ATD Partners Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 07862920 (England and Wales)
ATD Partners Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ATD Partners Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
79,558
76,185
Tangible assets
4
685,965
696,120
765,523
772,305
Current assets
Debtors
5
170,420
253,710
Cash at bank and in hand
690,369
627,749
860,789
881,459
Creditors: amounts falling due within one year
6
(197,880)
(261,313)
Net current assets
662,909
620,146
Total assets less current liabilities
1,428,432
1,392,451
Creditors: amounts falling due after more than one year
7
(200,000)
Net assets
1,428,432
1,192,451
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
1,427,432
1,191,451
Total equity
1,428,432
1,192,451
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ATD Partners Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
I Burnley
Director
Company Registration No. 07862920
ATD Partners Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information
ATD Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 The Paddocks, Blackmore Way, Wheathampstead, St Albans, United Kingdom, AL4 8HE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives - after they are brought into use - on the following bases:
Website Costs
30% on cost
Digital Learning IP & Technology
5 years straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Fixtures and fittings
10% on cost
Office Equipment and IT
30% on cost
Motor vehicles
8 years straight line
ATD Partners Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
ATD Partners Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 5
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Intangible fixed assets
Website Costs
Digital Learning IP & Technology
Total
£
£
£
Cost
At 1 April 2023
2,644
80,879
83,523
Additions
19,812
19,812
At 31 March 2024
2,644
100,691
103,335
Amortisation and impairment
At 1 April 2023
7,338
7,338
Amortisation charged for the year
16,439
16,439
At 31 March 2024
23,777
23,777
Carrying amount
At 31 March 2024
2,644
76,914
79,558
At 31 March 2023
2,644
73,541
76,185
ATD Partners Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Office Equipment and IT
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
660,000
30,596
14,190
27,821
732,607
Depreciation and impairment
At 1 April 2023
18,130
10,242
8,115
36,487
Depreciation charged in the year
3,060
3,617
3,478
10,155
At 31 March 2024
21,190
13,859
11,593
46,642
Carrying amount
At 31 March 2024
660,000
9,406
331
16,228
685,965
At 31 March 2023
660,000
12,466
3,948
19,706
696,120
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
140,367
253,710
Other debtors
2,513
-
Prepayments and accrued income
27,540
170,420
253,710
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28,889
64,913
Corporation tax
112,723
73,287
Other taxation and social security
44,268
51,001
Other creditors
-
3,352
Accruals and deferred income
12,000
68,760
197,880
261,313
ATD Partners Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 7
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
200,000
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
750
750
750
750
Ordinary B shares of £1 each
124
124
124
124
Ordinary C shares of £1 each
63
63
63
63
Ordinary D shares of £1 each
63
63
63
63
1,000
1,000
1,000
1,000