NEEDLE PARTNERS LIMITED


Directors	NEEDLE, Sharon Lesley Preston
	RAMLI, Ukasha


Registered Address	Suite 4 Chapel Allerton House
	Town Street, Chapel Allerton
	Leeds
	LS7 4NB


Registered Number	07156604 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Fixtures and fittings	15	-
Office Equipment	-	3

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		9

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	250,000	250,000
At 31 March 25	250,000	250,000
Amortisation and impairment
At 01 April 24	250,000	250,000
At 31 March 25	250,000	250,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Useful life of intangible assets
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of the goodwill was set at 5 years and the asset was amortised on a straight line basis over that period.

5.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	5,000	19,681	26,158	50,839
At 31 March 25	5,000	19,681	26,158	50,839
Depreciation and impairment
At 01 April 24	3,292	9,675	25,305	38,272
Charge for year	500	1,585	639	2,724
At 31 March 25	3,792	11,260	25,944	40,996
Net book value
At 31 March 25	1,208	8,421	214	9,843
At 31 March 24	1,708	10,006	853	12,567

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	29,987	52,985
Other debtors	255,017	227,266
Prepayments and accrued income	89,676	89,342
Total	374,680	369,593

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	12,018	18,163
Bank borrowings and overdrafts	5,391	5,175
Taxation and social security	75,153	88,142
Other creditors	115,057	71,960
Accrued liabilities and deferred income	8,030	7,600
Total	215,649	191,040

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	23,312	28,921
Other creditors	44,224	62,515
Total	67,536	91,436

9.	Provisions for liabilities
	The deferred tax provision is in respect of accelerated capital allowances.

	2025	2024
	£	£
Net deferred tax liability (asset)	1,800	2,400
Total	1,800	2,400

10.	Other commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £5,330 ( 2024: £6,967).

11.	Directors advances, credits and guarantees
	On 1 April 2024 a Director owed the Company £184,252. During the period this director was advanced a further £105,750 and repaid £78,000. As at 31 March 2025 this Director owed the Company £212,003. No interest was charged on this loan and the loan is repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	5		9,843		12,567
			9,843		12,567
Current assets
Debtors	6	374,680		369,593
Cash at bank and on hand		33,319		27,401
		407,999		396,994
Creditors amounts falling due within one year	7	(215,649)		(191,040)
Net current assets (liabilities)			192,350		205,954
Total assets less current liabilities			202,193		218,521
Creditors amounts falling due after one year	8		(67,536)		(91,436)
Provisions for liabilities	9		(1,800)		(2,400)
Net assets			132,857		124,685
Capital and reserves
Called up share capital			50,100		50,100
Profit and loss account			82,757		74,585
Shareholders' funds			132,857		124,685