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REGISTERED NUMBER: OC351110 (England and Wales)















POWELL WILLIAMS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWELL WILLIAMS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DESIGNATED MEMBERS: M D Hunt
D J Ward





REGISTERED OFFICE: 150 Minories
London
EC3N 1LS





REGISTERED NUMBER: OC351110 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235,858 275,168
Tangible assets 5 98,508 125,232
334,366 400,400

CURRENT ASSETS
Debtors 6 768,590 669,385
Cash at bank and in hand 263,838 555,454
1,032,428 1,224,839
CREDITORS
Amounts falling due within one year 7 484,979 385,099
NET CURRENT ASSETS 547,449 839,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

881,815

1,240,140

CREDITORS
Amounts falling due after more than one year 8 298,994 110,024
NET ASSETS ATTRIBUTABLE TO
MEMBERS

582,821

1,130,116

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

BALANCE SHEET - continued
30 JUNE 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

276,820

378,115

MEMBERS' OTHER INTERESTS
Capital accounts 306,001 752,001
582,821 1,130,116

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 276,820 378,115
Members' other interests 306,001 752,001
582,821 1,130,116

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 October 2023 and were signed by:




M D Hunt - Designated member




D J Ward - Designated member


POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Powell Williams LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The LLP continually reviews its approach to estimations and judgements within the financial statements with a view to mitigate material misstatements. Historical experience along with other factors are used to create prudent accounting policies. Combining these policies with informed forecasts of the LLP's future, enables fair and consistent assumptions and estimates to be concluded.

Significant provisions are monitored by management and best estimates are maintained in accordance with any legal or contractual requirements.

Turnover
Turnover represents the net value of services provided, excluding value added tax.

Goodwill
Goodwill represents the value of goodwill transferred into the Limited Liability Partnership by the Founding Members less amortisation and any impairment.

It is being amortised over a period of 8 years from 1 July 2021.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the LLP does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 19 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 314,478
AMORTISATION
At 1 July 2022 39,310
Charge for year 39,310
At 30 June 2023 78,620
NET BOOK VALUE
At 30 June 2023 235,858
At 30 June 2022 275,168

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 99,269 23,800 315,440 438,509
Additions - - 5,033 5,033
At 30 June 2023 99,269 23,800 320,473 443,542
DEPRECIATION
At 1 July 2022 80,471 22,330 210,476 313,277
Charge for year 4,699 368 26,690 31,757
At 30 June 2023 85,170 22,698 237,166 345,034
NET BOOK VALUE
At 30 June 2023 14,099 1,102 83,307 98,508
At 30 June 2022 18,798 1,470 104,964 125,232

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 610,462 518,500
Other debtors 6,446 6,446
Prepayments 40,767 31,427
Amounts recoverable on
contracts 110,915 113,012
768,590 669,385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan 40,290 39,425
Other Loans 15,565 16,503
Trade creditors 57,674 40,354
Social security and other taxes 138,150 141,474
Other creditors 120,962 3,929
Accrued expenses 112,338 143,414
484,979 385,099

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 48,101 88,529
Other loans 4,893 21,495
Other creditors 246,000 -
298,994 110,024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 124,571 151,268
Between one and five years 27,362 54,584
151,933 205,852

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 56,830 87,121

11. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 276,820 378,115

Falling due within one year 276,820 378,115

Loans and other debts due to members are payable after all other creditors.