ACCOUNTS - Final Accounts preparation

Registered number: 10858757

LAUNCELOT PARTNERS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2025

LAUNCELOT PARTNERS LIMITED

REGISTERED NUMBER: 10858757

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		20,447		20,447
			20,447		20,447
Current assets
Debtors: amounts falling due within one year	5	982,043		796,498
Cash at bank and in hand	6	47,006		116,753
		1,029,049		913,251
Creditors: amounts falling due within one year	7	(37,309)		(40,634)
Net current assets			991,740		872,617
Total assets less current liabilities			1,012,187		893,064

Net assets			1,012,187		893,064

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		1,012,186	893,063
		1,012,187	893,064

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LAUNCELOT PARTNERS LIMITED

REGISTERED NUMBER: 10858757

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf:

M S Thorley, on behalf of Montagu Investments Limited

Director

Date: 23 April 2026

The notes on pages 3 to 6 form part of these financial statements.

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LAUNCELOT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	General information

Launcelot Partners Limited is a private company limited by shares and incorporated in England. The registered office is 122 Wigmore Street, London, United Kingdom, W1U 3RX.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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LAUNCELOT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.5

Taxation

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 and generates income.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

2.8

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.

2.9

Creditors

Short-term 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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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LAUNCELOT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

4.	Fixed asset investments

		Other fixed asset investments
		£
	Cost or valuation
	At 1 August 2024	20,447
	At 31 July 2025	20,447

Debtors

					2025	2024
					£	£


Trade debtors	34,347	-
Amounts owed by group undertakings	797,696	796,498
Other debtors	150,000	-
	982,043	796,498

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	47,006	116,753
	47,006	116,753

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	33,540	33,142
Other taxation and social security	169	3,892
Accruals and deferred income	3,600	3,600
	37,309	40,634

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LAUNCELOT PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £0.01 each	1	1

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