Company No:
Contents
DESIGNATED MEMBERS | M J Clarke |
S Gevertz | |
B S Lewis | |
S D Lewis | |
S M Raingold |
REGISTERED OFFICE | 35 Ballards Lane |
London | |
N3 1XW | |
England | |
United Kingdom |
REGISTERED NUMBER | OC322059 (England and Wales) |
CHARTERED ACCOUNTANTS | Berg Kaprow Lewis LLP |
35 Ballards Lane | |
London | |
N3 1XW |
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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6,186 | 45,722 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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4,545,263 | 2,791,969 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 4,309,516 | 2,536,151 | ||
Total assets less current liabilities | 4,315,702 | 2,581,873 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 | (
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Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Other amounts | 4,310,447 | 2,580,873 | ||
4,310,447 | 2,580,873 | |||
Members' other interests | ||||
Members' capital classified as equity | 1,000 | 1,000 | ||
1,000 | 1,000 | |||
4,311,447 | 2,581,873 | |||
Total members' interests | ||||
Loans and other debts due to members | 4,310,447 | 2,580,873 | ||
Members' other interests | 1,000 | 1,000 | ||
4,311,447 | 2,581,873 |
Members' responsibilities:
The financial statements of Lewis & Partners LLP (registered number:
M J Clarke
Designated member |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Lewis & Partners LLP is a limited liability partnership, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regimeand the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2018 (SORP 2018).
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The entity only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Income Statement.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2021 |
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Additions |
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At 31 March 2022 |
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Accumulated depreciation | |||
At 01 April 2021 |
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Charge for the financial year |
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At 31 March 2022 |
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Net book value | |||
At 31 March 2022 |
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At 31 March 2021 |
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2022 | 2021 | ||
£ | £ | ||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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Other taxation and social security |
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2022 | 2021 | ||
£ | £ | ||
Other creditors |
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Commitments
Capital commitments are as follows:
2022 | 2021 | ||
£ | £ | ||
Contracted for but not provided for: | |||
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Total future minimum lease payments under non-cancellable operating leases are as follows:
2022 | 2021 | ||
£ | £ | ||
- within one year |
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- between one and five years |
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