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Company No: OC414246 (England and Wales)

ROBINSON ENT LLP

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

ROBINSON ENT LLP

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

ROBINSON ENT LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
ROBINSON ENT LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
2023 2022
£ £
Current assets
Debtors 3 20,688 29,909
Cash at bank and in hand 165,703 158,219
186,391 188,128
Creditors: amounts falling due within one year 4 ( 3,257) 0
Net current assets 183,134 188,128
Total assets less current liabilities 183,134 188,128
Net assets attributable to members 183,134 188,128
Represented by
Loans and other debts due to members within one year
Other amounts 183,134 188,128
183,134 188,128
Members' other interests
0 0
183,134 188,128
Total members' interests
Loans and other debts due to members 183,134 188,128
183,134 188,128

For the financial year ending 31 March 2023 the LLP 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.

Members' responsibilities:

The financial statements of Robinson Ent LLP (registered number: OC414246) were approved and authorised for issue by the Director on 05 September 2023. They were signed on its behalf by:

Dr P J Robinson
Designated member
ROBINSON ENT LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 March 2023
ROBINSON ENT LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 March 2023
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves Other amounts Total
£ £ £
Amounts due to members 126,465
Balance at 01 April 2021 0 126,465 126,465
Profit for the financial year available for discretionary division among members 234,737 0 234,737
Members' interest after profit for the financial year 234,737 126,465 361,202
Division of profit (234,737) 234,737 0
Drawings 0 (173,074) (173,074)
Amounts due to members 188,128
Balance at 31 March 2022 0 188,128 188,128
Profit for the financial year available for discretionary division among members 187,808 0 187,808
Members' interest after profit for the financial year 187,808 188,128 375,936
Division of profit (187,808) 187,808 0
Drawings 0 (192,802) (192,802)
Amounts due to members 183,134
Balance at 31 March 2023 0 183,134 183,134

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

ROBINSON ENT LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
ROBINSON ENT LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

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.

General information and basis of accounting

Robinson Ent LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Midland Bridge House, Midland Bridge Road, Bath, BA2 3FP, 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 Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

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'.

Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 2 2

3. Debtors

2023 2022
£ £
Trade debtors 19,354 26,778
Prepayments and accrued income 1,334 3,131
20,688 29,909

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 437 0
Accruals 2,820 0
3,257 0