Registration number:
Confluence Partnerships Limited
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Confluence Partnerships Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Confluence Partnerships Limited
Company Information
Directors |
R Fitzpatrick L L Thorne-Kastner |
Registered office |
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Accountants |
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Confluence Partnerships Limited
Statement of Financial Position as at 30 September 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
71,113 |
74,964 |
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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:
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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
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R Fitzpatrick
Director
Company registration number: 07020482
Confluence Partnerships Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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.
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
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Furniture, fittings and equipment |
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Cost or valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Debtors |
2024 |
(As restated) |
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Trade debtors |
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Other debtors |
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Confluence Partnerships Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
(As restated) |
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Loans and borrowings |
- |
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Taxation and social security |
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Other creditors |
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Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Finance lease liabilities |
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Obligations under finance leases were secured on the assets concerned.
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.
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.