Partformat Limited Small abridged accounts
Partformat Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
03634024
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Abridged Financial Statements |
Year ended 31 March 2017
Contents |
Pages |
Abridged statement of financial position |
1 to 2 |
Notes to the abridged financial statements |
3 to 7 |
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Investments |
5 |
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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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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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Net assets |
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Abridged Statement of Financial Position (continued) |
2017 |
2016 |
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Note |
£ |
£ |
£ |
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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Members funds |
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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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These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 December 2017
, 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 2017
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
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
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
Provisions
Financial instruments
4.
Tangible assets
£ |
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Cost or valuation |
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At 1 April 2016 |
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Additions |
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Revaluations |
(
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
750,777 |
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At 31 March 2016 |
800,610 |
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Tangible assets held at valuation
5.
Investments
£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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Impairment |
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At 1 April 2016 and 31 March 2017 |
– |
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Carrying amount |
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At 31 March 2017 |
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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 2017 was £1,440
(2016:£1,440). 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 2017 was £ 2,400
( 2016: £2,400).
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
Reconciliation of equity
1 April 2015 |
31 March 2016 |
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As previously stated |
Effect of transition |
FRS 102 (as restated) |
As previously stated |
Effect of transition |
FRS 102 (as restated) |
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£ |
£ |
£ |
£ |
£ |
£ |
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Fixed assets |
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– |
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– |
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Current assets |
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– |
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– |
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Creditors: amounts falling due within one year |
(
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– |
(
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(
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– |
(
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Net current liabilities |
(
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– |
(
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(
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– |
(
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---- |
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Total assets less current liabilities |
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– |
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– |
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Creditors: amounts falling due after more than one year |
(
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– |
(
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(
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– |
(
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Provisions |
– |
(
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(
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– |
(
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(
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Net assets |
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(
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(
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-------- |
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-------- |
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-------- |
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Capital and reserves |
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(
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(
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