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REGISTERED NUMBER: 05357998 (England and Wales)















AUDIT PARTNERSHIP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUDIT PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs P L Cook
J F Cook





SECRETARY: Mrs P L Cook





REGISTERED OFFICE: 9 Fusion Court
Aberford Road
Garforth
Leeds
West Yorkshire
LS25 2GH





REGISTERED NUMBER: 05357998 (England and Wales)





AUDITORS: DSC Accountants Ltd
Chartered Accountants
Statutory Auditors
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 921
Tangible assets 5 380,019 100,946
380,019 101,867

CURRENT ASSETS
Debtors 6 4,481,090 1,412,963
Prepayments and accrued income 1,796,749 1,604,684
Cash at bank 630,455 793,703
6,908,294 3,811,350
CREDITORS
Amounts falling due within one year 7 1,961,174 462,874
NET CURRENT ASSETS 4,947,120 3,348,476
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,327,139

3,450,343

PROVISIONS FOR LIABILITIES (2,648 ) -

ACCRUALS AND DEFERRED INCOME (191,925 ) (231,105 )
NET ASSETS 5,132,566 3,219,238

CAPITAL AND RESERVES
Called up share capital 600 600
Share premium 286,201 286,201
Capital redemption reserve 700 700
Retained earnings 4,845,065 2,931,737
5,132,566 3,219,238

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:




J F Cook - Director


AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Audit Partnership 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.

Preparation of consolidated financial statements
The financial statements contain information about Audit Partnership Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, H5 Group Limited, 9 Fusion Court, Aberford Road, Garforth, Leeds, LS25 2GH.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised evenly over their estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 30% Straight Line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 172 (2023 - 134 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 4,603
AMORTISATION
At 1 April 2023 3,682
Charge for year 921
At 31 March 2024 4,603
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 921

AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 615,770
Additions 371,331
Disposals (15,191 )
At 31 March 2024 971,910
DEPRECIATION
At 1 April 2023 514,824
Charge for year 80,343
Eliminated on disposal (3,276 )
At 31 March 2024 591,891
NET BOOK VALUE
At 31 March 2024 380,019
At 31 March 2023 100,946

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,875,964 1,042,050
Other debtors 2,605,126 370,913
4,481,090 1,412,963

Included within other debtors are monies owing from related parties; companies under common control. At the balance sheet date the balance was £2,589,540 (2023: £370,913 monies owed to related parties). No interest has been charged in respect of these loans.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 108,386 62,789
Taxation and social security 677,973 399,607
Other creditors 1,174,815 478
1,961,174 462,874

Included within other creditors are monies owing to related parties; companies under common control. At the
balance sheet date the balance was £1,150,000 (2023: £NIL monies owed to related parties). No interest has been charged in respect of these loans.

AUDIT PARTNERSHIP LIMITED (REGISTERED NUMBER: 05357998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)
for and on behalf of DSC Accountants Ltd

9. ULTIMATE CONTROLLING PARTY

The Company's parent company is H5 Group Limited, a limited company incorporated in England and Wales with a registered office of 9 Fusion Court, Aberford Road, Garforth, Leeds, West Yorkshire, LS25 2GH. The parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member is H5 Group Limited. The Company's ultimate parent company is H5 Group Limited and ultimate controlling party is the directors and shareholders of H5 Group Limited.