Pelham Partners Ltd Filleted accounts for Companies House (small and micro)

PELHAM PARTNERS LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 11092815

Pelham Partners Ltd

Filleted Unaudited Financial Statements

31 December 2021

Pelham Partners Ltd

Financial Statements

Year ended 31 December 2021

Contents	Page

Directors' report	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4

Pelham Partners Ltd

Directors' Report

Year ended 31 December 2021

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2021 .

Commencement of trade

The company commenced trade as an investment company on 25 June 2021 when it purchased shares in Tene Living UK Ltd.

Directors

The directors who served the company during the year were as follows:

Edward Orf
Roger Orf

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 25 November 2022 and signed on behalf of the board by:

Edward Orf

Director

Registered office:

1 Pelham Crescent

London

SW7 2NP

Pelham Partners Ltd

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Pelham Partners Ltd

Year ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pelham Partners Ltd for the year ended 31 December 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

BAILHACHE LINTON LLP Accountants

Bourne House 475 Godstone Road Whyteleafe Surrey CR3 0BL

25 November 2022

Pelham Partners Ltd

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Investments	4	150,350	–

Current assets

Cash at bank and in hand	–	1,000

Creditors: Amounts falling due within one year	5	150,910	–
		---------	-------
Net current (liabilities)/assets		( 150,910)	1,000
		---------	-------
Total assets less current liabilities		( 560)	1,000
		----	-------
Net (liabilities)/assets		( 560)	1,000
		----	-------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 1,560)	–
	-------	-------
Shareholder (deficit)/funds	( 560)	1,000
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 25 November 2022 , and are signed on behalf of the board by:

Edward Orf

Director

Company registration number: 11092815

Pelham Partners Ltd

Notes to the Financial Statements

Year ended 31 December 2021

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Pelham Crescent, London, SW7 2NP.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2020. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Shares in participating interests	Loans to participating interests	Total
	£	£	£
Cost
At 1 January 2021	–	–	–
Additions	350	150,000	150,350
	----	---------	---------
At 31 December 2021	350	150,000	150,350
	----	---------	---------
Impairment
At 1 January 2021 and 31 December 2021	–	–	–
	----	---------	---------

Carrying amount
At 31 December 2021	350	150,000	150,350
	----	---------	---------
At 31 December 2020	–	–	–
	----	---------	---------

5. Creditors: Amounts falling due within one year

	2021	2020
	£	£
Other creditors	150,910	–
	---------	----

6. Directors' Advances, Credits and Guarantees

As at the year end, Edward Orf was owed £149,350 (2020: nil). This is included under Other Creditors.

7. Related Party Transactions

Tene Living UK Ltd A company in which Pelham Partners Ltd has significant control. During the year the company made an investment in Tene Living UK Ltd. It provided an interest-free unsecured loan facility of £150,000. The loan is repayable ahead of any dividend payments or as agreed between the A Shareholders in writing . This is shown on the Balance Sheet as Loan to Participating Interests.

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2020.

No transitional adjustments were required in equity or profit or loss for the year.