Partizan Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02567243

Partizan Limited

Filleted Unaudited Accounts

31 December 2024

Partizan Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		22,153	36,185

Current assets

Work in progress		724,315	27,759
Debtors	6	1,023,791	1,014,359
Cash at bank and in hand		885,118	1,466,739
		------------	------------
		2,633,224	2,508,857

Creditors: amounts falling due within one year	7	( 2,530,732)		( 2,366,101)
		------------		------------
Net current assets			102,492	142,756
			---------	---------
Total assets less current liabilities			124,645	178,941
			---------	---------
Net assets			124,645	178,941
			---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	123,645	177,941
	---------	---------
Shareholders funds	124,645	178,941
	---------	---------

These accounts 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Partizan Limited

Statement of Financial Position (continued)

31 December 2024

These accounts were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

J Pitt
Director

Company registration number: 02567243

Partizan Limited

Notes to the Accounts

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 19-23 Kingsland Road, London, E2 8AA.

2. Statement of compliance

These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

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.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Fixtures & Fittings	-	25% reducing balance
Equipment	-	25% reducing balance
Leasehold Improvements	-	20% straight line

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Work in progress

Work in progress represents costs incurred on long term contracts, less, where appropriate, provision for any foreseeable losses, which has not yet been billed nor is yet able to be billed.

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. Trade and other debtors Trade and other debtors are recognised and carried forward at invoiced amounts less provisions for any doubtful debts. Bad debts are written off when identified. Cash and cash equivalents Cash and cash equivalents are included in the balance sheet at cost. Cash and cash equivalents comprise cash at bank and in hand and short term deposits with an original maturity of three months or less.

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 persons employed by the company during the year amounted to 18 (2023: 19 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Leasehold Improvements	Total
	£	£	£	£
Cost
At 1 January 2024	75,109	41,081	62,536	178,726
Additions	6,115	–	–	6,115
Disposals	( 38,123)	( 31,365)	–	( 69,488)
	--------	--------	--------	---------
At 31 December 2024	43,101	9,716	62,536	115,353
	--------	--------	--------	---------
Depreciation
At 1 January 2024	50,013	29,992	62,536	142,541
Charge for the year	6,220	1,166	–	7,386
Disposals	( 31,790)	( 24,937)	–	( 56,727)
	--------	--------	--------	---------
At 31 December 2024	24,443	6,221	62,536	93,200
	--------	--------	--------	---------
Carrying amount
At 31 December 2024	18,658	3,495	–	22,153
	--------	--------	--------	---------
At 31 December 2023	25,096	11,089	–	36,185
	--------	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	727,558	173,989
Amounts owed by group undertakings and undertakings in which the company has a participating interest	84,944	187,808
Other debtors	211,289	652,562
	------------	------------
	1,023,791	1,014,359
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	417,940	595,605
Amounts owed to group undertakings	22,297	158,094
Accruals and deferred income	1,767,990	1,233,214
Corporation tax	4,360	72,501
Social security and other taxes	293,645	156,687
Dividends payable	24,500	150,000
	------------	------------
	2,530,732	2,366,101
	------------	------------

8. Related party transactions

Key management personnel compensation The remuneration of directors and other members of key management during the year was as follows:

	2024	2023
	£	£
Aggregate remuneration	532,320	747,728
	---------	---------
Sales	532,320	747,728
	---------	---------

The company has taken advantage of Section 33 of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

9. Controlling party

The directors note that there is no one ultimate controlling party.