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REGISTERED NUMBER: 05355002 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Partnership Homes Development Limited

Partnership Homes Development Limited (Registered number: 05355002)






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


Partnership Homes Development Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: E S Dugdale
V L Struthers





REGISTERED OFFICE: Suite 36
Hardman Business Centre
New Hall Hey
Rawtenstall
BB4 6HH





REGISTERED NUMBER: 05355002 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Partnership Homes Development Limited (Registered number: 05355002)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 5 150,000 124,278

CURRENT ASSETS
Debtors 6 72,415 72,415
Cash at bank and in hand 15,675 14,146
88,090 86,561
CREDITORS
Amounts falling due within one year 7 (7,944 ) (7,783 )
NET CURRENT ASSETS 80,146 78,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,146

203,056

CREDITORS
Amounts falling due after more than one
year

8

(37,590

)

(41,197

)

PROVISIONS FOR LIABILITIES (6,000 ) -
NET ASSETS 186,556 161,859

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 25,722 -
Retained earnings 160,832 161,857
SHAREHOLDERS' FUNDS 186,556 161,859

Partnership Homes Development Limited (Registered number: 05355002)

Balance Sheet - continued
30 June 2024


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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





V L Struthers - Director


Partnership Homes Development Limited (Registered number: 05355002)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Partnership Homes Development 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 124,278
Revaluations 25,722
At 30 June 2024 150,000
NET BOOK VALUE
At 30 June 2024 150,000
At 30 June 2023 124,278

The Directors believe that the above value of the investment property is not materially different to the fair value of the investment property.

Partnership Homes Development Limited (Registered number: 05355002)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 72,415 72,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 4,512 4,512
Taxation and social security 1,167 1,200
Other creditors 2,265 2,071
7,944 7,783

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 37,590 41,197

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,506 21,113

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,512 4,512

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,702 4,702

Amounts falling due between two and five years:
Bank loans - 2-5 years 15,382 15,382

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,506 21,113

Bank borrowings

The mortgage loan is denominated in £ with a nominal interest rate of 4.5%, and the final installment is due on 30 September 2031. The carrying amount at year end is £42,102 (2023 - £45,710).

Bank borrowings are secured by way of a mortgage debenture over the investment property of the company.

Partnership Homes Development Limited (Registered number: 05355002)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary share capital £1 2 2

11. RESERVES
Revaluatio
reserve
£   
Revaluation of property 25,722

At 30 June 2024 25,722