PartnershipOne Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15934053

PartnershipOne Limited

Filleted Financial Statements

31 March 2026

PartnershipOne Limited

Financial Statements

Year ended 31 March 2026

Contents	Page

Directors' responsibilities statement	1

Statement of financial position	2

Notes to the financial statements	3

PartnershipOne Limited

Directors' Responsibilities Statement

Year ended 31 March 2026

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PartnershipOne Limited

Statement of Financial Position

31 March 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	5	146,539	159,042

Current assets

Debtors	6	2,362,823	200,971
Cash at bank and in hand		1,501,286	3,541,074
		------------	------------
		3,864,109	3,742,045

Creditors: amounts falling due within one year	7	3,973,259	3,893,580
		------------	------------
Net current liabilities		109,150	151,535
		---------	---------
Total assets less current liabilities		37,389	7,507
		--------	-------
Net assets		37,389	7,507
		--------	-------

Capital and reserves

Called up share capital	3,000	3,000
Profit and loss account	34,389	4,507
	--------	-------
Shareholders funds	37,389	7,507
	--------	-------

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 31 July 2026 , and are signed on behalf of the board by:

Mrs A M Plant	Mr M Archer
Director	Director

Company registration number: 15934053

PartnershipOne Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Thanet District Council, Cecil Street, Margate, CT9 1XZ, United 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.

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. 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

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:

	Equipment	-	25.00% - 33.00% Straight Line

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.

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 the 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 is is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 181 (2025: 180 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2025	162,373
Additions	31,993
	---------
At 31 March 2026	194,366
	---------
Depreciation
At 1 April 2025	3,331
Charge for the year	44,496
	---------
At 31 March 2026	47,827
	---------
Carrying amount
At 31 March 2026	146,539
	---------
At 31 March 2025	159,042
	---------

6. Debtors

	2026	2025
	£	£
Trade debtors	1,803,495	–
Other debtors	559,328	200,971
	------------	---------
	2,362,823	200,971
	------------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	228,466	564,112
Corporation tax	1,233	1,502
Social security and other taxes	610,251	1,033,846
Other creditors	3,133,309	2,294,120
	------------	------------
	3,973,259	3,893,580
	------------	------------

8. Defined contribution plans

The company participates in a Local Government Pension Scheme, a defined benefit pension scheme. Under a contractual pass-through arrangement, the majority of the risks and rewards associated with the scheme, including funding deficits and surpluses, are borne by Thanet District Council.

Pension costs are therefore recognised based on contributions payable together with any pension-related obligations that remain the responsibility of the company, including certain costs arising from early retirement, enhanced pension benefits and other employer actions that increase scheme liabilities.

9. Summary audit opinion

The auditor's report dated 27 August 2026 was unqualified .

The senior statutory auditor was Kenton May BSc FCA CTA MAE , for and on behalf of Burgess Hodgson Audit Limited .

10. Related party transactions

At the period end, the company was owed £752,750 by (2025: owed £14,797 to) Dover District Council. At the period end, the company was owed £1,036,351 by (2025: owed £383,669 to) Thanet District Council. At the period end, the company owed £5,789 to (2025: £nil) Canterbury City Council. No remuneration was paid to the statutory directors during the year. Included within other creditors is £570,000 representing amounts payable to the councils in respect of surplus funds generated during the year. The return of these surplus funds was agreed prior to the year end and accordingly a liability has been recognised at 31 March 2026. The balance was subsequently settled through the issue of credit notes to the councils.

11. Controlling party

The company is jointly controlled by the following parties, each holding a 33.33%% shareholding: Canterbury City Council , at 14 Rose Lane, Kent, United Kingdom, CT1, 2UR . Dover District Council, at White Cliffs Business Park, Dover, United Kingdom, CT16 3PJ. Thanet District council, at Council Cecil Street, Margate, United Kingdom, CT9 1XZ.