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REGISTERED NUMBER: 05339656 (England and Wales)















PARTNER COMMERCIAL FINANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

PARTNER COMMERCIAL FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D M Richards
T L Richards





SECRETARY: Kerry Secretarial Services Limited





REGISTERED OFFICE: c/o Cox Costello & Horne
Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ





REGISTERED NUMBER: 05339656 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 480 1,634
Investments 6 112,500 112,500
112,980 114,134

CURRENT ASSETS
Debtors 7 165,769 89,963
Cash at bank - 34,614
165,769 124,577
CREDITORS
Amounts falling due within one year 8 111,719 63,528
NET CURRENT ASSETS 54,050 61,049
TOTAL ASSETS LESS CURRENT LIABILITIES 167,030 175,183

CREDITORS
Amounts falling due after more than one year 9 8,708 18,208
NET ASSETS 158,322 156,975

CAPITAL AND RESERVES
Called up share capital 1,510 1,510
Share premium 32,200 32,200
Capital redemption reserve 190 190
Retained earnings 124,422 123,075
SHAREHOLDERS' FUNDS 158,322 156,975

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 20 February 2025 and were signed on its behalf by:



T L Richards - Director


PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Partner Commercial Finance 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern
The company meets its day-to-day working capital requirements from cash at bank. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover comprises the rendering of services in the ordinary course of the company's activity. Turnover is presented net of value-added tax. The company recognises turnover when the amount of revenue and related costs can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

At the reporting date, management assesses whether there is any indication that goodwill may be impaired. An impairment loss is recognised if the recoverable amount of goodwill is less than its carrying amount.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investments
Participating investment interest is held at cost less accumulated impairment losses.

PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank
Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
-the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 July 2023 100,959
Disposals (100,959 )
At 30 June 2024 -
AMORTISATION
At 1 July 2023 100,959
Eliminated on disposal (100,959 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 July 2023
and 30 June 2024 5,723
DEPRECIATION
At 1 July 2023 4,089
Charge for year 1,154
At 30 June 2024 5,243
NET BOOK VALUE
At 30 June 2024 480
At 30 June 2023 1,634

6. FIXED ASSET INVESTMENTS
Interest in
other
participating
interests
£
COST
At 1 July 2023
and 30 June 2024 112,500
NET BOOK VALUE
At 30 June 2024 112,500
At 30 June 2023 112,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade debtors 2,743 3,612
Other debtors 163,026 86,351
165,769 89,963

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Bank loan and overdraft 21,477 9,500
Trade creditors 916 978
Taxation and social security 27,361 36,713
Other creditors 61,965 16,337
111,719 63,528

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£ £
Bank loan 8,708 18,208

PARTNER COMMERCIAL FINANCE LIMITED (REGISTERED NUMBER: 05339656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank overdraft 11,977 -

The bank overdraft is secured by way of a registered debenture. The debenture contains fixed and floating charges over all the property of the company. Contains a negative pledge.

11. RELATED PARTY DISCLOSURES

At the reporting date, amounts due from related parties were £95,000 (2023: £75,000). Certain directors are common key management personnel. The amounts are unsecured, interest free, have no fixed terms of repayment and considered payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PARTNER COMMERCIAL FINANCE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Partner Commercial Finance Limited for the year ended 30 June 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Partner Commercial Finance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Partner Commercial Finance Limited and state those matters that we have agreed to state to the Board of Directors of Partner Commercial Finance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Partner Commercial Finance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Partner Commercial Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Partner Commercial Finance Limited. You consider that Partner Commercial Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Partner Commercial Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ


20 February 2025