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Registration number: 07020482

Confluence Partnerships Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Confluence Partnerships Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Confluence Partnerships Limited

Company Information

Directors

R Fitzpatrick

L L Thorne-Kastner

Registered office

30 Lynmouth Road
Walthamstow
London
E17 8AF

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Confluence Partnerships Limited

Statement of Financial Position as at 30 September 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

47

627

Current assets

 

Debtors

5

50,879

49,263

Cash at bank and in hand

 

28,469

47,115

 

79,348

96,378

Creditors: Amounts falling due within one year

6

(8,173)

(21,885)

Net current assets

 

71,175

74,493

Total assets less current liabilities

 

71,222

75,120

Provisions for liabilities

(9)

(56)

Net assets

 

71,213

75,064

Capital and reserves

 

Called up share capital

100

100

Retained earnings

71,113

74,964

Shareholders' funds

 

71,213

75,064

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Confluence Partnerships Limited

Statement of Financial Position as at 30 September 2024

Approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

.........................................

R Fitzpatrick

Director

Company registration number: 07020482

 

Confluence Partnerships Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 Lynmouth Road
Walthamstow
London
E17 8AF

The principal activity of the company during the year was that of the provision of consultancy services to mental health, wellbeing and criminal justice organisations.

2

Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a loss for the year ended 30 September 2024 but had net assets amounting to £71,213 at that date, including cash at bank of £28,469.

The directors expect to agree significant contracts in the coming year to 30 September 2025.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

The company recognises revenue over the period in which the consulting services are delivered.

 

Confluence Partnerships Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the year end date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% to 33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Confluence Partnerships Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year, was 3 (2023 - 3)

4

Tangible assets

Furniture, fittings and equipment
 £

Cost or valuation

At 1 October 2023

4,183

At 30 September 2024

4,183

Depreciation

At 1 October 2023

3,557

Charge for the year

579

At 30 September 2024

4,136

Carrying amount

At 30 September 2024

47

At 30 September 2023

627

5

Debtors

2024
£

(As restated)

2023
£

Trade debtors

17,270

23,164

Other debtors

33,609

26,099

50,879

49,263

 

Confluence Partnerships Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Loans and borrowings

7

-

330

Taxation and social security

 

5,373

18,755

Other creditors

 

2,800

2,800

 

8,173

21,885

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

-

330

Obligations under finance leases were secured on the assets concerned.

8

Transactions with directors

At 30 September 2024 an amount of £32,840 (2023: £3,855) was due to the company from directors. During the year advances of £53,329 and repayments of £24,344 were made. Interest of £559 (2023: £256) has been charged at 2.25% per annum. There are no set terms in place.
 

9

Prior period adjustment

During the year the directors identified that certain consultancy services delivered during the year ended 30 September 2023 had been omitted from revenue recognised in that year. This has been corrected in these financial statements and the comparatives have been restated.

The effect of this adjustment is to increase the profit for the year ended 30 September 2023 by £17,169 and to increase the net assets at that date by £17,169 from that previously reported.