PARTRIDGES OF SLOANE SQUARE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










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PARTRIDGES OF SLOANE SQUARE LIMITED
REGISTERED NUMBER:01193786

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
149,028
175,800

  
149,028
175,800

Current assets
  

Stocks
 6 
457,498
434,934

Debtors: amounts falling due within one year
 7 
1,006,512
1,097,373

Cash at bank and in hand
 8 
1,042,828
1,270,182

  
2,506,838
2,802,489

Creditors: amounts falling due within one year
 9 
(664,179)
(1,077,334)

Net current assets
  
 
 
1,842,659
 
 
1,725,155

Total assets less current liabilities
  
1,991,687
1,900,955

Provisions for liabilities
  

Deferred tax
 10 
(32,504)
(26,968)

Other provisions
 11 
(250,000)
-

  
 
 
(282,504)
 
 
(26,968)

Net assets
  
1,709,183
1,873,987


Capital and reserves
  

Called up share capital 
  
600,100
600,100

Profit and loss account
  
1,109,083
1,273,887

  
1,709,183
1,873,987


Page 1

 
PARTRIDGES OF SLOANE SQUARE LIMITED
REGISTERED NUMBER:01193786
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J A W Shepherd
Director

Date: 19 September 2024

Page 2

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Partridges of Sloane Square is a private company limited by shares, incorporated in England and Wales.  Its registered office address is 2 - 5 Duke of York Square, London SW3 4LY.
The company's principal activity continues to be that of providing the finest conventional and prepared foods with an emphasis on fine wines and traditional counter services. The company's philosophy is to be 'providers of good things for the larder. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the period of the lease
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% and 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities
Page 6

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


4.


Employees

The average monthly number of employees, including directors, during the year was 64 (2022 -62).


5.


Tangible fixed assets







S/Term Leasehold Property Improve-ments
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 26 December 2022
745,518
20,563
446,028
1,212,109


Additions
-
13,047
34,297
47,344


Disposals
-
(15,525)
-
(15,525)



At 31 December 2023

745,518
18,085
480,325
1,243,928



Depreciation


At 26 December 2022
692,719
17,276
326,314
1,036,309


Charge for the year on owned assets
42,237
3,792
26,922
72,951


Disposals
-
(14,360)
-
(14,360)



At 31 December 2023

734,956
6,708
353,236
1,094,900



Net book value



At 31 December 2023
10,562
11,377
127,089
149,028



At 25 December 2022
52,799
3,287
119,714
175,800

Page 7

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
457,498
434,934

457,498
434,934



7.


Debtors

2023
2022
£
£


Trade debtors
13,743
17,293

Amounts owed by group undertakings
671,810
729,148

Other debtors
89,806
97,880

Prepayments and accrued income
231,153
253,052

1,006,512
1,097,373



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,042,828
1,270,182

1,042,828
1,270,182


Page 8

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
380,246
868,276

Taxation and social security
86,439
121,259

Other creditors
7,292
5,769

Accruals and deferred income
190,202
82,030

664,179
1,077,334


The company is part of a composite cross guarantee between this company, Shepherd Foods (London) Limited, Partridges of Sloane Street Limited and C & J Carpets Limited which secures the bank overdrafts of these companies. The company's bankers hold a mortgage debenture over all assets of the company.

Page 9

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation






2023
2022


£

£






At beginning of year
(26,968)
(33,985)


Charged/(credited) to profit or loss
(5,536)
7,017



At end of year
(32,504)
(26,968)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(33,251)
(27,713)

Pension surplus
747
745

(32,504)
(26,968)


11.


Provisions






Dilapidation provision

£





Charged to profit or loss
250,000



At 31 December 2023
250,000


12.


Pension commitments

Defined contribution pension scheme
The Company operates a Defined contributions pension scheme for its employees. The assets of the Scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £37,048 (2022: £30,632). Contributions totaling £7,292 (2022: £5,769) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
PARTRIDGES OF SLOANE SQUARE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Related party transactions

At the balance sheet date the company was owed £31,433 (2022: £30,594) by a company under common control. The balance does not bear interest and is repayable on demand.
The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.


14.


Controlling party

The ultimate parent company is Partridges of Sloane Street Limited which owns 100% of the share capital in Partridges of Sloane Square Limited.

 
Page 11