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COMPANY REGISTRATION NUMBER: 04504113
Gentian Partnerships Limited
Filleted Unaudited Financial Statements
31 December 2024
Gentian Partnerships Limited
Balance Sheet
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
7,453
8,711
Investments
6
1,317,016
1,267,026
------------
------------
1,324,469
1,275,737
Current assets
Debtors
7
11,006,151
19,904,996
Cash at bank and in hand
1,926,667
1,887,401
-------------
-------------
12,932,818
21,792,397
Creditors: amounts falling due within one year
8
111,924
371,498
-------------
-------------
Net current assets
12,820,894
21,420,899
-------------
-------------
Total assets less current liabilities
14,145,363
22,696,636
-------------
-------------
Net assets
14,145,363
22,696,636
-------------
-------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
10
14,145,263
22,696,536
-------------
-------------
Shareholders funds
14,145,363
22,696,636
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gentian Partnerships Limited
Balance Sheet (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 9 June 2025 , and are signed on behalf of the board by:
Mr N K Ekins
Director
Company registration number: 04504113
Gentian Partnerships Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with the provision of FRS 102 Section 1A small entities, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents net amounts invoiced during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15 % reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
This consisted of directors only.
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2024 and 31 December 2024
14,556
14,556
--------
--------
Depreciation
At 1 January 2024
5,845
5,845
Charge for the year
1,258
1,258
--------
--------
At 31 December 2024
7,103
7,103
--------
--------
Carrying amount
At 31 December 2024
7,453
7,453
--------
--------
At 31 December 2023
8,711
8,711
--------
--------
6. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 January 2024
102
1,266,924
1,267,026
Additions
50,000
50,000
Disposals
( 10)
( 10)
----
------------
------------
At 31 December 2024
102
1,316,914
1,317,016
----
------------
------------
Impairment
At 1 January 2024 and 31 December 2024
----
------------
------------
Carrying amount
At 31 December 2024
102
1,316,914
1,317,016
----
------------
------------
At 31 December 2023
102
1,266,924
1,267,026
----
------------
------------
The directors consider the value of the investments to be at least equivalent to cost.
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings
2,424,823
3,092,758
Prepayments and accrued income
24,886
30,865
Directors loan account
600,319
Amounts due by related undertakings
8,556,442
16,181,054
-------------
-------------
11,006,151
19,904,996
-------------
-------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,255
Accruals and deferred income
43,027
43,027
Corporation tax
53,412
162,021
Social security and other taxes
9,230
53,472
Amounts due to related undertakings
112,978
---------
---------
111,924
371,498
---------
---------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
A Ordinary shares of £ 1 each
78
78
78
78
C Ordinary shares of £ 1 each
22
22
22
22
----
----
----
----
100
100
100
100
----
----
----
----
10. Reserves
The profit and loss account represents cumulative profits and losses net of dividends that are distributable to shareholders.
11. Contingencies
Gentian Partnerships Limited has an outstanding debenture provided via a cross guarantee against its assets to a related party of which there is common control. There are 5 additional outstanding charges with Barclays Bank plc secured against the shares held in related companies.
12. Directors' advances, credits and guarantees
At the year end there was a balance owed by Mr N K Ekins of £0 (2023: £600,319), by way of a directors loan account. The maximum amount owed during the year was £680,319.
13. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Related Undertakings
165,083
416,833
8,556,325
16,068,075
---------
---------
------------
-------------
The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with any wholly owned subsidiaries within the group.