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REGISTERED NUMBER: 03220364 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 August 2024

for

FRANCIS PEARCE PARTNERSHIP LIMITED

FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANCIS PEARCE PARTNERSHIP LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: G R Hill
V J Rolandi
N A Hutton
T R Wheeler





SECRETARY: N A Hutton





REGISTERED OFFICE: The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA





REGISTERED NUMBER: 03220364 (England and Wales)





ACCOUNTANTS: Brown McLeod Limited
Chartered Accountants
The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA

FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 120,601 208,449

CURRENT ASSETS
Stocks 500,000 870,000
Debtors 5 111,439 330,236
Cash at bank 1,024,854 307,793
1,636,293 1,508,029
CREDITORS
Amounts falling due within one year 6 292,706 370,812
NET CURRENT ASSETS 1,343,587 1,137,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,464,188

1,345,666

CREDITORS
Amounts falling due after more than one year 7 (11,510 ) (33,836 )

PROVISIONS FOR LIABILITIES (2,429 ) (2,429 )
NET ASSETS 1,450,249 1,309,401

CAPITAL AND RESERVES
Called up share capital 26 26
Share premium 3,998 3,998
Capital redemption reserve 24 24
Retained earnings 1,446,201 1,305,353
1,450,249 1,309,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)

Balance Sheet - continued
31 August 2024


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 28 March 2025 and were signed on its behalf by:





G R Hill - Director


FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Francis Pearce 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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 the 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.

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.

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 - 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

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 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 426,507
Disposals (76,440 )
At 31 August 2024 350,067
DEPRECIATION
At 1 September 2023 218,058
Charge for year 39,509
Eliminated on disposal (28,101 )
At 31 August 2024 229,466
NET BOOK VALUE
At 31 August 2024 120,601
At 31 August 2023 208,449

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 43,927 284,597
Other debtors 67,512 45,639
111,439 330,236

FRANCIS PEARCE PARTNERSHIP LIMITED (REGISTERED NUMBER: 03220364)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 22,326 55,570
Trade creditors 41,526 55,121
Taxation and social security 201,645 240,695
Other creditors 27,209 19,426
292,706 370,812

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 11,510 33,836

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 22,326 55,570
Between one and five years 11,510 33,836
33,836 89,406

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 30,956 30,956
Between one and five years 3,191 34,147
34,147 65,103

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, included within debtors falling due under one year were amounts due to the company from a director £55,254 (2023 - £694).The loan was repaid within 9 months of the year end.

10. ULTIMATE CONTROLLING PARTY

The controlling party is the directors acting in concert.