AR Partners Limited - Period Ending 2019-08-31

AR Partners Limited - Period Ending 2019-08-31


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Registration number: 08910184

AR Partners Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2019

Ballards LLP
Chartered Accountants
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH


 

 

AR Partners Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

AR Partners Limited

Company Information

Directors

Mr G M P Hughes

Mr H Simpson

Company secretary

Mr G M P Hughes

Registered office

Salford Lodge
Pitchill
Evesham
Worcestershire
WR11 8SN

Accountants

Ballards LLP
Chartered Accountants
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

AR Partners Limited

(Registration number: 08910184)
Balance Sheet as at 31 August 2019

Note

2019
£

2018
£

Fixed assets

 

Tangible assets

4

12,340

33,277

Investments

5

100

100

 

12,440

33,377

Current assets

 

Debtors

6

246,829

382,814

Cash at bank and in hand

 

1,728

19,093

 

248,557

401,907

Creditors: Amounts falling due within one year

7

(3,117)

(7,451)

Net current assets

 

245,440

394,456

Total assets less current liabilities

 

257,880

427,833

Provisions for liabilities

(2,350)

(1,750)

Net assets

 

255,530

426,083

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

255,330

425,883

Total equity

 

255,530

426,083

 

AR Partners Limited

(Registration number: 08910184)
Balance Sheet as at 31 August 2019

For the financial year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 May 2020 and signed on its behalf by:
 

.........................................
Mr G M P Hughes
Company secretary and director

.........................................
Mr H Simpson
Director

 
 

AR Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Salford Lodge
Pitchill
Evesham
Worcestershire
WR11 8SN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AR Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on cost

Computer equipment

25% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

AR Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

 

AR Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2018

3,439

68,002

71,441

Disposals

-

(44,307)

(44,307)

At 31 August 2019

3,439

23,695

27,134

Depreciation

At 1 September 2018

2,077

36,087

38,164

Charge for the year

467

8,400

8,867

Eliminated on disposal

-

(32,237)

(32,237)

At 31 August 2019

2,544

12,250

14,794

Carrying amount

At 31 August 2019

895

11,445

12,340

At 31 August 2018

1,362

31,915

33,277

5

Investments

2019
£

2018
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 September 2018

100

Provision

Carrying amount

At 31 August 2019

100

At 31 August 2018

100

 

AR Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019

6

Debtors

2019
£

2018
£

Other debtors

246,829

382,814

Total current trade and other debtors

246,829

382,814

7

Creditors

Creditors: amounts falling due within one year

Note

2019
£

2018
£

Due within one year

 

Trade creditors

 

-

306

Amounts owed to related parties

144

140

Taxation and social security

 

156

1,497

Other creditors

 

2,817

5,508

 

3,117

7,451