Perdix Partnership Limited - Limited company accounts 18.1.1

REGISTERED NUMBER: 10215890 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

PERDIX PARTNERSHIP LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTORS:

Mr P H E Hoare

Mr W S Russell

Mr P J Lawson

Mr C H Smith

REGISTERED OFFICE:

Hillside

Albion Street

CHIPPING NORTON

Oxfordshire

OX7 5BH

BUSINESS ADDRESS:

Rectory Farm

Lower Swell

CHELTENHAM

Gloucestershire

GL54 1LH

REGISTERED NUMBER:

10215890 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

The directors present their report with the financial statements of the company for the year ended 31 March 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of land agents and chartered surveyors.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2017 to the date of this report.

Mr P H E Hoare

Mr W S Russell

Mr P J Lawson

Other changes in directors holding office are as follows:

Mr C H Smith - appointed 1 July 2017

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr P J Lawson - Director

10 October 2018

TURNOVER

566,745

122,022

Cost of sales

66,420

47,933

GROSS PROFIT

500,325

74,089

Administrative expenses

223,447

58,576

OPERATING PROFIT and

PROFIT BEFORE TAXATION

276,878

15,513

Tax on profit

5

55,868

-

PROFIT FOR THE FINANCIAL YEAR

221,010

15,513

FIXED ASSETS

Tangible assets

6

20,551

23,579

CURRENT ASSETS

Stocks

7

-

15,000

Debtors

8

108,870

72,230

Cash at bank

72,062

-

180,932

87,230

CREDITORS

Amounts falling due within one year

9

153,739

109,936

NET CURRENT ASSETS/(LIABILITIES)

27,193

(22,706

)

TOTAL ASSETS LESS CURRENT LIABILITIES

47,744

873

PROVISIONS FOR LIABILITIES

10

3,905

-

NET ASSETS

43,839

873

CAPITAL AND RESERVES

Called up share capital

11

412

360

Retained earnings

43,427

513

SHAREHOLDERS' FUNDS

43,839

873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 October 2018 and were signed on its behalf by:

Mr P H E Hoare - Director

Mr P J Lawson - Director

Mr W S Russell - Director

Mr C H Smith - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

360

-

360

Dividends

-

(15,000

)

(15,000

)

Total comprehensive income

-

15,513

15,513

Balance at 31 March 2017

360

513

873

Changes in equity

Issue of share capital

52

-

52

Dividends

-

(178,096

)

(178,096

)

Total comprehensive income

-

221,010

221,010

Balance at 31 March 2018

412

43,427

43,839

1.	STATUTORY INFORMATION

Perdix Partnership 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year 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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 7 ) .

Period

6.6.16

Year Ended

to

31.3.18

31.3.17

£

£

Directors' remuneration

27,048

6,048

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

6.6.16

Year Ended

to

31.3.18

31.3.17

£

£

Depreciation - owned assets

10,436

2,054

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

6.6.16

Year Ended

to

31.3.18

31.3.17

£

£

Current tax:

UK corporation tax

51,963

-

Deferred tax

3,905

-

Tax on profit

55,868

-

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2017

156

25,477

25,633

Additions

4,177

3,231

7,408

At 31 March 2018

4,333

28,708

33,041

DEPRECIATION

At 1 April 2017

6

2,048

2,054

Charge for year

867

9,569

10,436

At 31 March 2018

873

11,617

12,490

NET BOOK VALUE

At 31 March 2018

3,460

17,091

20,551

At 31 March 2017

150

23,429

23,579

7.

STOCKS

31.3.18

31.3.17

£

£

Work-in-progress

-

15,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

107,006

69,797

Rent deposit

1,000

1,000

Prepayments

864

1,433

108,870

72,230

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

-

21,232

Trade creditors

15,855

24,909

Tax

51,963

-

Social security and other taxes

2,656

1,049

Pension creditor

-

247

VAT

34,440

4,937

Directors' current accounts

43,796

51,081

Accrued expenses

5,029

6,481

153,739

109,936

10.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

Accelerated capital allowances

3,905

-

Deferred

tax

£

Provided during year

3,905

Balance at 31 March 2018

3,905

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

408

Ordinary £1

£1

408

360

4

Ordinary B

£1

4

-

412

360

The following shares were issued during the year for cash at par :

48 Ordinary £1 shares of £1

4 Ordinary B shares of £1

12.	ULTIMATE CONTROLLING PARTY

The company has no single controlling party.