Limited Liability Partnership Registration No. OC431691 (England and Wales)
Mansfield Partners LLP
Annual report and unaudited financial statements
for the year ended 31 March 2022
Pages for filing with the Registrar
Mansfield Partners LLP
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Mansfield Partners LLP
Statement of financial position
As at 31 March 2022
31 March 2022
Page 1
2022
2021
Notes
£
£
ASSETS
Current assets
-
-
Total assets
-
-
MEMBERS' INTERESTS
LIABILITIES
Members' interests and liabilities
-
-

The members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 March 2022 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 13 September 2022 and are signed on their behalf by:
13 September 2022
George Bossom
Designated member
Limited Liability Partnership Registration No. OC431691
Mansfield Partners LLP
Notes to the financial statements
For the year ended 31 March 2022
Page 2
1
Accounting policies
Limited liability partnership information

Mansfield Partners LLP is a limited liability partnership incorporated in England and Wales. The registered office is Overbury Estate Office, Overbury, Tewkesbury, GL20 7NR.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small LLPs regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Members' participating interests

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 section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Mansfield Partners LLP
Notes to the financial statements (continued)
For the year ended 31 March 2022
Page 3
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2022
2021
Number
Number
Total
-
0
-
0
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