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REGISTERED NUMBER: 14097403 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

F&G PARTNERS LTD

F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F&G PARTNERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr A R Franklin
Miss D H Gronowska



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 14097403 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
EC2M 2PP

F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,226 7,929

CURRENT ASSETS
Debtors 5 25,863 47,109
Cash at bank 83,128 52,073
108,991 99,182
CREDITORS
Amounts falling due within one year 6 42,532 70,671
NET CURRENT ASSETS 66,459 28,511
TOTAL ASSETS LESS CURRENT LIABILITIES 122,685 36,440

CREDITORS
Amounts falling due after more than one
year

7

(45,682

)

-

PROVISIONS FOR LIABILITIES (14,057 ) -
NET ASSETS 62,946 36,440

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,846 36,340
SHAREHOLDERS' FUNDS 62,946 36,440

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




Miss D H Gronowska - Director



Mr A R Franklin - Director


F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

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


1. STATUTORY INFORMATION

F&G Partners Ltd 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 1,702 4,983 3,887 10,572
Additions 1,209 60,145 5,678 67,032
At 31 May 2024 2,911 65,128 9,565 77,604
DEPRECIATION
At 1 June 2023 424 1,246 973 2,643
Charge for year 373 15,971 2,391 18,735
At 31 May 2024 797 17,217 3,364 21,378
NET BOOK VALUE
At 31 May 2024 2,114 47,911 6,201 56,226
At 31 May 2023 1,278 3,737 2,914 7,929

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 59,230
At 31 May 2024 59,230
DEPRECIATION
Charge for year 14,808
At 31 May 2024 14,808
NET BOOK VALUE
At 31 May 2024 44,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,482 44,905
Other debtors 1,124 811
Directors' current accounts 2,074 -
Prepayments 1,183 1,393
25,863 47,109

F&G PARTNERS LTD (REGISTERED NUMBER: 14097403)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,279 -
Trade creditors - 1,234
Tax 21,042 31,901
VAT 9,184 4,430
Other creditors 2,758 6,839
Directors' current accounts - 25,288
Accrued expenses 2,269 979
42,532 70,671

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 45,682 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

2024 2023
£    £   
Mr A R Franklin and Miss D H Gronowska
Balance outstanding at start of year (25,288 ) (25,288 )
Amounts advanced 119,116 -
Amounts repaid (91,754 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,074 (25,288 )

Loans are unsecured, interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £74,000 were paid to the directors .