Silverfin false 31/03/2023 01/04/2022 31/03/2023 J W Freeman 18/02/2016 S T Freeman 18/02/2016 Z Mewes 18/02/2016 12 September 2023 OC404394 2023-03-31 OC404394 bus:Director1 2023-03-31 OC404394 bus:Director2 2023-03-31 OC404394 bus:Director3 2023-03-31 OC404394 2022-03-31 OC404394 core:CurrentFinancialInstruments 2023-03-31 OC404394 core:CurrentFinancialInstruments 2022-03-31 OC404394 core:Non-currentFinancialInstruments 2023-03-31 OC404394 core:Non-currentFinancialInstruments 2022-03-31 OC404394 core:Vehicles 2022-03-31 OC404394 core:Vehicles 2023-03-31 OC404394 2022-04-01 2023-03-31 OC404394 bus:FullAccounts 2022-04-01 2023-03-31 OC404394 bus:SmallEntities 2022-04-01 2023-03-31 OC404394 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC404394 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC404394 bus:Director1 2022-04-01 2023-03-31 OC404394 bus:Director2 2022-04-01 2023-03-31 OC404394 bus:Director3 2022-04-01 2023-03-31 OC404394 core:Vehicles core:BottomRangeValue 2022-04-01 2023-03-31 OC404394 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 OC404394 2021-04-01 2022-03-31 OC404394 core:Vehicles 2022-04-01 2023-03-31 OC404394 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: OC404394 (England and Wales)

STEVENS PARTNERS LLP

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

STEVENS PARTNERS LLP

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

STEVENS PARTNERS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
STEVENS PARTNERS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,609 33,588
7,609 33,588
Current assets
Debtors 4 253,474 110,696
Cash at bank and in hand 22,414 29,416
275,888 140,112
Creditors: amounts falling due within one year 5 ( 418,700) ( 314,200)
Net current liabilities (142,812) (174,088)
Total assets less current liabilities (135,203) (140,500)
Creditors: amounts falling due after more than one year 6 ( 24,237) ( 34,417)
Net liabilities attributable to members ( 159,440) ( 174,917)
Represented by
Loans and other debts due to members within one year
Other amounts (442,386) (468,992)
(442,386) (468,992)
Members' other interests
Other reserves 282,946 294,075
282,946 294,075
(159,440) (174,917)
Total members' interests
Loans and other debts due to members (442,386) (468,992)
Members' other interests 282,946 294,075
(159,440) (174,917)

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 Stevens Partners LLP (registered number: OC404394) were approved and authorised for issue by the Director on 12 September 2023. They were signed on its behalf by:

S T Freeman
Designated member
STEVENS PARTNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
STEVENS PARTNERS 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

Stevens Partners 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 Unit Q2 The Quadrant Distribution Centre, Quadrant Way, Hardwicke, Gloucester, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 3 3

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 April 2022 108,393 108,393
Disposals ( 22,995) ( 22,995)
At 31 March 2023 85,398 85,398
Accumulated depreciation
At 01 April 2022 74,805 74,805
Charge for the financial year 25,596 25,596
Disposals ( 22,612) ( 22,612)
At 31 March 2023 77,789 77,789
Net book value
At 31 March 2023 7,609 7,609
At 31 March 2022 33,588 33,588

4. Debtors

2023 2022
£ £
Trade debtors 18,000 22,779
Other debtors 235,474 87,917
253,474 110,696

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,096 8,916
Trade creditors 396,616 257,309
Other taxation and social security 12,988 13,917
Other creditors 0 34,058
418,700 314,200

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 24,237 34,417

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

During the year the LLP received net management charges of £nil (2022: £125,000) from entities controlled by the members. The LLP also maintains interest free loan accounts which are unsecured and repayable on demand to such entities.