Registered number
OC356747
Anthony G Thorne LLP
Filleted Accounts
31 March 2023
Anthony G Thorne LLP
Registered number: OC356747
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,000 2,000
Tangible assets 4 40,493 21,905
42,493 23,905
Current assets
Debtors 5 7,690 10,661
Cash at bank and in hand 48,468 27,227
56,158 37,888
Creditors: amounts falling due within one year 6 (269) (100)
Net current assets 55,889 37,788
Total assets less current liabilities 98,382 61,693
Net assets attributable to members 98,382 61,693
Represented by:
Loans and other debts due to members 7 16,652 17,966
Members' other interests
Other reserves 81,730 43,727
98,382 61,693
Total members' interests
Loans and other debts due to members 7 16,652 17,966
Members' other interests 81,730 43,727
98,382 61,693
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 22 October 2023 and signed on their behalf by:
A G Thorne
Designated member
Anthony G Thorne LLP
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings are not depreciated
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 5,000
At 31 March 2023 5,000
Amortisation
At 1 April 2022 3,000
At 31 March 2023 3,000
Net book value
At 31 March 2023 2,000
At 31 March 2022 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 9,680 6,607 43,000 59,287
Additions - - 38,515 38,515
Disposals - - (43,000) (43,000)
At 31 March 2023 9,680 6,607 38,515 54,802
Depreciation
At 1 April 2022 - 5,982 31,400 37,382
Charge for the year - 624 7,703 8,327
On disposals - - (31,400) (31,400)
At 31 March 2023 - 6,606 7,703 14,309
Net book value
At 31 March 2023 9,680 1 30,812 40,493
At 31 March 2022 9,680 625 11,600 21,905
5 Debtors 2023 2022
£ £
Trade debtors 7,690 10,161
Other debtors - 500
7,690 10,661
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 144 -
Other creditors 125 100
269 100
7 Loans and other debts due to members 2023 2022
£ £
Loans from members 30,116 27,426
Retirement benefit liabilities in respect of current members (1,595) (1,595)
Amounts due to members in respect of profits (11,869) (7,865)
16,652 17,966
Amounts falling due within one year 16,652 17,966
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Anthony G Thorne LLP is a limited liability partnership incorporated in England. Its registered office is:
43 Mornington Road
Chingford
London
E4 7DT
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