Company Registration No. 10423107 (England and Wales)
PARTNERSHIP4 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
31 May 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PARTNERSHIP4 LIMITED
COMPANY INFORMATION
Directors
Mr A A Buck
Mrs J Cleaver
Mr J M Tomlinson
Company number
10423107
Registered office
Lomeshaye Business Village
Turner Road
Nelson
Lancashire
BB9 7DR
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PARTNERSHIP4 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PARTNERSHIP4 LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
115,776
115,776
Current assets
-
-
Creditors: amounts falling due within one year
4
(192,800)
(171,800)
Net current liabilities
(192,800)
(171,800)
Total assets less current liabilities
(77,024)
(56,024)
Creditors: amounts falling due after more than one year
5
(26,552)
(47,552)
Net liabilities
(103,576)
(103,576)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(103,776)
(103,776)
Total equity
(103,576)
(103,576)

The notes on pages 2 to 4 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 February 2025 and are signed on its behalf by:
Mr J M Tomlinson
Director
Company registration number 10423107 (England and Wales)
PARTNERSHIP4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Partnership4 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lomeshaye Business Village, Turner Road, Nelson, Lancashire, BB9 7DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company meets its day to day working capital requirement through loans from its directors and a former shareholder. The directors and former shareholder have indicated that they will not withdraw this support.true

 

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support.

1.3
Fixed asset investments

Investments in subsidiary undertakings are stated at cost less provision for diminution in value.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PARTNERSHIP4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
115,776
115,776
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
69,000
48,000
Other creditors
123,800
123,800
192,800
171,800
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
26,552
47,552
PARTNERSHIP4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
6
Secured debts

The following secured debts are included within creditors:

 

Other loans £50,552 (2023 - £71,552)

 

The other loans are secured by debentures over the assets of two subsidiary companies.

7
Related party disclosures

Included in creditors are loans from the directors of £99,800 (2023 - £99,800). The loans are interest free and have no set repayment date.

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