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Registered number: 11847490










PRATAP PARTNERSHIP LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

 
PRATAP PARTNERSHIP LTD
REGISTERED NUMBER: 11847490

BALANCE SHEET
AS AT 28 FEBRUARY 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,468
24,531

Current assets
  

Debtors: amounts falling due within one year
 5 
281,711
531,101

Cash at bank and in hand
  
649,613
772,601

  
931,324
1,303,702

Creditors: amounts falling due within one year
 6 
(406,073)
(732,770)

Net current assets
  
 
 
525,251
 
 
570,932

Total assets less current liabilities
  
544,719
595,463

Provisions for liabilities
  

Deferred tax
 7 
(3,396)
(4,587)

Net assets
  
541,323
590,876


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
541,222
590,775

  
541,323
590,876


Page 1

 
PRATAP PARTNERSHIP LTD
REGISTERED NUMBER: 11847490
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2025.




NR Pratap
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PRATAP PARTNERSHIP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

Pratap Partnership Ltd is a private Company limited by shares, incorporated in England and Wales (registered number: 11847490). Its registered office is Chippendale Suite, The Nostell Priory Estate Yard, Nostell, Wakefield, West Yorkshire, WF4 1AB. The principal activity of the Company throughout the year continued to be that of recruitment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

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 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.

Page 3

 
PRATAP PARTNERSHIP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
33%
straight line
Other fixed assets
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PRATAP PARTNERSHIP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2024 - 18).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 29 February 2024
19,623
41,631
11,010
72,264


Additions
-
5,055
-
5,055



At 28 February 2025

19,623
46,686
11,010
77,319



Depreciation


At 29 February 2024
7,727
33,357
6,649
47,733


Charge for the year on owned assets
2,379
6,866
873
10,118



At 28 February 2025

10,106
40,223
7,522
57,851



Net book value



At 28 February 2025
9,517
6,463
3,488
19,468



At 28 February 2024
11,896
8,274
4,361
24,531

Page 5

 
PRATAP PARTNERSHIP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Debtors

2025
2024
£
£


Trade debtors
251,229
499,544

Other debtors
966
2,498

Prepayments and accrued income
29,516
29,059

281,711
531,101



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
31,332
21,980

Corporation tax
126,452
278,835

Other taxation and social security
97,981
149,803

Other creditors
11,252
65,377

Accruals and deferred income
139,056
216,775

406,073
732,770



7.


Deferred taxation




2025
2024


£

£






At beginning of year
(4,587)
(6,551)


Charged to the Statement of Comprehensive Income
1,191
1,964



At end of year
(3,396)
(4,587)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
3,609
4,835

Pension surplus
(213)
(248)

3,396
4,587

Page 6

 
PRATAP PARTNERSHIP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £93,614 (2024: £91,245). Contributions totalling £854 (2024: £992) were payable to the fund at the Balance Sheet date and are included in creditors.


9.


Related party transactions

The entire share capital of the Company is owned by Pratap Partnership Employee-Ownership Trust ("the Trust"). The Trust holds shares for the future benefit of the employees of the Company. The shares are held by Pratap Partnership Trustees Limited in its capacity as corporate trustee of the Trust. During the year the company made contributions of £405,000 to the Trust.
The company does not control the Trust and so consolidated accounts have not been prepared. 


10.


Controlling party

Pratap Partnership Employee-Ownership Trust is the beneficial owner of the whole of the issued share capital of the Company. The shares are held by Paratap Partnership Trustees Limited in its capacity of corporate trustee of the Trust. 

 
Page 7