Partridge Muir & Warren Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00952508 (England and Wales)

PARTRIDGE MUIR & WARREN LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Lewis

C Gulliver

K Banham

SECRETARY:

K Banham

REGISTERED OFFICE:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

REGISTERED NUMBER:

00952508 (England and Wales)

ACCOUNTANTS:

Tudor John LLP

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

SOLICITORS:

B P Collins LLP

Collins House

32-38 Station Road

Gerrards Cross

Buckinghamshire

SL9 8EL

FIXED ASSETS

Tangible assets

4

252,607

162,241

CURRENT ASSETS

Debtors

5

1,679,271

1,658,062

Investments

6

28,219

31,676

Cash at bank and in hand

1,261,531

1,352,003

2,969,021

3,041,741

CREDITORS

Amounts falling due within one year

7

910,812

1,009,580

NET CURRENT ASSETS

2,058,209

2,032,161

TOTAL ASSETS LESS CURRENT LIABILITIES

2,310,816

2,194,402

CREDITORS

Amounts falling due after more than one year

8

(102,417

)

-

PROVISIONS FOR LIABILITIES

(46,321

)

(28,784

)

NET ASSETS

2,162,078

2,165,618

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

9

2,142,078

2,145,618

SHAREHOLDERS' FUNDS

2,162,078

2,165,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 March 2019 and were signed on its behalf by:

S Lewis - Director

1.	STATUTORY INFORMATION

Partridge Muir & Warren Limited is a private company limited by shares, incorporated and domiciled in England

and Wales, registration number 00952508. The registered office is Aissela, 46 High Street, Esher, Surrey, KT10

9QY

2.	ACCOUNTING POLICIES

BASIS OF PREPARATION

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

INVESTMENTS

Investments are held at market value at the end of the accounting period with the movement in market value

being recognised in the profit and loss account.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at

transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at

the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying

amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised

the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the

carrying amount would have been had the impairment not previously been recognised. The impairment reversal

is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party,

or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the

asset to an unrelated third party without imposing additional restrictions.

(ii) Financial Liabilities

Basic financial liabilities, including trade and other payables, loans from fellow group companies that are

classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future receipts discounted at a

market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2018

140,817

-

197,185

338,002

Additions

-

136,700

4,581

141,281

At 31 December 2018

140,817

136,700

201,766

479,283

DEPRECIATION

At 1 January 2018

55,609

-

120,152

175,761

Charge for year

13,499

13,503

23,913

50,915

At 31 December 2018

69,108

13,503

144,065

226,676

NET BOOK VALUE

At 31 December 2018

71,709

123,197

57,701

252,607

At 31 December 2017

85,208

-

77,033

162,241

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

136,700

At 31 December 2018

136,700

DEPRECIATION

Charge for year

13,503

At 31 December 2018

13,503

NET BOOK VALUE

At 31 December 2018

123,197

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,635

5,913

Amounts owed by group undertakings

1,513,331

1,514,739

Other debtors

163,305

137,410

1,679,271

1,658,062

6.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Unlisted investments

28,219

31,676

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

12,793

-

Trade creditors

31,725

43,103

Amounts owed to group undertakings

549,071

549,071

Taxation and social security

109,318

225,559

Other creditors

207,905

191,847

910,812

1,009,580

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

102,417

-

9.

RESERVES

Retained

earnings

£

At 1 January 2018

2,145,618

Profit for the year

796,460

Dividends

(800,000

)

At 31 December 2018

2,142,078

10.	RELATED PARTY DISCLOSURES