Partformat Limited Filleted accounts for Companies House (small and micro)
Partformat Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03634024
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Abridged Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Investments |
5 |
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--------- |
--------- |
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Current assets
Debtors |
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Cash at bank and in hand |
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------- |
------- |
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Creditors: amounts falling due within one year |
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-------- |
-------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
6 |
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Provisions
Taxation including deferred tax |
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--------- |
--------- |
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Net assets |
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--------- |
--------- |
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Capital and reserves
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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--------- |
--------- |
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Shareholders funds |
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--------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 December 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
03634024
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Notes to the Abridged Financial Statements |
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lilac House, Kinnerley, Oswestry, Shropshire, SY10 8DF.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Disclosure exemptions
Consolidation
Revenue recognition
Income tax
Tangible assets
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:
Fixtures and fittings |
- |
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Computer equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
4.
Tangible assets
£ |
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Cost or valuation |
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At 1 April 2018 |
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Revaluations |
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--------- |
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At 31 March 2019 |
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--------- |
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Depreciation |
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At 1 April 2018 |
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Charge for the year |
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--------- |
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At 31 March 2019 |
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--------- |
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Carrying amount |
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At 31 March 2019 |
800,002 |
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At 31 March 2018 |
735,520 |
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Tangible assets held at valuation
5.
Investments
£ |
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Cost |
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At 1 April 2018 and 31 March 2019 |
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---- |
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Impairment |
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At 1 April 2018 and 31 March 2019 |
– |
---- |
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Carrying amount |
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At 31 March 2019 |
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---- |
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At 31 March 2018 |
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---- |
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6.
Creditors:
amounts falling due after more than one year
The bank loans and overdrafts are secured by fixed charges over the freehold investment properties of the company.
7.
Related party transactions
The accounts of the company have been prepared by Garner Pugh & Sinclair, a firm of Chartered Accountants in which J.F. Hughes, a director and 25% shareholder, is a partner. The fee charged for accountancy services in 2019 was £1,500(2018:£1,500). The company uses Bowen Son & Watson, Estate Agents to manage and let the properties, a firm in which T.E. Bowen, a director and 25% shareholder, is a partner. The fee charged for such services in 2019 was £2,400 ( 2018: £2,400).