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REGISTERED NUMBER: 12945497 (England and Wales)















GROUP STRATEGIC REPORT, DIRECTORS' REPORT AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE RIGHT PARTNERSHIP LIMITED

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Group Strategic Report 2

Directors' Report 3

Directors' Responsibilities Statement 4

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


THE RIGHT PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A N Stretton
T Stretton
A M Wilson
M G Wilson





REGISTERED OFFICE: 70 St. Johns Close
Knowle
Solihull
West Midlands
B93 0NH





REGISTERED NUMBER: 12945497 (England and Wales)





AUDITORS: Ark Aurora Ltd - Statutory Auditors
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The results for the Group show a profit on ordinary activities before taxation of £2,192,092 (2022: £3,359,640)
for the financial year on a turnover of £40,492,343 (2022: £49,162,806).

The net cash inflow from operating activities was £1,374,027 (2022: £2,808,414).

Interim dividends paid during the financial year amounted to £nil (2022 £2,162,579). There was a final dividend paid in relation to the year to 31 December 2023 of £1,928,045 (2022: £nil).

PRINCIPAL RISKS AND UNCERTAINTIES
Principal risks
The directors considered the risks attached to the Group's and Company's financial instruments and have taken a prudent approach in their consideration of the various risks attached to the financial instruments of the Group and Company. The Group's and Company's exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of assets, liabilities and the financial statements, as a whole.

From the perspective of the Company, the principal risks and uncertainties are integrated with the principal risks of the Group and are not managed separately. Whilst the Company has regard for climate change risk and the transition risks of moving towards a lower carbon economy, the nature of the Company means there is not expected to be a material impact on the Company and its balances in the short term.

ON BEHALF OF THE BOARD:





A N Stretton - Director


18 September 2024

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of financial services. The group is authorised and regulated by the Financial Conduct Authority.

DIVIDENDS

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

A N Stretton
T Stretton
A M Wilson
M G Wilson

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Ark Aurora Ltd - Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A N Stretton - Director


18 September 2024

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors are responsible for preparing the Group Strategic Report, the Directors' Report 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE RIGHT PARTNERSHIP LIMITED


Opinion
We have audited the financial statements of The Right Partnership Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Directors' Report and the Directors' Responsibilities Statement, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE RIGHT PARTNERSHIP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company, group and industry within which it operates, we considered that non
compliance with the following laws and regulations might have a material effect on the financial statements: anti bribery,
FCA regulations, General Data Protection regulation, fraud and money laundering.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the
risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
o Inquiring of management and, where appropriate, those charged with governance, as to whether the group
and the parent company is in compliance with laws and regulations, and discussing their policies and procedures
regarding compliance with laws and regulations;
o Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
o Communicating identified laws and regulations to the engagement team and remaining alert to any indications of
non-compliance throughout our audit; and
o Considering the risk of acts by the group and the parent company which were contrary to applicable laws and
regulations, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE RIGHT PARTNERSHIP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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 members as a body, for our audit work, for this report, or for the opinions we have formed.




Gurnek Ark (Senior Statutory Auditor)
for and on behalf of Ark Aurora Ltd - Statutory Auditors
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

26 September 2024

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   

TURNOVER 40,492,343 49,162,806

Cost of sales 30,361,758 38,684,245
GROSS PROFIT 10,130,585 10,478,561

Administrative expenses 8,092,800 7,291,576
OPERATING PROFIT 4 2,037,785 3,186,985

Profit/loss on sale of
operation 6 11,001 -
2,048,786 3,186,985

Income from shares in group undertakings 76,646 176,739
Income from interest in associated
undertakings

3,932

-
Interest receivable and similar income 62,728 11,371
143,306 188,110
2,192,092 3,375,095

Interest payable and similar expenses 7 - 15,455
PROFIT BEFORE TAXATION 2,192,092 3,359,640

Tax on profit 8 490,754 598,057
PROFIT FOR THE FINANCIAL YEAR 1,701,338 2,761,583

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,701,338

2,761,583

Profit attributable to:
Owners of the parent 1,701,338 2,761,583

Total comprehensive income attributable to:
Owners of the parent 1,701,338 2,761,583

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 85,500 142,500
Tangible assets 13 31,639 31,908
Investments 14
Interest in associate 50 -
117,189 174,408

CURRENT ASSETS
Debtors 15 450,435 932,717
Cash at bank and in hand 3,926,224 4,348,568
4,376,659 5,281,285
CREDITORS
Amounts falling due within one year 16 3,282,365 4,017,198
NET CURRENT ASSETS 1,094,294 1,264,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,211,483

1,438,495

CAPITAL AND RESERVES
Called up share capital 17 10,753 11,058
Retained earnings 18 1,200,730 1,427,437
SHAREHOLDERS' FUNDS 1,211,483 1,438,495

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




A N Stretton - Director



A M Wilson - Director


THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

COMPANY BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 - -
Investments 14 552 756
552 756

CURRENT ASSETS
Debtors 15 252,246 175,886
Cash at bank and in hand 176 185
252,422 176,071
CREDITORS
Amounts falling due within one year 16 15,204 1,004
NET CURRENT ASSETS 237,218 175,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

237,770

175,823

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 237,670 175,723
SHAREHOLDERS' FUNDS 237,770 175,823

Company's profit for the financial year 1,989,992 2,338,810

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




A N Stretton - Director



M G Wilson - Director


THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 10,659 1,133,304 1,143,963

Changes in equity
Issue of share capital 399 - 399
Dividends - (2,467,450 ) (2,467,450 )
Total comprehensive income - 2,761,583 2,761,583
Balance at 31 December 2022 11,058 1,427,437 1,438,495

Changes in equity
Issue of share capital (305 ) - (305 )
Dividends - (1,928,045 ) (1,928,045 )
Total comprehensive income - 1,701,338 1,701,338
Balance at 31 December 2023 10,753 1,200,730 1,211,483

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 (508 ) (408 )

Changes in equity
Dividends - (2,162,579 ) (2,162,579 )
Total comprehensive income - 2,338,810 2,338,810
Balance at 31 December 2022 100 175,723 175,823

Changes in equity
Dividends - (1,928,045 ) (1,928,045 )
Total comprehensive income - 1,989,992 1,989,992
Balance at 31 December 2023 100 237,670 237,770

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,159,074 3,376,656
Interest paid - (15,455 )
Tax paid (774,847 ) (552,787 )
Net cash from operating activities 1,384,227 2,808,414

Cash flows from investing activities
Purchase of tangible fixed assets (17,229 ) (7,048 )
Purchase of fixed asset investments (50 ) -
Disposal proceeds on sale of subsidiary 20,000 -
Loss on deconsolidation of subsidiaries (25,777 ) -
Interest received 62,728 11,371
Dividends received 80,578 176,739
Net cash from investing activities 120,250 181,062

Cash flows from financing activities
Amount introduced by directors 416 786
Amount withdrawn by directors 1,113 4,248
Share issue (305 ) 400
Equity dividends paid (1,928,045 ) (2,467,450 )
- (6,626 )
Net cash from financing activities (1,926,821 ) (2,468,642 )

(Decrease)/increase in cash and cash equivalents (422,344 ) 520,834
Cash and cash equivalents at beginning of
year

2

4,348,568

3,827,734

Cash and cash equivalents at end of year 2 3,926,224 4,348,568

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 2,192,092 3,359,640
Depreciation charges 73,389 72,951
Finance costs - 15,455
Finance income (143,306 ) (188,110 )
2,122,175 3,259,936
Decrease/(increase) in trade and other debtors 492,433 (596,723 )
(Decrease)/increase in trade and other creditors (455,534 ) 713,443
Cash generated from operations 2,159,074 3,376,656

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,926,224 4,348,568
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 4,348,568 3,827,734


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 4,348,568 (422,344 ) 3,926,224
4,348,568 (422,344 ) 3,926,224
Total 4,348,568 (422,344 ) 3,926,224

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The Right Partnership 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 General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As per S1 of FRS 102 an exemption for no parent only cashflow statement has been taken

Basis of consolidation
The basis of consolidation combined the financial statements of The Right Partnership Ltd (parent company), and its subsidiaries, into a single set of financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Group's accounting policies, which are described in note I, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key assumptions, estimates and judgements

The Company makes assumptions, estimates and judgements concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. These are continually evaluated and based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The assumptions and estimates that have a significant risk of causing material adjustment to the Company's earnings and Statement of Financial Position carrying values are estimates in relation to persistency of policies used to calculate the provisions for distribution and commission clawback and the recognition of contract assets and estimates in relation to any possible redress.

There were no critical judgements made during the financial year to 31 December 2023.

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

Turnover is to be recognised when commission has been received.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
Financial assets and liabilities are recognised when the Group becomes a party the the contractual provisions of the instrument.

i. Investments

Investments held as fixed assets by the Company, which entirely represent investments in group companies are stated at cost, less any provision for impairment in value.

ii. Financing Costs

Financial costs of financial liabilities are recognised in the profit and loss account over the terms of such instruments on the carrying amount.


iii. Financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangement entered into.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.


THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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.

Hire purchase and leasing commitments
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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,527,832 2,480,033
Social security costs 265,539 259,998
Other pension costs 56,059 54,542
2,849,430 2,794,573

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 5 5
Administration 61 65
66 70

The average number of employees by undertakings that were proportionately consolidated during the year was 66 (2022 - 70 ) .

For the period ending 31st December 2023 the total salary received by the Key Management Personnel was £371,245. These persons are the directors in one of the material subsidiaries within the group.

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Other operating leases 85,044 85,258
Depreciation - owned assets 16,389 15,951
Goodwill amortisation 57,000 57,000

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. AUDITORS' REMUNERATION
31.12.23 31.12.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

14,000

-

The total cost for audit of The Right Partnership is £14,000

6. EXCEPTIONAL ITEMS
31.12.23 31.12.22
£    £   
Profit/loss on sale of
operation 11,001 -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank loan interest - 15,455

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 490,754 598,057
Tax on profit 490,754 598,057

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary shares of 100 each
Final 1,928,045 2,467,450

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. FINANCIAL RISK MANAGEMENT

Financial risk factors

The Group operations expose it to financial risks: market risk (including interest rate risk, price risk and foreign exchange risk), credit risk and liquidity risk. The Group's risk management programme focuses on liquidity requirements. The Directors maintain the responsibility of monitoring financial risk management and the day-to-day activity is undertaken by the Company's finance department.

Market risk

Market risk is the potential adverse change in the Group's income or the value of the Group's net worth resulting from movements in interest rates or other market prices and arises from the structure of the Statement of Financial Position.

(a) Interest rate risk

The Company has interest bearing assets, currently being its cash balances, The cash balances earn interest at a floating rate.

The Company is not dependent on income from cash balances and therefore has limited risk.

Given the size of balances the cost of managing exposure to interest rate risk using financial instruments exceeds any potential benefits and so the Company has decided not to hedge this risk. The Directors will revisit the appropriateness of this policy in the event the Group's operations change in size or nature.

(b) Price risk

The Company does not hold debt or equity market investments and therefore is not exposed to ny price risk.

(c) Foreign exchange risk

The Company is not exposed to foreign exchange risk as it does not have any operations based outside of the United Kingdom, nor are any material transactions or investments denominated in a currency other than Pounds Sterling.

(d) Capital Risk Management

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal structure to reduce the cost of capital.

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2023 570,000 1,500 571,500
No description - (1,500 ) (1,500 )
At 31 December 2023 570,000 - 570,000
AMORTISATION
At 1 January 2023 427,500 1,500 429,000
Amortisation for year 57,000 - 57,000
No description - (1,500 ) (1,500 )
At 31 December 2023 484,500 - 484,500
NET BOOK VALUE
At 31 December 2023 85,500 - 85,500
At 31 December 2022 142,500 - 142,500

13. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 146,050 11,821 157,871
Additions 17,229 - 17,229
Transfer to ownership (11,052 ) (2,025 ) (13,077 )
At 31 December 2023 152,227 9,796 162,023
DEPRECIATION
At 1 January 2023 117,443 8,520 125,963
Charge for year 15,391 998 16,389
Transfer to ownership (10,125 ) (1,843 ) (11,968 )
At 31 December 2023 122,709 7,675 130,384
NET BOOK VALUE
At 31 December 2023 29,518 2,121 31,639
At 31 December 2022 28,607 3,301 31,908

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


14. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
Additions 50
At 31 December 2023 50
NET BOOK VALUE
At 31 December 2023 50

Interest in associate

The Right Retirement Plan Ltd
The group's share of The Right Retirement Plan Ltd is as follows:

31.12.23 31.12.22
£    £   
Turnover - -

Profit before tax 3,932 -
Taxation - -
Profit after tax 3,932 -

Share of assets
Fixed assets - -
Current assets - -

Share of liabilities
Liabilities due within one year - -
Liabilities due after one year or more - -


Share of net liabilities - -

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


14. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023 756
Disposals (204 )
At 31 December 2023 552
NET BOOK VALUE
At 31 December 2023 552
At 31 December 2022 756

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

The Right Mortgage Ltd
Registered office: 70 St. Johns Close, Knowle, Solihull, West Midlands, B93 0NH
Nature of business: Insurance Agents and Brokers
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 905,799 1,574,414
Profit for the year 1,473,597 2,637,795

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


14. FIXED ASSET INVESTMENTS - continued

The Right Broker Ltd
Registered office: 70 St Johns Court St. Johns Close, Knowle, Solihull, England, B93 0NH
Nature of business: Insurance Agents and Brokers
%
Class of shares: holding
Ordinary 50.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 94,849 38,561
Profit for the year 56,188 39,109

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

The Right Partnership Ltd maintains full control of The Right Broker Ltd hence why it has been included in consolidated statements

The Later Life Lending Network Limited
Registered office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH
Nature of business: Financial Intermediaries
%
Class of shares: holding
ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 4,655 (9,064 )
Profit/(loss) for the year 13,719 (8,444 )

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

This subsidiary was sold on 1st November 2023.

The Right Mortgage Marketing Ltd
Registered office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH
Nature of business: Combined Office Administrative
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (5,673 ) (162,264 )
Profit for the year 598,579 355,057

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


14. FIXED ASSET INVESTMENTS - continued

The Right Loan Ltd
Registered office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH
Nature of business: Other Business Services
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (888 ) 1,007
Profit for the year 46,386 42,190

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

The Right DA Club
Registered office: 70, St. Johns Close, Knowle, Solihull, West Midlands, England, B93 0NH
Nature of business: Insurance Agents and Brokers
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (6,064 ) (17,315 )
Profit for the year 103,723 19,292

As Parent, we have given guarantee under S479C in respect of this year and accordingly, this subsidiary is exempt from the requirements of the Companies Act. relating to the audit of individual accounts by virtue of S479A-C.

The Right Retirement Plan Ltd
Registered office: 70, St. Johns Close, Knowle, Solihull, West Midlands, England, B93 0NH
Nature of business: Activities of insurance agents and brokers
%
Class of shares: holding
Ordinary 50.00
31.12.23
£   
Profit for the year 3,932

Parent company is now holding 50% in The Right Retirement Plan Ltd however doesnt have full control therefore the investors share of associates profits is included in the financial statements. The investment in the associate has also been included.


THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade debtors 80,561 517,360 - -
Amounts owed by group undertakings 10,151 - 232,246 175,886
Other debtors 123,152 32,171 20,000 -
Prepayments 236,571 383,186 - -
450,435 932,717 252,246 175,886

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade creditors 68,071 48,005 - -
Credit card account 7,176 3,911 - -
Amounts owed to group undertakings - - 304 504
Tax 309,847 593,940 - -
Social security and other taxes 82,612 88,735 - -
Net Wages Control - 5,935 - -
Pension liability 15,782 10,016 - -
VAT 60,262 80,784 - -
Other creditors 2,593,395 3,035,395 - -
Directors' current accounts 8,150 6,621 - -
Accruals and deferred income 14,000 14,000 - -
Accrued expenses 123,070 129,856 14,900 500
3,282,365 4,017,198 15,204 1,004

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary 100 10,753 11,058

18. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 1,427,437
Profit for the year 1,701,338
Dividends (1,928,045 )
At 31 December 2023 1,200,730

THE RIGHT PARTNERSHIP LIMITED (REGISTERED NUMBER: 12945497)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


18. RESERVES - continued


19. RELATED PARTY DISCLOSURES

Below is a list of related party transactions:

- Related party bad debt w/off : £168,339
- Related party sales: £4,545,393
- Related Party Consulting Services: £136,119
- Key Management Personnel: £371,245

The Right Partnership has 100% control over The Right Mortgage Ltd, The Right Broker Ltd, The Right Loan Ltd, The Right DA Club Ltd, The Right Mortgage Marketing Ltd,The Later Life Lending Network Ltd, and TRN Adviser Ltd.

The entity also has 50% investment in The Right Retirement Plan Ltd.

A&M Wilson Holdings and TRG Financial Services Ltd have equal 50% share each in The Right Partnership Limited