Hedley 9 LLP OC314139 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of a solicitor. Digita Accounts Production Advanced 6.30.9574.0 OC314139 2022-07-01 2023-06-30 OC314139 2023-06-30 OC314139 core:WithinOneYear 2023-06-30 OC314139 core:FurnitureFittings 2023-06-30 OC314139 core:OfficeEquipment 2023-06-30 OC314139 bus:SmallEntities 2022-07-01 2023-06-30 OC314139 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 OC314139 bus:FullAccounts 2022-07-01 2023-06-30 OC314139 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 OC314139 bus:RegisteredOffice 2022-07-01 2023-06-30 OC314139 bus:PartnerLLP1 2022-07-01 2023-06-30 OC314139 bus:PartnerLLP2 2022-07-01 2023-06-30 OC314139 bus:LimitedLiabilityPartnershipLLP 2022-07-01 2023-06-30 OC314139 core:FurnitureFittings 2022-07-01 2023-06-30 OC314139 core:LandBuildings 2022-07-01 2023-06-30 OC314139 core:OfficeEquipment 2022-07-01 2023-06-30 OC314139 countries:AllCountries 2022-07-01 2023-06-30 OC314139 2022-06-30 OC314139 core:FurnitureFittings 2022-06-30 OC314139 core:OfficeEquipment 2022-06-30 OC314139 2021-08-01 2022-06-30 OC314139 2022-06-30 OC314139 core:WithinOneYear 2022-06-30 OC314139 core:FurnitureFittings 2022-06-30 OC314139 core:OfficeEquipment 2022-06-30 xbrli:pure iso4217:GBP

Registration number: OC314139

Hedley 9 LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Hedley 9 LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 7

Balance Sheet

2

Notes to the Financial Statements

4

 

Hedley 9 LLP

Limited liability partnership information

Designated members

Amakhala Limited

Peter McKenna Limited

Registered office

Third Floor
CAI Building
Coble Dene
North Shields
Tyne & Wear
NE29 6DE

Accountants

Azets
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Hedley 9 LLP

(Registration number: OC314139)
Balance Sheet as at 30 June 2023

Note

30 June 2023
 £

30 June 2022
 £

Fixed assets

 

Tangible assets

3

-

56,207

Current assets

 

Stocks

4

-

761,257

Debtors

5

-

793,748

Cash and short-term deposits

 

-

2,188,684

 

-

3,743,689

Creditors: Amounts falling due within one year

6

-

(578,825)

Net current assets

 

-

3,164,864

Net assets attributable to members

 

-

3,221,071

Represented by:

 

Loans and other debts due to members

 

Other amounts

7

-

3,221,071

   

-

3,221,071

Total members' interests

 

Loans and other debts due to members

 

-

3,221,071

   

-

3,221,071

For the year ending 30 June 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Hedley 9 LLP

(Registration number: OC314139)
Balance Sheet as at 30 June 2023 (continued)

The financial statements of Hedley 9 LLP (registered number OC314139) were approved by the Board and authorised for issue on 9 October 2023. They were signed on behalf of the limited liability partnership by:

.........................................
Amakhala Limited
Designated member

   
 

Hedley 9 LLP

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The LLP is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the LLP information page.

These financial statements have been prepared using the historical cost convention.

These financial statements are prepared in sterling which is the functional currency of the LLP.

Revenue recognition

Revenue is recognised to the extent that the LLP obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

 

Hedley 9 LLP

Notes to the Financial Statements for the Year Ended 30 June 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Long leasehold land and buildings

Straight line over life of lease

Fixtures and fittings

20% straight line

Office equipment

33% reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2022 - 47).

 

Hedley 9 LLP

Notes to the Financial Statements for the Year Ended 30 June 2023 (continued)

3

Tangible fixed assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost

At 1 July 2022

40,924

63,332

104,256

Transfers

(40,924)

(63,332)

(104,256)

At 30 June 2023

-

-

-

Depreciation

At 1 July 2022

18,479

29,570

48,049

Transfers

(18,479)

(29,570)

(48,049)

At 30 June 2023

-

-

-

Net book value

At 30 June 2023

-

-

-

At 30 June 2022

22,445

33,762

56,207

4

Stocks

30 June 2023
 £

30 June 2022
 £

Work in progress

-

761,257

5

Debtors

30 June 2023
 £

30 June 2022
 £

Trade debtors

-

514,684

Prepayments and accrued income

-

279,064

Total current trade and other debtors

-

793,748

 

Hedley 9 LLP

Notes to the Financial Statements for the Year Ended 30 June 2023 (continued)

6

Creditors: Amounts falling due within one year

30 June 2023
 £

30 June 2022
 £

Trade creditors

-

170,524

Other creditors

-

175,319

Accruals and deferred income

-

96,530

Taxation and social security

-

136,452

-

578,825

7

Analysis of other amounts

30 June 2023
 £

30 June 2022
 £

Money owed to members by the LLP in respect of profits

-

3,221,071

8

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £Nil (2022 - £12,566).

9

Control

In the opinion of the members there is no ultimate controlling party.