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COMPANY REGISTRATION NUMBER: SC421138
3A Partnership Ltd
Filleted Unaudited Financial Statements
30 April 2024
3A Partnership Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Current assets
Stocks
853,007
847,852
Debtors
4
20
20
Cash at bank and in hand
29,916
32,708
---------
---------
882,943
880,580
Creditors: amounts falling due within one year
5
( 1,162,296)
( 1,088,517)
------------
------------
Net current liabilities
( 279,353)
( 207,937)
---------
---------
Total assets less current liabilities
( 279,353)
( 207,937)
---------
---------
Net liabilities
( 279,353)
( 207,937)
---------
---------
Capital and reserves
Called up share capital
200
200
Share premium account
68,707
68,707
Profit and loss account
( 348,260)
( 276,844)
---------
---------
Shareholders deficit
( 279,353)
( 207,937)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
3A Partnership Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr R Murray
Director
Company registration number: SC421138
3A Partnership Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Forbes House, 36 Huntly Street, Inverness, IV3 5PR, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has been funded by loans from the directors. The director's have confirmed they will continue to support the company for the next 12 months and on this basis, consider the going concern basis of accounting appropriate.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Other debtors
20
20
----
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,290
175
Other creditors
1,157,006
1,088,342
------------
------------
1,162,296
1,088,517
------------
------------
6. Related party transactions
The company activities have been funded by loans from the directors. At 30 April 2024 the company is due 2 (2023 - 2) directors £ 607,139 (2023 - £607,139). Interest was accrued on these loans in the accounts at 4% above the Bank of England base rate until 25 June 2021. From 25 June 2021 interest is charged on these loans at 3% above the Bank of England base rate. Interest of £49,226 (2023 - £33,946) was accrued in the year and £232,836 (2023 - £183,610) was due to the directors in respect of accrued interest on these loans.