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REGISTERED NUMBER: 02936842 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

PARTNERS FOUNDATION LIMITED

PARTNERS FOUNDATION LIMITED (REGISTERED NUMBER: 02936842)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARTNERS FOUNDATION LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







Directors: Mr S Barrie
Mr I Brown
Mrs M Rimmer
Mr G Barton
Mr D Baybut





Registered office: Wigan Investment Centre Wigan Investment
Waterside Drive
Wigan
Lancashire
WN3 5BA





Registered number: 02936842 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

PARTNERS FOUNDATION LIMITED (REGISTERED NUMBER: 02936842)

Balance Sheet
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,490,261 4,426,498

CURRENT ASSETS
Debtors 5 443,052 463,873
Cash at bank and in hand 1,538,172 1,917,207
1,981,224 2,381,080
CREDITORS
Amounts falling due within one year 6 725,386 688,729
NET CURRENT ASSETS 1,255,838 1,692,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,746,099

6,118,849

CREDITORS
Amounts falling due after more than one
year

7

(1,512,076

)

(1,515,398

)

PROVISIONS FOR LIABILITIES 9 (4,138 ) -
NET ASSETS 5,229,885 4,603,451

RESERVES
Income and expenditure account 5,229,885 4,603,451
5,229,885 4,603,451

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by:





Mr G Barton - Director


PARTNERS FOUNDATION LIMITED (REGISTERED NUMBER: 02936842)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Partners Foundation Limited is a private company, limited by guarantee , 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 under the historical cost convention as modified by
the revaluation of certain fixed assets and in accordance with the provisions of FRS 102 Section 1A
small entities

Investment property
Investment properties, which are properly held to earn rentals and/or for capital appreciation, are
initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.
Subsequently these are measured at fair value at the reporting end date, Changes in fair value are
recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment properties are
accounted for as tangible fixed assets

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 21 (2023 - 22 ) .

PARTNERS FOUNDATION LIMITED (REGISTERED NUMBER: 02936842)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 4,134,623 276,564 97,456 21,775 4,530,418
Additions 1,074,042 - 2,457 - 1,076,499
At 31 July 2024 5,208,665 276,564 99,913 21,775 5,606,917
DEPRECIATION
At 1 August 2023 - 8,540 83,655 11,725 103,920
Charge for year - 3,660 5,274 3,802 12,736
At 31 July 2024 - 12,200 88,929 15,527 116,656
NET BOOK VALUE
At 31 July 2024 5,208,665 264,364 10,984 6,248 5,490,261
At 31 July 2023 4,134,623 268,024 13,801 10,050 4,426,498

5. DEBTORS
31.7.24 31.7.23
£    £   
Amounts falling due within one year:
Trade debtors 48,188 91,865
Other debtors 46,816 86,050
95,004 177,915

Amounts falling due after more than one year:
Other debtors 348,048 285,958

Aggregate amounts 443,052 463,873

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 275,425 125,962
Trade creditors 86,794 343,602
Taxation and social security 241,596 158,043
Other creditors 121,571 61,122
725,386 688,729

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 1,191,255 1,229,440
Other creditors 320,821 285,958
1,512,076 1,515,398

PARTNERS FOUNDATION LIMITED (REGISTERED NUMBER: 02936842)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 1,466,680 1,355,402

9. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 4,138 -

Deferred
tax
£   
Provided during year 4,138
Balance at 31 July 2024 4,138