Company Registration No. 00646557 (England and Wales)
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020
PAGES FOR FILING WITH REGISTRAR
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2020
31 January 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
4
267,285
260,452
Current assets
Debtors
5
8
7
Cash at bank and in hand
2,705
1,119
2,713
1,126
Creditors: amounts falling due within one year
6
(11,431)
(11,283)
Net current liabilities
(8,718)
(10,157)
Total assets less current liabilities
258,567
250,295
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
257,567
249,295
Total equity
258,567
250,295
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
of the Companies Act 2006.
These financial statements have been prepared and delivered in accordance with the provisions
of Part 15 of the Companies Act 2006
applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 June 2020 and are signed on its behalf by:
Mr C D Partridge
Miss J E Partridge
Director
Director
Company Registration No. 00646557
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020
- 2 -
1
Accounting policies
Company information
F Partridge & Son (Heel Manufacturers) Rothwell Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
7 High Hill Avenue, Rothwell, Kettering, Northamptonshire, NN14 6BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents dividend income, interest receivable and profits less losses arising from sales of investments.
1.3
Fixed asset investments
Listed investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The profit and loss account includes the net gains and losses arising on revaluations and disposals throughout the year.
Fair value changes in listed investments are classified as realised profits or losses and are included in distributable reserves.
Unlisted investments are measured at cost less impairment.
1.4
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2020
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares 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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts 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 creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons employed by the company during the year was 0 (2019 - 0).
3
Directors' remuneration and dividends
2020
2019
£
£
Remuneration paid to directors
6,500
6,500
Dividends paid to directors
3,996
5,400
F PARTRIDGE & SON (HEEL MANUFACTURERS) ROTHWELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2020
- 4 -
4
Fixed asset investments
2020
2019
£
£
Investments
267,285
260,452
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 February 2019
260,452
Additions
57,335
Valuation changes
14,520
Disposals
(65,022)
At 31 January 2020
267,285
Carrying amount
At 31 January 2020
267,285
At 31 January 2019
260,452
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
7
7
Other debtors
1
-
8
7
6
Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
11,431
11,283
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000