Company Registration No. 12355318 (England and Wales)
Partridge Family Investment Company Limited
Unaudited accounts
for the year ended 31 March 2024
Partridge Family Investment Company Limited
Statement of financial position
as at 31 March 2024
Investment property
1,920,545
1,684,310
Investments
2,944,341
2,958,526
Inventories
2,116,484
1,075,847
Cash at bank and in hand
196,295
142,008
Creditors: amounts falling due within one year
(7,730,077)
(6,094,426)
Net current liabilities
(4,962,358)
(4,793,631)
Net liabilities
(97,472)
(150,795)
Called up share capital
100
100
Profit and loss account
(97,572)
(150,895)
Shareholders' funds
(97,472)
(150,795)
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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by
David John Gratiaen Partridge
Director
Company Registration No. 12355318
Partridge Family Investment Company Limited
Notes to the Accounts
for the year ended 31 March 2024
Partridge Family Investment Company Limited is a private company, limited by shares, registered in England and Wales, registration number 12355318. The registered office is Apartment 11-92 Gasholders Building, 1 Lewis Cubitt Square, London, N1C 4BX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors believe that the company Partridge Family Investment Company Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover comprises rental income from investment properties and dividend income from listed investments. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes.
Investment property is measured at fair value with changes in fair value recognised in the Profit and Loss Account.
Listed Investments in shares are included at fair value with changes in fair value recognised through the profit and loss account. Unlisted Investments in shares are included as cost less diminution in value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Partridge Family Investment Company Limited
Notes to the Accounts
for the year ended 31 March 2024
Other debtors at 31 March 2023 has been increased by £82,892 to correctly classify the balance previously included within investments.
Fair value at 1 April 2023
1,684,310
At 31 March 2024
1,920,545
5
Investments
Other investments
Valuation at 1 April 2023
2,958,526
Fair value adjustments
7,881
Valuation at 31 March 2024
2,944,341
Work in progress
2,116,484
1,075,847
Amounts falling due within one year
Other debtors
454,940
82,940
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,143
-
Loans from directors
7,716,804
6,092,256
Allotted, called up and fully paid:
26 Ordinary A shares of £1 each
26
26
26 Ordinary B shares of £1 each
26
26
24 Ordinary C shares of £1 each
24
24
24 Ordinary D shares of £1 each
24
24
Partridge Family Investment Company Limited
Notes to the Accounts
for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 2 (2023: 1).