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REGISTERED NUMBER: 08625130 (England and Wales)










Partisan Products Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Partisan Products Limited (Registered number: 08625130)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Partisan Products Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr Neil Andrew Cordwell
Mr Michael Ian Gregory





REGISTERED OFFICE: Unit 12 Lodge Bank Industrial Estate
Crown Lane
Horwich
Bolton
BL6 5HY





REGISTERED NUMBER: 08625130 (England and Wales)






Partisan Products Limited (Registered number: 08625130)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 88,365 94,942

CURRENT ASSETS
Stocks 6 674,389 778,295
Debtors 7 614,850 686,649
Cash at bank and in hand 26,276 58,737
1,315,515 1,523,681
CREDITORS
Amounts falling due within one year 8 (435,018 ) (600,870 )
NET CURRENT ASSETS 880,497 922,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

968,862

1,017,753

CREDITORS
Amounts falling due after more than one
year

9

-

(2,965

)

PROVISIONS FOR LIABILITIES (17,290 ) (17,683 )
NET ASSETS 951,572 997,105

CAPITAL AND RESERVES
Called up share capital 100,002 100,002
Other reserves 11 (20,914 ) (23,517 )
Retained earnings 11 872,484 920,620
951,572 997,105

Partisan Products Limited (Registered number: 08625130)

Balance Sheet - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 March 2025 and were signed on its behalf by:




Mr Neil Andrew Cordwell - Director



Mr Michael Ian Gregory - Director


Partisan Products Limited (Registered number: 08625130)

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

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 601
Merlin Park
Ringtail Road
Burscough
Lancashire
L40 8JY

2. STATEMENT OF COMPLIANCE

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. 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).

3. 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.

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.

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.

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.

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 straight-line basis over the period of the lease.

Partisan Products Limited (Registered number: 08625130)

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

3. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

CASH & CASH EQUIVALENT
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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.


Partisan Products Limited (Registered number: 08625130)

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

3. 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.

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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

Partisan Products Limited (Registered number: 08625130)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 16,398 18,698 57,873 41,131 134,100
Additions - - 1,275 6,963 8,238
At 31 December 2024 16,398 18,698 59,148 48,094 142,338
DEPRECIATION
At 1 January 2024 3,733 4,694 12,008 18,723 39,158
Charge for year 1,639 2,100 7,036 4,040 14,815
At 31 December 2024 5,372 6,794 19,044 22,763 53,973
NET BOOK VALUE
At 31 December 2024 11,026 11,904 40,104 25,331 88,365
At 31 December 2023 12,665 14,004 45,865 22,408 94,942

6. STOCKS
2024 2023
£    £   
Stocks 674,389 778,295

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 555,843 643,417
Amounts owed by participating interests 1,198 1,125
Other debtors 7,500 7,500
Directors' current accounts 6,928 898
Prepayments 43,381 33,709
614,850 686,649

Partisan Products Limited (Registered number: 08625130)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 10) 243,102 312,486
Hire purchase contracts 2,965 2,966
Trade creditors 69,643 79,974
Corporation tax 46,894 110,112
PAYE & NI 19,293 20,133
VAT 38,793 34,167
Credit card account 640 15,332
Pension contributions unpaid 2,546 2,183
Directors' current accounts 4,244 17,005
Accrued expenses 6,898 6,512
435,018 600,870

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 2,965

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Factor creditor 243,102 312,486

11. RESERVES

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Foreign currency translation (gains)/losses - (£2,603)