Company registration number 11823357 (England and Wales)
ARISTOTLE PARTNERSHIPS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ARISTOTLE PARTNERSHIPS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
ARISTOTLE PARTNERSHIPS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
612
Investments
5
208,768
612
208,768
Current assets
Debtors
7
328,905
520,666
Investments
8
109,135
109,135
Cash at bank and in hand
6,003
2,657
444,043
632,458
Creditors: amounts falling due within one year
9
(761,393)
(692,822)
Net current liabilities
(317,350)
(60,364)
Net (liabilities)/assets
(316,738)
148,404
Capital and reserves
Called up share capital
1,008
1,008
Profit and loss reserves
(317,746)
147,396
Total equity
(316,738)
148,404
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 24 February 2025 and are signed on its behalf by:
Mr B J Allen
Director
Company registration number 11823357 (England and Wales)
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Aristotle Partnerships Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Reginald Arthur House, Percy Street, Rotherham, South Yorkshire, S65 1ED.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument IssuesThe disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;
Section 26 ‘Share based Payment’ Share based payment arrangements required under FRS 102 paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
Section 33 ‘Related Party Disclosures’ Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Nicholas Associates Holdings Limited. These consolidated financial statements are available from its registered office, Reginald Arthur House, Percy Street, Rotherham, South Yorkshire, S65 1ED.
1.2
Going concern
Although the company has negative reserves, the company has gone through a period of restructuring and is fully supported by its parent company. As such the directors have a reasonable expectation that the company has the resources to continue to operate for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Debtors and creditors receivable/payable with a year
Debtors and creditors are recorded at transaction price receivable or payable within one year. Any losses arising from impairment are recognised in the profit and loss account within administrative expenses.
Investments
Investments are initially recognised at fair value which is the transaction price excluding transaction costs. They are subsequently measured at fair value through profit or loss if the shares are publicly traded or their fair value if this can otherwise be measured reliably. Other investments are measured at cost less impairment.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
Additions
913
At 31 December 2023
913
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
301
At 31 December 2023
301
Carrying amount
At 31 December 2023
612
At 31 December 2022
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
208,768
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023 & 31 December 2023
208,768
Impairment
At 1 January 2023
-
Impairment losses
208,768
At 31 December 2023
208,768
Carrying amount
At 31 December 2023
-
At 31 December 2022
208,768
6
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
JMC Aviation Limited
Unit 1 First Floor, Exeter International Office Park, Clyst Honiton, Devon, EX5 2HL
Ordinary shares
100.00
Apex Managed Staffing Limited
Newland House, Weaver Road, Lincoln, Lincolnshire, LN6 3QN
ANA Shares
72.30
Syntax Consultancy Limited
Derwent Business Centre, Unit 30, Clarke Street, Derby, Derbyshire, DE1 2BU
ANA Shares
51.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
JMC Aviation Limited
4,539,681
2,137,277
Apex Managed Staffing Limited
(1,033,799)
(1,039,799)
Syntax Consultancy Limited
361,891
239,737
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
38,040
Amounts owed by group undertakings
104
Other debtors
290,865
520,562
328,905
520,666
8
Current asset investments
2023
2022
£
£
Shares in group undertakings
109,135
109,135
9
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
38,733
16,722
Amounts owed to group undertakings
712,261
666,965
Taxation and social security
6,899
Other creditors
3,500
9,135
761,393
692,822
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Russell Eley FCCA
Statutory Auditor:
Xeinadin Audit Ltd
Date of audit report:
24 February 2025
11
Financial commitments, guarantees and contingent liabilities
The company has entered into separate unlimited cross and multilateral guarantees in respect of any indebtedness between JMC Aviation Limited, and its invoice discounting company in relation to amounts advanced under invoice financing agreements. The total contingent liability of the company under guarantees at 31 December 2023 was £8,791,353 (2022: £5,107,708).
12
Events after the reporting date
After the yearend date the company has disposed its investment in Syntax Consultancy Limited, Apex Managed Staffing Limited and JMC Aviation Limited.
ARISTOTLE PARTNERSHIPS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
13
Parent company
The company's ultimate parent company is Nicholas Associates Holdings Limited. The controlling party is Nicholas Cragg, the majority shareholder and a director of Nicholas Associates Holdings Limited.
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