Company registration number 06567936 (England and Wales)
MALDON PARTNERS LIMITED
FINANCIAL STATEMENTS
for the year ended
30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
MALDON PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MALDON PARTNERS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,782
2,613
Investments
4
70,690
41,673
72,472
44,286
Current assets
Debtors
5
78,541
84,834
Cash at bank and in hand
22,517
17,037
101,058
101,871
Creditors: amounts falling due within one year
6
(67,230)
(81,664)
Net current assets
33,828
20,207
Total assets less current liabilities
106,300
64,493
Creditors: amounts falling due after more than one year
7
(149,265)
(120,830)
Net liabilities
(42,965)
(56,337)
Capital and reserves
Called up share capital
8
1,500
1,500
Profit and loss reserves
(44,465)
(57,837)
Total equity
(42,965)
(56,337)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MALDON PARTNERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
M M Brangstrup
Director
Company registration number 06567936 (England and Wales)
MALDON PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Maldon Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Summit House, 170 Finchley Road, London, NW3 6BP. The business address is 199 Bishopsgate, London, EC2M 3TY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, despite the deficit on the balance sheet. This is because the shareholders have undertaken to support the company in meeting any liabilities it has in the future as they fall due. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% straight line
Computer equipment
33.3% straight line
Bicycles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
MALDON PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
MALDON PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
Bicycles
Total
£
£
£
Cost
At 1 May 2023
41,092
2,977
44,069
Additions
928
928
At 30 April 2024
42,020
2,977
44,997
Depreciation and impairment
At 1 May 2023
39,285
2,171
41,456
Depreciation charged in the year
1,015
744
1,759
At 30 April 2024
40,300
2,915
43,215
Carrying amount
At 30 April 2024
1,720
62
1,782
At 30 April 2023
1,807
806
2,613
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
3
Other investments other than loans
70,689
41,670
70,690
41,673
Fixed asset investments not carried at market value
The investments in group companies and the non listed investments (other investments other than loans) are measured under the cost model, with the latter accounted for as intangible assets under Section 18 of FRS 102 and presented as fixed asset investments based on the intended use of the assets.
MALDON PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
Non listed investments
Total
£
£
£
Cost or valuation
At 1 May 2023
3
41,670
41,673
Additions
-
149,004
149,004
Disposals
(2)
(119,985)
(119,987)
At 30 April 2024
1
70,689
70,690
Carrying amount
At 30 April 2024
1
70,689
70,690
At 30 April 2023
3
41,670
41,673
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
600
24,060
Other debtors
77,941
60,774
78,541
84,834
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,597
35,102
Trade creditors
4,572
1,320
Taxation and social security
14,170
478
Other creditors
42,891
44,764
67,230
81,664
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
149,265
120,830
MALDON PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
500
500
500
500
Ordinary B shares of £1 each
500
500
500
500
Ordinary C shares of £1 each
500
500
500
500
1,500
1,500
1,500
1,500
9
Directors' transactions
During the year loans of £67,266 were made to to the directors. The terms were such that interest was charged at 2.25% on the average balance and they were repayable on demand. The loans were fully repaid in January 2025.