Company Registration No. 03021552 (England and Wales)
42 PARTNERS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
42 PARTNERS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
42 PARTNERS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,325
7,100
Current assets
Debtors
33,802
41,235
Cash at bank and in hand
6,923
3,789
40,725
45,024
Creditors: amounts falling due within one year
(51,362)
(51,781)
Net current liabilities
(10,637)
(6,757)
Total assets less current liabilities
(5,312)
343
Creditors: amounts falling due after more than one year
6,500
-
1,188
343
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
1,184
339
Shareholders'  funds
1,188
343
For the financial year ended 31 August 2016 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 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 May 2017
Mr I Taylor
Director
Company Registration No. 03021552
42 PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% Reducing Balance
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
75,179
Depreciation
At 1 September 2015
68,079
Charge for the year
1,775
At 31 August 2016
69,854
Net book value
At 31 August 2016
5,325
At 31 August 2015
7,100
42 PARTNERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
4 Ordinary Shares of £1 each
4
4
4
Transactions with directors

Included within debtors are amounts due of £4,556 (2014: £9,780) and £15,233 (2014: £13,267) from Ian Taylor and Richard Hayes. Both are directors and shareholders of the company.

2016-08-31 2015-09-01 false true true true true true tmpC843.html 2017-05-31 03021552 2015-09-01 2016-08-31 03021552 2016-08-31 03021552 2015-08-31 03021552 2015-08-31 03021552 uk-bus:CompanySecretaryDirector 2015-09-01 2016-08-31 03021552 uk-gaap:FixturesFittingsToolsEquipment 2015-09-01 2016-08-31 03021552 uk-bus:OrdinaryShareClass1 2015-09-01 2016-08-31 03021552 uk-bus:OrdinaryShareClass1 2016-08-31 03021552 uk-bus:OrdinaryShareClass1 2015-08-31 xbrli:pure xbrli:shares iso4217:GBP