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COMPANY REGISTRATION NUMBER: 06526742
Partnerships For Renewables Limited
Unaudited financial statements
31 March 2025
Partnerships For Renewables Limited
Statement of financial position
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
140,200
144,193
Investments
6
100
100
---------
---------
140,300
144,293
Current assets
Debtors
7
1,228,790
684,314
Cash at bank and in hand
821,926
1,010,132
-----------
-----------
2,050,716
1,694,446
Creditors: Amounts falling due within one year
8
( 243,596)
( 186,414)
-----------
-----------
Net current assets
1,807,120
1,508,032
-----------
-----------
Total assets less current liabilities
1,947,420
1,652,325
Provisions
Taxation including deferred tax
( 10,385)
( 13,588)
-----------
-----------
Net assets
1,937,035
1,638,737
-----------
-----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,937,033
1,638,735
-----------
-----------
Shareholders funds
1,937,035
1,638,737
-----------
-----------
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 income statement has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Partnerships For Renewables Limited
Statement of financial position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 29 August 2025 , and are signed on behalf of the board by:
Mr S Vince
Director
Company registration number: 06526742
Partnerships For Renewables Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 Edison Way, Gapton Hall Industrial Estate, Great Yarmouth, Norfolk, NR31 0NG, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, '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
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 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.
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:
Freehold property
-
20% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Motor vehicles
-
33% straight line
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 7 (2024: 5 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 April 2024
137,863
41,344
4,030
126,637
11,997
321,871
Additions
1,716
42,900
731
45,347
Disposals
( 39,238)
( 19,400)
( 1,725)
( 40,267)
( 10,981)
( 111,611)
---------
-------
------
---------
-------
---------
At 31 March 2025
98,625
23,660
2,305
129,270
1,747
255,607
---------
-------
------
---------
-------
---------
Depreciation
At 1 April 2024
50,075
32,875
2,471
82,146
10,111
177,678
Charge for the year
6,127
5,711
890
35,372
1,240
49,340
Disposals
( 39,238)
( 19,400)
( 1,725)
( 40,267)
( 10,981)
( 111,611)
---------
-------
------
---------
-------
---------
At 31 March 2025
16,964
19,186
1,636
77,251
370
115,407
---------
-------
------
---------
-------
---------
Carrying amount
At 31 March 2025
81,661
4,474
669
52,019
1,377
140,200
---------
-------
------
---------
-------
---------
At 31 March 2024
87,788
8,469
1,559
44,491
1,886
144,193
---------
-------
------
---------
-------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2024 and 31 March 2025
100
----
Impairment
At 1 April 2024 and 31 March 2025
----
Carrying amount
At 31 March 2025
100
----
At 31 March 2024
100
----
7. Debtors
2025
2024
£
£
Trade debtors
64,337
59,386
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,153,228
576,834
Other debtors
11,225
48,094
-----------
---------
1,228,790
684,314
-----------
---------
8. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
3,951
2,085
Social security and other taxes
165,212
161,153
Other creditors
74,433
23,176
---------
---------
243,596
186,414
---------
---------
9. Director's advances, credits and guarantees
Amounts advanced to director by the company totalled £nil (2024:£40,000) No interest will be charged on these advances.