Company Registration No. 10505405 (England and Wales)
Partnership Editions limited
Unaudited accounts
for the year ended 31 December 2024
Partnership Editions limited
Unaudited accounts
Contents
Partnership Editions limited
Company Information
for the year ended 31 December 2024
Company Number
10505405 (England and Wales)
Registered Office
STUDIO 22 HACKNEY DOWNS STUDIOS
LONDON
E8 2BT
UNITED KINGDOM
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Partnership Editions limited
Statement of financial position
as at 31 December 2024
Tangible assets
2,351
2,185
Cash at bank and in hand
276,672
197,020
Creditors: amounts falling due within one year
(145,878)
(98,964)
Net current assets
151,001
109,510
Total assets less current liabilities
153,352
111,695
Provisions for liabilities
Net assets
152,764
111,695
Called up share capital
1
1
Profit and loss account
152,763
111,694
Shareholders' funds
152,764
111,695
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 September 2025 and were signed on its behalf by
Georgia Spray
Director
Company Registration No. 10505405
Partnership Editions limited
Notes to the Accounts
for the year ended 31 December 2024
Partnership Editions limited is a private company, limited by shares, registered in England and Wales, registration number 10505405. The registered office is STUDIO 22 HACKNEY DOWNS STUDIOS, LONDON, E8 2BT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
The financial statements have been prepared on a going concern basis. The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore have adopted the going concern basis of accounting in preparing the financial statements.
Turnover is recognised to the extent that it is probable that the economic benefit will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Where payments are received from customers in advance of the services being provided, these payments are accounted for as deferred income and included within creditors.
Interest income is recognised in profit or loss using the effective interest method.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Partnership Editions limited
Notes to the Accounts
for the year ended 31 December 2024
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity 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.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
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.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or 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.
Income tax expense represents the sum of the tax payable and deferred tax.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The tax expense for the year comprises current. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Partnership Editions limited
Notes to the Accounts
for the year ended 31 December 2024
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
10,485
-
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,732
4,171
Taxes and social security
22,070
1,038
Other creditors
46,671
52,434
Loans from directors
20,425
9,689
Deferred income
12,220
20,683
7
Average number of employees
During the year the average number of employees was 3 (2023: 5).