Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11134738 Mr Dean Finnegan Mr Jack Jacob Jack Jacob true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11134738 2022-12-31 11134738 2023-12-31 11134738 2023-01-01 2023-12-31 11134738 frs-core:CurrentFinancialInstruments 2023-12-31 11134738 frs-core:Non-currentFinancialInstruments 2023-12-31 11134738 frs-core:ComputerEquipment 2023-12-31 11134738 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11134738 frs-core:ComputerEquipment 2022-12-31 11134738 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11134738 frs-core:FurnitureFittings 2023-12-31 11134738 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11134738 frs-core:FurnitureFittings 2022-12-31 11134738 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 11134738 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11134738 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 11134738 frs-core:MotorVehicles 2023-12-31 11134738 frs-core:MotorVehicles 2023-01-01 2023-12-31 11134738 frs-core:MotorVehicles 2022-12-31 11134738 frs-core:OtherResidualIntangibleAssets 2023-12-31 11134738 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 11134738 frs-core:OtherResidualIntangibleAssets 2022-12-31 11134738 frs-core:WithinOneYear 2023-12-31 11134738 frs-core:ShareCapital 2023-12-31 11134738 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11134738 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11134738 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11134738 frs-bus:SmallEntities 2023-01-01 2023-12-31 11134738 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11134738 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11134738 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 11134738 frs-bus:OrdinaryShareClass2 2023-12-31 11134738 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 11134738 frs-bus:OrdinaryShareClass3 2023-12-31 11134738 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 11134738 frs-bus:OrdinaryShareClass4 2023-12-31 11134738 1 2023-01-01 2023-12-31 11134738 frs-bus:Director1 2023-01-01 2023-12-31 11134738 frs-bus:Director2 2023-01-01 2023-12-31 11134738 frs-bus:Director2 2022-12-31 11134738 frs-bus:Director2 2023-12-31 11134738 frs-countries:EnglandWales 2023-01-01 2023-12-31 11134738 2021-12-31 11134738 2022-12-31 11134738 2022-01-01 2022-12-31 11134738 frs-core:CurrentFinancialInstruments 2022-12-31 11134738 frs-core:Non-currentFinancialInstruments 2022-12-31 11134738 frs-core:BetweenOneFiveYears 2022-12-31 11134738 frs-core:WithinOneYear 2022-12-31 11134738 frs-core:ShareCapital 2022-12-31 11134738 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11134738 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 11134738 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 11134738 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31
Registered number: 11134738
Partnership Network Events Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11134738
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,789 2,500
Tangible Assets 5 212,321 197,362
227,110 199,862
CURRENT ASSETS
Debtors 6 3,361,857 1,541,323
Cash at bank and in hand 1,323,249 833,057
4,685,106 2,374,380
Creditors: Amounts Falling Due Within One Year 7 (3,075,741 ) (1,202,702 )
NET CURRENT ASSETS (LIABILITIES) 1,609,365 1,171,678
TOTAL ASSETS LESS CURRENT LIABILITIES 1,836,475 1,371,540
Creditors: Amounts Falling Due After More Than One Year 8 (318,918 ) (24,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (48,933 ) (32,198 )
NET ASSETS 1,468,624 1,315,175
CAPITAL AND RESERVES
Called up share capital 10 103 4
Profit and Loss Account 1,468,521 1,315,171
SHAREHOLDERS' FUNDS 1,468,624 1,315,175
Page 1
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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
Mr Dean Finnegan
Director
Mr Jack Jacob
Director
16 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Partnership Network Events Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11134738 . The registered office is Canada House, First Floor, 20/20 Business Park, Maidstone, Kent, ME16 0LS.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services in relation to events is recognised based on the period which the event takes place. Sales that are invoiced in advance of events held is recognised as deferred income and sales that are invoiced after the event date is recognised as accrued income.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
     Website Development                                    10 years straight line
2.5. 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 25% per annum on diminishing value basis
Motor Vehicles 20% straight line basis
Fixtures & Fittings 25% per annum on a diminishing value basis
Computer Equipment 3 years straight line basis
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2022: 23)
45 23
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 5,000
Additions 13,650
As at 31 December 2023 18,650
Amortisation
As at 1 January 2023 2,500
Provided during the period 1,361
As at 31 December 2023 3,861
Net Book Value
As at 31 December 2023 14,789
As at 1 January 2023 2,500
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Page 5
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 97,540 - 127,566 52,158 277,264
Additions - 40,718 13,741 20,471 74,930
As at 31 December 2023 97,540 40,718 141,307 72,629 352,194
Depreciation
As at 1 January 2023 25,110 - 34,675 20,117 79,902
Provided during the period 14,631 6,108 25,569 13,663 59,971
As at 31 December 2023 39,741 6,108 60,244 33,780 139,873
Net Book Value
As at 31 December 2023 57,799 34,610 81,063 38,849 212,321
As at 1 January 2023 72,430 - 92,891 32,041 197,362
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,741,314 641,051
Prepayments and accrued income 213,561 59,244
Other debtors 1,406,982 445,933
Directors' loan accounts - 395,095
3,361,857 1,541,323
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 342,056 105,720
Bank loans and overdrafts 10,000 10,000
Corporation tax 168,597 177,338
Other taxes and social security 93,603 82,183
VAT 225,092 51,303
Other creditors 223,697 80,763
Accruals and deferred income 2,012,696 695,395
3,075,741 1,202,702
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
Other creditors 304,751 -
318,918 24,167
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9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 48,933 32,198
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 100.00 each 100 1
1 Ordinary B shares of £ 1.00 each 1 1
1 Ordinary C shares of £ 2.00 each 2 2
103 4
Shares issued during the period: £
1 Ordinary A shares of £ 99.00 each 99
Shares disposed during the period: £
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 94,224 94,224
Later than one year and not later than five years - 94,224
94,224 188,448
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Jack Jacob 395,095 - 395,095 - -
The above loan is unsecured, interest baring and repayable on demand.
13. Ultimate Controlling Party
The company's ultimate controlling party is Jack Jacob by virtue of his majority ownership of the issued share capital in the company.
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