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REGISTERED NUMBER: OC341053 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PETERSFIELDS LLP

PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETERSFIELDS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mrs D A Kiddy
N K Timmings





REGISTERED OFFICE: Milton Hall
Ely Road
Milton
Cambridge
CB24 6WZ





REGISTERED NUMBER: OC341053 (England and Wales)





ACCOUNTANTS: Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,117 1,880

CURRENT ASSETS
Debtors 5 73,351 63,011
Cash at bank and in hand 98,873 105,218
172,224 168,229
CREDITORS
Amounts falling due within one year 6 58,743 56,459
NET CURRENT ASSETS 113,481 111,770
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,598

113,650

CREDITORS
Amounts falling due after more than one
year

7

34,260

39,816
NET ASSETS ATTRIBUTABLE TO
MEMBERS

81,338

73,834

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

81,338

73,834

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 81,338 73,834

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 31 March 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.

PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)

BALANCE SHEET - continued
31 MARCH 2023


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 20 September 2023 and were signed by:




Mrs D A Kiddy - Designated member




N K Timmings - Designated member


PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

Revenue in respect of professional services is recognised by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Unbilled revenue is included within current assets as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer & office equipment - 25% on cost

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2022 - 2 ) .

PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Computer
& office
equipment
£   
COST
At 1 April 2022 4,439
Additions 1,123
Disposals (928 )
At 31 March 2023 4,634
DEPRECIATION
At 1 April 2022 2,559
Charge for year 886
Eliminated on disposal (928 )
At 31 March 2023 2,517
NET BOOK VALUE
At 31 March 2023 2,117
At 31 March 2022 1,880

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,188 27,810
Amounts recoverable on contracts 20,364 17,241
Prepayments 16,799 17,960
73,351 63,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 12,334 11,942
Social security and other taxes 1,563 1,541
VAT 30,422 26,791
Other creditors 3,038 3,682
Accrued expenses 5,830 6,947
58,743 56,459

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans - more than 5 years 12,037 17,593
34,260 39,816

PETERSFIELDS LLP (REGISTERED NUMBER: OC341053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years 12,037 17,593

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability on the members to reduce the amount of 'Members' Other Interests'.

9. OTHER FINANCIAL COMMITMENTS

The LLP had total guarantees and commitments at the balance sheet date of £4,660 (2022: £24,164).