5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 669,020 669,020 669,020 xbrli:pure xbrli:shares iso4217:GBP 12241844 2023-06-01 2024-05-31 12241844 2024-05-31 12241844 2023-05-31 12241844 2022-06-01 2023-05-31 12241844 2023-05-31 12241844 2022-05-31 12241844 bus:RegisteredOffice 2023-06-01 2024-05-31 12241844 bus:LeadAgentIfApplicable 2023-06-01 2024-05-31 12241844 bus:Director1 2023-06-01 2024-05-31 12241844 bus:Director2 2023-06-01 2024-05-31 12241844 bus:Director3 2023-06-01 2024-05-31 12241844 bus:Director4 2023-06-01 2024-05-31 12241844 bus:Director5 2023-06-01 2024-05-31 12241844 core:WithinOneYear 2024-05-31 12241844 core:WithinOneYear 2023-05-31 12241844 core:ShareCapital 2024-05-31 12241844 core:ShareCapital 2023-05-31 12241844 core:RetainedEarningsAccumulatedLosses 2024-05-31 12241844 core:RetainedEarningsAccumulatedLosses 2023-05-31 12241844 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 12241844 core:Non-currentFinancialInstruments 2024-05-31 12241844 core:Non-currentFinancialInstruments 2023-05-31 12241844 bus:SmallEntities 2023-06-01 2024-05-31 12241844 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12241844 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12241844 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12241844 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 12241844
Partneriaeth Asbri Cyf
Filleted Unaudited Financial Statements
For the year ended
31 May 2024
Partneriaeth Asbri Cyf
Financial Statements
Year ended 31 May 2024
Contents
Page
Officers and professional advisers
1
Report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Partneriaeth Asbri Cyf
Officers and Professional Advisers
The board of directors
Mr P E Baxter
Mr R Bowen
Mr B Davies
Mr J L Hurley
Mr P J Sulley
Registered office
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
Accountants
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
Bankers
Lloyds Bank Plc
31 Queen St
Cardiff
CF10 2AG
Partneriaeth Asbri Cyf
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Partneriaeth Asbri Cyf
Year ended 31 May 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Clay Shaw Thomas Ltd
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
26 February 2025
Partneriaeth Asbri Cyf
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
669,020
669,020
Current assets
Debtors
6
307,721
323,025
Cash at bank and in hand
326,574
209,009
---------
---------
634,295
532,034
Creditors: amounts falling due within one year
7
89,434
114,890
---------
---------
Net current assets
544,861
417,144
-----------
-----------
Total assets less current liabilities
1,213,881
1,086,164
-----------
-----------
Net assets
1,213,881
1,086,164
-----------
-----------
Capital and reserves
Called up share capital
10,001
10,001
Profit and loss account
1,203,880
1,076,163
-----------
-----------
Shareholders funds
1,213,881
1,086,164
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr R Bowen
Mr B Davies
Director
Director
Company registration number: 12241844
Partneriaeth Asbri Cyf
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future and conclude that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 June 2023 and 31 May 2024
669,020
---------
Impairment
At 1 June 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
669,020
---------
At 31 May 2023
669,020
---------
The company owns 100% of the share capital in its subsidiary undertaking, Asbri Planning Limited.
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings
298,474
315,007
Other debtors
9,247
8,018
---------
---------
307,721
323,025
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
88,966
114,676
Other creditors
468
214
-------
---------
89,434
114,890
-------
---------
8. Directors' advances, credits and guarantees
Included in other debtors is a balance due from the directors. During the year the transactions with the directors were as follows:
2024
£
Opening balance due from the directors to the Company
Net advances 1,350
------
Closing balance due from the directors to the Company 1,350
------
This loan was repaid in full after the accounting period
9. Related party transactions
The company has taken exemptions under Section 33 of FRS102 to disclose related party transactions with wholly owned members of a group.
10. Ultimate controlling party
The directors have confirmed that there is no ultimate controlling party.