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Andrew Prentice Partnership Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
The Laurel Partnership Ltd
16 Broad Street
Eye
Suffolk
IP23 7AF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 03940411
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,568 2,091
1,568 2,091
CURRENT ASSETS
Debtors 74,336 98,360
Cash at bank and in hand 12,286 28,988
86,622 127,348
Creditors: Amounts Falling Due Within One Year (14,905 ) (20,417 )
NET CURRENT ASSETS (LIABILITIES) 71,717 106,931
TOTAL ASSETS LESS CURRENT LIABILITIES 73,285 109,022
Creditors: Amounts Falling Due After More Than One Year (7,151 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (298 ) (397 )
NET ASSETS 65,836 108,625
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 65,736 108,525
SHAREHOLDERS' FUNDS 65,836 108,625
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Matthew Aldous
Director
07/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Andrew Prentice Partnership Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03940411 . The registered office is 5 Market Place, Stowmarket, Suffolk, IP14 1DT.
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 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 rendering of services and is reduced for estimated customer returns, rebates and other similar allowances.
Turnover is recognised by reference to the stage of completion of the engagement. The stage of completion of an engagement is measured by comparing the costs incurred for work performed to date to the total estimated engagement costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of an engagement cannot be estimated reliably.
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:
Plant & Machinery 25% reducing balance
2.4. 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. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
Page 3
Page 4
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 9,931
As at 31 March 2024 9,931
Depreciation
As at 1 April 2023 7,840
Provided during the period 523
As at 31 March 2024 8,363
Net Book Value
As at 31 March 2024 1,568
As at 1 April 2023 2,091
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4