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REGISTERED NUMBER: 04604621 (England and Wales)




















Financial Statements

for the Year Ended 30 April 2024

for

FURNESS PARTNERSHIP LIMITED

FURNESS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04604621)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FURNESS PARTNERSHIP LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M Furness
P Haines
D McAlpine
L Furness
Ms C J Henry
L D Walter
S Maudling





SECRETARY: P Haines





REGISTERED OFFICE: 20 Britton Street
LONDON
London
EC1M 5TX





REGISTERED NUMBER: 04604621 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

FURNESS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04604621)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,031 15,026

CURRENT ASSETS
Debtors 5 1,990,970 1,904,293
Cash at bank and in hand 2,431,327 2,315,135
4,422,297 4,219,428
CREDITORS
Amounts falling due within one year 6 (801,993 ) (1,045,801 )
NET CURRENT ASSETS 3,620,304 3,173,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,632,335

3,188,653

CAPITAL AND RESERVES
Called up share capital 7 922 922
Share premium 51,918 51,918
Capital redemption reserve 170 170
Retained earnings 3,579,325 3,135,643
SHAREHOLDERS' FUNDS 3,632,335 3,188,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 14 February 2025 and were signed on its behalf by:





M Furness - Director


FURNESS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04604621)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Furness 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
The turnover shown in the profit and loss account represents the total amount earned by the company for goods supplied and services provided, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 10% on cost
Office furniture and equipment - 25% on cost
Computer equipment - Straight line over 3 years

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 34 (2023 - 31 ) .

FURNESS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04604621)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Office
furniture
Leasehold and Computer
Improvements equipment equipment Totals
£    £    £    £   
COST
At 1 May 2023 72,999 156,053 83,990 313,042
Additions - - 10,149 10,149
Disposals - - (12,524 ) (12,524 )
At 30 April 2024 72,999 156,053 81,615 310,667
DEPRECIATION
At 1 May 2023 72,999 152,089 72,928 298,016
Charge for year - 2,608 10,522 13,130
Eliminated on disposal - - (12,510 ) (12,510 )
At 30 April 2024 72,999 154,697 70,940 298,636
NET BOOK VALUE
At 30 April 2024 - 1,356 10,675 12,031
At 30 April 2023 - 3,964 11,062 15,026

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,251,175 1,288,735
Other debtors 739,795 615,558
1,990,970 1,904,293

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 100,555 141,679
Amounts owed to group undertakings 28,498 165,103
Taxation and social security 408,149 413,056
Other creditors 264,791 325,963
801,993 1,045,801

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
830 Ordinary A £1 830 830
92 Ordinary C £1 92 92
922 922

FURNESS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04604621)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. ULTIMATE CONTROLLING PARTY

The controlling party is Furness Partnership TradingInvestments.

The ultimate controlling party is M Furness.