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REGISTERED NUMBER: 07003874 (England and Wales)








THE PARTNERSHIP (2009) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

THE PARTNERSHIP (2009) LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: P J Ambrose
S A Ambrose
C L Atkinson
A M I Winter
T Holland
S Poudel





REGISTERED OFFICE: Artillery House
71 - 73 Woodbridge Road
Guildford
Surrey
GU1 4QH





REGISTERED NUMBER: 07003874 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

BALANCE SHEET
30 June 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 67,641 101,033

CURRENT ASSETS
Debtors 5 597,049 536,814
Cash at bank 230,240 397,593
827,289 934,407
CREDITORS
Amounts falling due within one year 6 (604,384 ) (667,341 )
NET CURRENT ASSETS 222,905 267,066
TOTAL ASSETS LESS CURRENT LIABILITIES 290,546 368,099

CREDITORS
Amounts falling due after more than one year 7 (45,056 ) (53,197 )
NET ASSETS 245,490 314,902

CAPITAL AND RESERVES
Called up share capital 85 85
Retained earnings 245,405 314,817
SHAREHOLDERS' FUNDS 245,490 314,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

BALANCE SHEET - continued
30 June 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 29 November 2024 and were signed on its behalf by:





P J Ambrose - Director


THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

The Partnership (2009) 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.

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.

Compliance with accounting standards
The financial statements are prepared in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except otherwise stated).

Turnover and accrued income
Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluded value added tax. Turnover is recognised when a right to consideration has been obtained, upon exchange of contracts. Turnover is not recognised where exchange of contracts has not occurred at the balance sheet date, as the right to receive payment is contingent on events outside the control of the company.

Accrued income is included in other debtors.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixture and fittings- 25% on cost
Computer equipment- 25% on cost
Motor vehicles- 25% on cost

On disposal, the difference between net proceeds and the carrying amount of the item sold is recognised in the income statement and is included in administrative expenses.

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.


THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method. The company does not have any financial non-basic instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 81 (2023 - 84 ) .

THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 July 2023 150,322 77,515 191,399 419,236
Additions 2,329 - 6,575 8,904
Disposals - - (5,058 ) (5,058 )
At 30 June 2024 152,651 77,515 192,916 423,082
DEPRECIATION
At 1 July 2023 132,850 24,223 161,130 318,203
Charge for year 7,676 19,379 15,238 42,293
Eliminated on disposal - - (5,055 ) (5,055 )
At 30 June 2024 140,526 43,602 171,313 355,441
NET BOOK VALUE
At 30 June 2024 12,125 33,913 21,603 67,641
At 30 June 2023 17,472 53,292 30,269 101,033

Included within the above are assets held under hire purchase which cost £77,515 (2023: £77,515). Depreciation charged to date totals £43,602 (2023 £24,223) and the net book value of the assets is £33,913 (2023: £53,292).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 30,186 32,534
Other debtors 566,863 504,280
597,049 536,814

Included within other debtors is a deferred tax asset falling due within one year of £122,000 (2023:£142,000) which arises due to taxable trading losses and offset by timing differences and liabilities. The directors believe it is probable that the taxable losses will be recovered against future taxable profits.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) 8,141 8,141
Trade creditors 157,064 110,998
Taxation and social security 360,506 481,291
Other creditors 78,673 66,911
604,384 667,341

THE PARTNERSHIP (2009) LIMITED (REGISTERED NUMBER: 07003874)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) 45,056 53,197

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 8,141 8,141
Between one and five years 45,056 53,197
53,197 61,338

Non-cancellable
operating leases
2024 2023
£ £
Within one year 218,862 282,094
Between one and five years 519,152 731,265
In more than five years - 13,333
738,014 1,026,692

9. DEFERRED TAX


Deferred
tax
£
Balance at 1 July 2023(142,000)
Decrease in asset arising from taxable losses27,055
Decrease in provisions arising from short term timing differences and capital allowances(7,055)
Balance at 30 June 2024(122,000)

The deferred tax asset of £122,000 (2023: £142,000) has been included within other debtors. This is made up of short term timing differences and capital allowances of £520 (2023: £6,535), and £121,480 (2023: £148,535) of taxable losses.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE PARTNERSHIP (2009) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Partnership (2009) Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Partnership (2009) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Partnership (2009) Limited and state those matters that we have agreed to state to the Board of Directors of The Partnership (2009) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Partnership (2009) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Partnership (2009) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Partnership (2009) Limited. You consider that The Partnership (2009) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Partnership (2009) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


29 November 2024