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REGISTERED NUMBER: 09902341 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FRANK WHITTLE PARTNERSHIP LIMITED

FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANK WHITTLE PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: D Robinson
C D Thompson
B Clayton
N Ainsworth





REGISTERED OFFICE: 6 & 7 Ribblesdale Place
Preston
Lancashire
PR1 3NA





REGISTERED NUMBER: 09902341 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

BALANCE SHEET
31 JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 900,000 975,000
Tangible assets 5 90,850 100,850
990,850 1,075,850

CURRENT ASSETS
Debtors 6 23,024 108,734
Cash at bank and in hand 4,084 20,106
27,108 128,840
CREDITORS
Amounts falling due within one year 7 174,385 264,785
NET CURRENT LIABILITIES (147,277 ) (135,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

843,573

939,905

PROVISIONS FOR LIABILITIES 15,596 17,321
NET ASSETS 827,977 922,584

CAPITAL AND RESERVES
Called up share capital 8 75,642 75,642
Capital redemption reserve 750,000 750,000
Retained earnings 2,335 96,942
SHAREHOLDERS' FUNDS 827,977 922,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

BALANCE SHEET - continued
31 JANUARY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




D Robinson - Director C D Thompson - Director




B Clayton - Director N Ainsworth - Director


FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Frank Whittle 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Freehold property - not provided
Short Leasehold - 7.5% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold property is maintained to ensure that its value does not diminish over time. The maintenance costs are charged to the profit and loss account as they are incurred. In the opinion of the directors, depreciation would be immaterial and, therefore, freehold property is not depreciated.

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


FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Fixed asset investment
Fixed asset investments are held at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 1,500,000
AMORTISATION
At 1 February 2023 525,000
Amortisation for year 75,000
At 31 January 2024 600,000
NET BOOK VALUE
At 31 January 2024 900,000
At 31 January 2023 975,000

FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 6,104 146,192 21,826 174,122
DEPRECIATION
At 1 February 2023 2,570 58,912 11,790 73,272
Charge for year 265 8,730 1,005 10,000
At 31 January 2024 2,835 67,642 12,795 83,272
NET BOOK VALUE
At 31 January 2024 3,269 78,550 9,031 90,850
At 31 January 2023 3,534 87,280 10,036 100,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 15,337 76,990
Directors' current accounts 6,064 -
Prepayments and accrued income 1,623 31,744
23,024 108,734

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Amounts owed to group undertakings 129,585 128,585
Tax 2,607 110,625
VAT 25,357 8,928
Other creditors 4,959 4,961
Directors' current accounts - 100
Accruals and deferred income 11,877 11,586
174,385 264,785

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 31/1/23
value: £    £   
75,642 Ordinary £1 75,642 75,642

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount outstanding at the year end is repayable on demand. Interest at a rate of 2.25% has been charged by the company.

FRANK WHITTLE PARTNERSHIP LIMITED (REGISTERED NUMBER: 09902341)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. RELATED PARTY DISCLOSURES

During the year credit notes were received from F.W.P Limited in respect of previously charged management fees totalling £40,000 excl. VAT.Included in creditors as at 31 January 2024 is an amount of £5,514 (2023 - £4,514) due to F.W.P Limited. The amount outstanding at the year end is deemed payable on demand and no interest has been charged.

Included in creditors as at 31 January 2024 is an amount of £124,071 (2023: £124,071) due to FWP Group Limited. The amount outstanding at the year end is deemed payable on demand and no interest has been charged.