Albany Partners Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08132209

Albany Partners Limited

Filleted Unaudited Financial Statements

31 December 2024

Albany Partners Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Albany Partners Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	115,635	172,857
Investments	6	157,000	157,000
		---------	---------
		272,635	329,857

Current assets

Debtors	7	683,767	600,624
Cash at bank and in hand		994,271	520,307
		------------	------------
		1,678,038	1,120,931

Creditors: amounts falling due within one year	8	459,587	188,501
		------------	------------
Net current assets		1,218,451	932,430
		------------	------------
Total assets less current liabilities		1,491,086	1,262,287

Provisions

Taxation including deferred tax	28,909	43,215
	------------	------------
Net assets	1,462,177	1,219,072
	------------	------------

Capital and reserves

Called up share capital	4	4
Profit and loss account	1,462,173	1,219,068
	------------	------------
Shareholders funds	1,462,177	1,219,072
	------------	------------

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 .

Albany Partners Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements 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 Goodrich

Director

Company registration number: 08132209

Albany Partners 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, Untited Kingdom.

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.

Going concern

The directors have considered the basis of the preparation of the accounts and are satisfied that the accounts should be prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

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 and fittings	-	25% reducing balance
Motor vehicles	-	25% straight line
Equipment	-	33% 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.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 15 (2023: 19 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	6,397	225,601	37,203	269,201
Additions	–	–	5,528	5,528
	-------	---------	--------	---------
At 31 December 2024	6,397	225,601	42,731	274,729
	-------	---------	--------	---------
Depreciation
At 1 January 2024	4,545	66,906	24,893	96,344
Charge for the year	463	56,400	5,887	62,750
	-------	---------	--------	---------
At 31 December 2024	5,008	123,306	30,780	159,094
	-------	---------	--------	---------
Carrying amount
At 31 December 2024	1,389	102,295	11,951	115,635
	-------	---------	--------	---------
At 31 December 2023	1,852	158,695	12,310	172,857
	-------	---------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 January 2024 and 31 December 2024	157,000
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	157,000
	---------
At 31 December 2023	157,000
	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	349,574	319,270
Other debtors	334,193	281,354
	---------	---------
	683,767	600,624
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	37,295	60,651
Corporation tax	194,068	4,210
Social security and other taxes	86,252	78,156
Other creditors	141,972	45,484
	---------	---------
	459,587	188,501
	---------	---------

9. Related party transactions

At the year end the company owes the Directors £14,905 (2023: £12,001). At the year end, the company is owed £320,729 (2023: £200,907) by companies related by common control.