P W & Partners Ltd - Accounts to registrar (filleted) - small 18.2

P W & Partners Ltd - Accounts to registrar (filleted) - small 18.2

P W & PARTNERS LTD - Company Information

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REGISTERED NUMBER: SC644543 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021

FOR

P W & PARTNERS LTD
ASMCA Limited
14 Castle Court
Castlecary
Cumbernauld
GLASGOW
G68 0JL








P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P W & PARTNERS LTD

COMPANY INFORMATION
FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021







DIRECTORS: Mrs S M Livingstone
Mrs M Martindale





REGISTERED OFFICE: 18-22 Melville Street
Edinburgh
EH3 7NS





REGISTERED NUMBER: SC644543 (Scotland)





ACCOUNTANTS: ASMCA Limited
14 Castle Court
Castlecary
Cumbernauld
GLASGOW
G68 0JL
Page 1
P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)

BALANCE SHEET
31 JANUARY 2021

Notes £    £   
FIXED ASSETS
Intangible assets 4 2,788,752
Tangible assets 5 6,217
2,794,969

CURRENT ASSETS
Debtors 6 79,169
Cash at bank 163,227
242,396
CREDITORS
Amounts falling due within one year 7 311,934
NET CURRENT LIABILITIES (69,538 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,725,431

CREDITORS
Amounts falling due after more than one
year
8
(1,607,980
)

PROVISIONS FOR LIABILITIES (643,572 )
NET ASSETS 473,879

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings 473,877
SHAREHOLDERS' FUNDS 473,879

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2021 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 notes form part of these financial statements

Page 2 continued...
P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)

BALANCE SHEET - continued
31 JANUARY 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 5 April 2021 and were signed on its behalf by:




Mrs S M Livingstone - Director



Mrs M Martindale - Director


The notes form part of these financial statements

Page 3
P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021

1. STATUTORY INFORMATION

P W & Partners Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill and other customer related intangible assets are being amortised over their estimated useful life of 20 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the period 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 period 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.

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.

The company also makes contributions to directors' pension plans. The contributions are charged to the profit and loss account in the period they are paid.

Page 4 continued...
P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

4. INTANGIBLE FIXED ASSETS
Intangibles
£   
COST
Additions 3,062,184
Impairments (127,500 )
At 31 January 2021 2,934,684
AMORTISATION
Amortisation for period 145,932
At 31 January 2021 145,932
NET BOOK VALUE
At 31 January 2021 2,788,752

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 1,557 6,717 8,274
At 31 January 2021 1,557 6,717 8,274
DEPRECIATION
Charge for period 387 1,670 2,057
At 31 January 2021 387 1,670 2,057
NET BOOK VALUE
At 31 January 2021 1,170 5,047 6,217

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 78,587
Other debtors 582
79,169

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 191,305
Trade creditors 15,403
Taxation and social security 74,927
Other creditors 30,299
311,934

Page 5 continued...
P W & PARTNERS LTD (REGISTERED NUMBER: SC644543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 OCTOBER 2019 TO 31 JANUARY 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 1,607,980

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 822,761

9. CONTINGENT LIABILITIES

A contingent liability exists at the balance sheet date of a maximum amount of £642,391, potentially due to be paid by the company in February 2023, This is the final payment relating to the purchase of PW & Partners Holding Ltd (now dissolved) and is subject to certain provisions.

Page 6