Registered number
OC402883
ASHBY AND PARTNERS
Filleted Accounts
31 January 2023
ASHBY AND PARTNERS
Registered number: OC402883
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 519 -
Current assets
Debtors 4 100 100
Cash at bank and in hand 1,284 1,437
1,384 1,537
Creditors: amounts falling due within one year 5 (1,759) (1,113)
Net current (liabilities)/assets (375) 424
Total assets less current liabilities 144 424
Creditors: amounts falling due after more than one year 6 (250) (250)
Net (liabilities)/assets attributable to members (106) 174
Represented by:
Loans and other debts due to members 7 281 281
Members' other interests
Other reserves (387) (107)
(106) 174
Total members' interests
Loans and other debts due to members 7 281 281
Members' other interests (387) (107)
(106) 174
Average number of employees 0 0
For the period ended 31 January 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 23 October 2023 and signed on their behalf by:
M S Hussain
Designated member
ASHBY AND PARTNERS
Notes to the Accounts
for the period from 30 March 2022 to 31 January 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.
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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 649
At 31 January 2023 649
Depreciation
Charge for the period 130
At 31 January 2023 130
Net book value
At 31 January 2023 519
4 Debtors 2023 2022
£ £
Other debtors 100 100
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 1,759 1,113
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 250 250
7 Loans and other debts due to members 2023 2022
£ £
Loans from members 281 281
Amounts falling due within one year 281 281
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
ASHBY AND PARTNERS is a limited liability partnership incorporated in England. Its registered office is:
272 London Road
Wallington
Surrey
SM6 7DJ
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