Silverfin false 30/06/2023 01/07/2022 30/06/2023 M I Fretten 24/03/2006 C L Hallett 01/07/2018 M E Hayter 01/07/2013 O B Mckinney 01/01/2007 L Young 01/07/2009 10 October 2023 OC318659 2023-06-30 OC318659 bus:Director1 2023-06-30 OC318659 bus:Director2 2023-06-30 OC318659 bus:Director3 2023-06-30 OC318659 bus:Director4 2023-06-30 OC318659 bus:Director5 2023-06-30 OC318659 2022-06-30 OC318659 core:CurrentFinancialInstruments 2023-06-30 OC318659 core:CurrentFinancialInstruments 2022-06-30 OC318659 core:Non-currentFinancialInstruments 2023-06-30 OC318659 core:Non-currentFinancialInstruments 2022-06-30 OC318659 core:Goodwill 2022-06-30 OC318659 core:Goodwill 2023-06-30 OC318659 core:LandBuildings 2022-06-30 OC318659 core:FurnitureFittings 2022-06-30 OC318659 core:OfficeEquipment 2022-06-30 OC318659 core:ComputerEquipment 2022-06-30 OC318659 core:LandBuildings 2023-06-30 OC318659 core:FurnitureFittings 2023-06-30 OC318659 core:OfficeEquipment 2023-06-30 OC318659 core:ComputerEquipment 2023-06-30 OC318659 2022-07-01 2023-06-30 OC318659 bus:FullAccounts 2022-07-01 2023-06-30 OC318659 bus:SmallEntities 2022-07-01 2023-06-30 OC318659 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 OC318659 bus:LimitedLiabilityPartnershipLLP 2022-07-01 2023-06-30 OC318659 bus:Director1 2022-07-01 2023-06-30 OC318659 bus:Director2 2022-07-01 2023-06-30 OC318659 bus:Director3 2022-07-01 2023-06-30 OC318659 bus:Director4 2022-07-01 2023-06-30 OC318659 bus:Director5 2022-07-01 2023-06-30 OC318659 core:Goodwill core:TopRangeValue 2022-07-01 2023-06-30 OC318659 core:FurnitureFittings 2022-07-01 2023-06-30 OC318659 core:ComputerEquipment core:TopRangeValue 2022-07-01 2023-06-30 OC318659 2021-07-01 2022-06-30 OC318659 core:Goodwill 2022-07-01 2023-06-30 OC318659 core:LandBuildings 2022-07-01 2023-06-30 OC318659 core:OfficeEquipment 2022-07-01 2023-06-30 OC318659 core:ComputerEquipment 2022-07-01 2023-06-30 OC318659 core:CurrentFinancialInstruments 2022-07-01 2023-06-30 OC318659 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: OC318659 (England and Wales)

FRETTENS LLP

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

FRETTENS LLP

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

FRETTENS LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 30 June 2023
FRETTENS LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 30 June 2023
DESIGNATED MEMBERS M I Fretten
C L Hallett
M E Hayter
O B Mckinney
L Young
REGISTERED OFFICE The Saxon Centre
11 Bargates
Christchurch
BH23 1PZ
United Kingdom
REGISTERED NUMBER OC318659 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Towngate House
2-8 Parkstone Road
Poole
Dorset BH15 2PW
FRETTENS LLP

BALANCE SHEET

As at 30 June 2023
FRETTENS LLP

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 119,700 132,300
Tangible assets 4 112,913 116,552
232,613 248,852
Current assets
Debtors 5 1,941,555 1,663,128
Cash at bank and in hand 1,339,662 1,031,903
3,281,217 2,695,031
Creditors: amounts falling due within one year 6 ( 959,261) ( 716,344)
Net current assets 2,321,956 1,978,687
Total assets less current liabilities 2,554,569 2,227,539
Creditors: amounts falling due after more than one year 7 0 ( 316,667)
Net assets attributable to members 2,554,569 1,910,872
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 551,250 543,750
Other amounts 2,003,319 1,367,122
2,554,569 1,910,872
Members' other interests
0 0
2,554,569 1,910,872
Total members' interests
Loans and other debts due to members 2,554,569 1,910,872
2,554,569 1,910,872

For the financial year ending 30 June 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

Frettens LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Frettens LLP (registered number: OC318659) were approved and authorised for issue by the Board of Directors on 10 October 2023. They were signed on its behalf by:

M I Fretten
Designated member
FRETTENS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
FRETTENS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Frettens LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is The Saxon Centre, 11 Bargates, Christchurch, BH23 1PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 15 % reducing balance
Office equipment not depreciated
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intend either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

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.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 80 65

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2022 300,816 300,816
At 30 June 2023 300,816 300,816
Accumulated amortisation
At 01 July 2022 168,516 168,516
Charge for the financial year 12,600 12,600
At 30 June 2023 181,116 181,116
Net book value
At 30 June 2023 119,700 119,700
At 30 June 2022 132,300 132,300

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2022 30,508 407,497 35,145 4,505 477,655
Additions 0 4,206 0 0 4,206
At 30 June 2023 30,508 411,703 35,145 4,505 481,861
Accumulated depreciation
At 01 July 2022 0 356,598 0 4,505 361,103
Charge for the financial year 0 7,845 0 0 7,845
At 30 June 2023 0 364,443 0 4,505 368,948
Net book value
At 30 June 2023 30,508 47,260 35,145 0 112,913
At 30 June 2022 30,508 50,899 35,145 0 116,552

5. Debtors

2023 2022
£ £
Trade debtors 410,992 507,369
Other debtors 1,530,563 1,155,759
1,941,555 1,663,128

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 277,439 100,000
Other taxation and social security 329,259 267,807
Other creditors 352,563 348,537
959,261 716,344

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 316,667

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
finance leases entered into 347,442 441,772