Partizan Ltd
Unaudited Financial Statements
For the year ended 31 December 2025
Pages for Filing with Registrar
Company Registration No. 02567243 (England and Wales)
Partizan Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 7
Partizan Ltd
Balance Sheet
As at 31 December 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
22,090
22,153
Current assets
Work in progress
28,489
724,315
Debtors
5
287,450
1,023,791
Cash at bank and in hand
706,897
885,118
1,022,836
2,633,224
Creditors: amounts falling due within one year
6
(869,561)
(2,530,732)
Net current assets
153,275
102,492
Net assets
175,365
124,645
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
174,365
123,645
Total equity
175,365
124,645

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 7 April 2026
J L Pitt
Director
Company Registration No. 02567243
Partizan Ltd
Notes to the Financial Statements
For the year ended 31 December 2025
Page 2
1
Accounting policies
Company information

Partizan Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit A, 5 Long St, London, E2 8GS.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% straight line
Fixtures and fittings
25% reducing balance
Equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Partizan Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 3
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Partizan Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 4
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
15
18
3
Dividends
2025
2024
£
£
Final paid
-
0
50,000
Partizan Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 5
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2025
62,536
43,101
9,716
115,353
Additions
-
0
9,183
6,138
15,321
Disposals
-
0
(17,714)
(7,983)
(25,697)
At 31 December 2025
62,536
34,570
7,871
104,977
Depreciation and impairment
At 1 January 2025
62,536
24,443
6,221
93,200
Depreciation charged in the year
-
0
4,665
1,595
6,260
Eliminated in respect of disposals
-
0
(11,844)
(4,729)
(16,573)
At 31 December 2025
62,536
17,264
3,087
82,887
Carrying amount
At 31 December 2025
-
0
17,306
4,784
22,090
At 31 December 2024
-
0
18,658
3,495
22,153
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
172,667
727,558
Amounts owed by group undertakings
84,353
84,944
Other debtors
9,200
-
0
Prepayments and accrued income
21,230
211,289
287,450
1,023,791
Partizan Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 6
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
163,972
417,940
Amounts owed to group undertakings
29,850
22,297
Corporation tax
35,398
4,360
Other taxation and social security
57,341
293,645
Other creditors
-
0
24,500
Accruals and deferred income
583,000
1,767,990
869,561
2,530,732
7
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Operating Lease Commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
47,544
80,500
Between two and five years
146,594
-
194,138
80,500
Partizan Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 7
9
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
308,776
511,072

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.

10
Ultimate controlling party

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

2025-12-31 2025-01-01 false false false 15 April 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity J L Pitt R Appleyard 02567243 2025-01-01 2025-12-31 02567243 2025-12-31 02567243 2024-12-31 02567243 core:LeaseholdImprovements 2025-12-31 02567243 core:FurnitureFittings 2025-12-31 02567243 core:ComputerEquipment 2025-12-31 02567243 core:LeaseholdImprovements 2024-12-31 02567243 core:FurnitureFittings 2024-12-31 02567243 core:ComputerEquipment 2024-12-31 02567243 core:CurrentFinancialInstruments 2025-12-31 02567243 core:CurrentFinancialInstruments 2024-12-31 02567243 core:ShareCapital 2025-12-31 02567243 core:ShareCapital 2024-12-31 02567243 core:RetainedEarningsAccumulatedLosses 2025-12-31 02567243 core:RetainedEarningsAccumulatedLosses 2024-12-31 02567243 core:ShareCapitalOrdinaryShareClass1 2025-12-31 02567243 core:ShareCapitalOrdinaryShareClass1 2024-12-31 02567243 bus:Director1 2025-01-01 2025-12-31 02567243 core:LeaseholdImprovements 2025-01-01 2025-12-31 02567243 core:FurnitureFittings 2025-01-01 2025-12-31 02567243 core:ComputerEquipment 2025-01-01 2025-12-31 02567243 2024-01-01 2024-12-31 02567243 core:LeaseholdImprovements 2024-12-31 02567243 core:FurnitureFittings 2024-12-31 02567243 core:ComputerEquipment 2024-12-31 02567243 2024-12-31 02567243 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 02567243 bus:OrdinaryShareClass1 2025-12-31 02567243 bus:OrdinaryShareClass1 2024-12-31 02567243 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 02567243 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 02567243 bus:FRS102 2025-01-01 2025-12-31 02567243 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 02567243 bus:CompanySecretary1 2025-01-01 2025-12-31 02567243 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP