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Registration number: 04441237

Touchstone Partners Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Touchstone Partners Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Touchstone Partners Limited

(Registration number: 04441237)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,678

9,940

Investments

5

5,000

5,000

 

8,678

14,940

Current assets

 

Debtors

6

395,100

364,455

Cash at bank and in hand

 

42,104

121,136

 

437,204

485,591

Creditors: Amounts falling due within one year

7

(306,465)

(414,962)

Net current assets

 

130,739

70,629

Total assets less current liabilities

 

139,417

85,569

Creditors: Amounts falling due after more than one year

7

(6,667)

-

Net assets

 

132,750

85,569

Capital and reserves

 

Called up share capital

8

6,668

6,668

Capital redemption reserve

3,334

3,334

Retained earnings

122,748

75,567

Shareholders' funds

 

132,750

85,569

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.

 

Touchstone Partners Limited

(Registration number: 04441237)
Balance Sheet as at 30 September 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2025 and signed on its behalf by:
 

.........................................
Mr John Andrew Darby
Director

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Hexagon Business Centre
4 Witan Way
Witney
OX28 6FF
United Kingdom

These financial statements were authorised for issue by the Board on 3 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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 tax. Tax is recognised in profit or loss, except that a change 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.

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% & 50% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 11).

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

108,516

108,516

Additions

1,591

1,591

At 30 September 2024

110,107

110,107

Depreciation

At 1 October 2023

98,576

98,576

Charge for the year

7,853

7,853

At 30 September 2024

106,429

106,429

Carrying amount

At 30 September 2024

3,678

3,678

At 30 September 2023

9,940

9,940

5

Investments

2024
£

2023
£

Investments in subsidiaries

5,000

5,000

Subsidiaries

£

Cost or valuation

At 1 October 2023

5,000

Provision

Carrying amount

At 30 September 2024

5,000

At 30 September 2023

5,000

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Shoppercentric Limited

Hexagon Business Centre
4 Witan Way
Witney
OX28 6FF

England

ordinary

100%

100%

Subsidiary undertakings

Shoppercentric Limited

The principal activity of Shoppercentric Limited is market research. The profit for the financial period of Shoppercentric Limited was £49,326 and the aggregate amount of Capital and reserves at the end of the period was £1,001.

 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Trade debtors

332,194

315,107

Prepayments

12,184

6,709

Other debtors

50,722

42,639

395,100

364,455

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

-

Trade creditors

 

121,848

68,400

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

6,172

25,003

Taxation and social security

 

37,777

102,057

Accruals and deferred income

 

63,814

75,875

Other creditors

 

66,854

143,627

 

306,465

414,962

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

6,667

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

6,668

6,668

6,668

6,668

       
 

Touchstone Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,667

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

-

10

Related party transactions

Key management personnel

During the year dividends totalling £145,000 were paid to the directors.

Summary of transactions with subsidiaries

Shoppercentric Limited Management charges and transfer of costs

Income and receivables from related parties

2024

Subsidiary
£

Receipt of services

925,624

2023

Subsidiary
£

Receipt of services

911,321

Expenditure with and payables to related parties

2024

2023

Subsidiary
£

Amounts payable to related party

3