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REGISTERED NUMBER: 04085501 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Partnership Security Limited

Partnership Security Limited (Registered number: 04085501)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Partnership Security Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: N Ogle
Mrs J Ogle





SECRETARY: Mrs J Ogle





REGISTERED OFFICE: 19 Kingsmead Business Park
Gillingham
Dorset
SP8 5FB





REGISTERED NUMBER: 04085501 (England and Wales)





ACCOUNTANTS: Nicola Brookes
Chartered Accountant
Mole End
Shorts Green Lane
Motcombe
Dorset
SP7 9PA

Partnership Security Limited (Registered number: 04085501)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 253,319 164,750
253,319 164,750

CURRENT ASSETS
Stocks 6,500 8,000
Debtors 6 311,543 150,261
Cash at bank 2,631 3,447
320,674 161,708
CREDITORS
Amounts falling due within one year 7 277,334 168,197
NET CURRENT ASSETS/(LIABILITIES) 43,340 (6,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,659

158,261

CREDITORS
Amounts falling due after more than one
year

8

(125,328

)

(22,298

)

PROVISIONS FOR LIABILITIES (42,791 ) (40,937 )
NET ASSETS 128,540 95,026

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 128,440 94,926
SHAREHOLDERS' FUNDS 128,540 95,026

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

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

Partnership Security Limited (Registered number: 04085501)

Balance Sheet - continued
31 October 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 17 January 2025 and were signed on its behalf by:





N Ogle - Director


Partnership Security Limited (Registered number: 04085501)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Partnership Security 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Partnership Security Limited (Registered number: 04085501)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 10,200
AMORTISATION
At 1 November 2023
and 31 October 2024 10,200
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Partnership Security Limited (Registered number: 04085501)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 296,097
Additions 190,222
Disposals (42,727 )
At 31 October 2024 443,592
DEPRECIATION
At 1 November 2023 131,347
Charge for year 82,590
Eliminated on disposal (23,664 )
At 31 October 2024 190,273
NET BOOK VALUE
At 31 October 2024 253,319
At 31 October 2023 164,750

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 84,846
Additions 164,146
At 31 October 2024 248,992
DEPRECIATION
At 1 November 2023 40,685
Charge for year 52,077
At 31 October 2024 92,762
NET BOOK VALUE
At 31 October 2024 156,230
At 31 October 2023 44,161

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 288,351 118,819
Other debtors 23,192 31,442
311,543 150,261

Partnership Security Limited (Registered number: 04085501)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 137 8,512
Hire purchase contracts (see note 9) 33,693 15,352
Trade creditors 106,546 42,790
Taxation and social security 130,486 95,701
Other creditors 6,472 5,842
277,334 168,197

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 9) 125,328 22,298

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.10.24 31.10.23
£    £   
Gross obligations repayable:
Within one year 43,805 18,078
Between one and five years 145,605 26,769
189,410 44,847

Finance charges repayable:
Within one year 10,112 2,726
Between one and five years 20,277 4,471
30,389 7,197

Net obligations repayable:
Within one year 33,693 15,352
Between one and five years 125,328 22,298
159,021 37,650

Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 26,435 35,549
Between one and five years 38,289 72,829
64,724 108,378

Partnership Security Limited (Registered number: 04085501)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
N Ogle and Mrs J Ogle
Balance outstanding at start of year 18,069 7,145
Amounts advanced 9,126 10,924
Amounts repaid (27,309 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (114 ) 18,069

During the year ended 31 October 2024, N R Ogle paid interest on the overdrawn director's account of £226 (£199 - 2023).

During the year ended 31 October 2024 the company paid Premier Trust Re: N R Ogle, of which N R Ogle is a Trustee, £17,647 (£16,909 - 2023) in respect of office rental and service charges.

11. ULTIMATE CONTROLLING PARTY

The controlling party is N Ogle.