Paris Partnership Services Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 03870011 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

PARIS PARTNERSHIP SERVICES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

L M Paris

L A R Paris

SECRETARY:

L A R Paris

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

03870011 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Intangible assets

4

34,245

34,245

Tangible assets

5

8,454

15,924

42,699

50,169

CURRENT ASSETS

Debtors

6

571,560

620,328

Cash at bank

279,123

275,473

850,683

895,801

CREDITORS

Amounts falling due within one year

7

(164,765

)

(247,931

)

NET CURRENT ASSETS

685,918

647,870

TOTAL ASSETS LESS CURRENT LIABILITIES

728,617

698,039

CAPITAL AND RESERVES

Called up share capital

8

180

180

Capital redemption reserve

9

20

20

Retained earnings

9

728,417

697,839

SHAREHOLDERS' FUNDS

728,617

698,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 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 28 June 2023 and were signed on its behalf by:

L A R Paris - Director

1.	STATUTORY INFORMATION

Paris Partnership Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

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.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 30 September 2022

230,242

AMORTISATION

At 1 October 2021

and 30 September 2022

195,997

NET BOOK VALUE

At 30 September 2022

34,245

At 30 September 2021

34,245

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2021

and 30 September 2022

56,631

DEPRECIATION

At 1 October 2021

40,707

Charge for year

7,470

At 30 September 2022

48,177

NET BOOK VALUE

At 30 September 2022

8,454

At 30 September 2021

15,924

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

381,000

263,400

Other debtors

190,560

356,928

571,560

620,328

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

13,346

23,746

Taxation and social security

117,668

121,582

Other creditors

33,751

102,603

164,765

247,931

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

80

Ordinary

£1.00

80

80

100

Redeemable

£1.00

100

100

180

180

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2021

697,839

20

697,859

Profit for the year

74,178

74,178

Dividends

(43,600

)

(43,600

)

At 30 September 2022

728,417

20

728,437

10.	RELATED PARTY DISCLOSURES

The Paris Partnership LLP

The directors of the company are members of the LLP

Management fees of £912,000 (2021: £1,060,000) were charged to The Paris Partnership LLP during the year. At the year end £381,000 (2021: £263,400) was included in trade debtors.

2022

2021

£

£

Amount due from related party at the balance sheet date

13,200

8,049

L M Paris

Director

2022

2021

£

£

Amount due from/(to) related party at the balance sheet date

11,910

(150

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paris Partnership Services Limited for the year ended 30 September 2022 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Paris Partnership Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paris Partnership Services Limited and state those matters that we have agreed to state to the Board of Directors of Paris Partnership Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paris Partnership Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paris Partnership Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paris Partnership Services Limited. You consider that Paris Partnership Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paris Partnership Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

28 June 2023