REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
MICHAEL EYRES PARTNERSHIP LLP |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
MICHAEL EYRES PARTNERSHIP LLP |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
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 |
MICHAEL EYRES PARTNERSHIP LLP |
General Information |
for the Year Ended 31 March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Lloyds Bank Chambers |
Hustlergate |
Bradford |
BD1 1UQ |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
584,761 |
663,604 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
584,761 |
663,604 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 584,761 | 663,604 |
Amounts due from members | 5 | (4,277 | ) | - |
580,484 | 663,604 |
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. |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
Balance Sheet - continued |
31 March 2023 |
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 |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Michael Eyres Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Technical equipment | 20% | - | of cost |
Office furniture and equipment | 15% | - | of net book amount |
Motor vehicles | 25% | - | of cost or net book amount |
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. |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Taxation |
The tax payable on the profits of the limited liability partnership is the liability of the individual members. An amount is retained from each member to cover the members' estimated liability for income tax and social security contributions on their profit share. The amounts retained from allocated profits are shown as a separate component of 'loans and other debts due to members'. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | TANGIBLE FIXED ASSETS |
Office |
furniture |
Technical | and | Motor |
equipment | equipment | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Motor vehicles with a total net book amount of £26,547 (2022 - £35,396) are held under hire purchase contracts. Total depreciation charged in respect of these vehicles for the year amounted to £8,849 (2022 - £11,799). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts due from members | 4,277 | - |
Due from former member | 4,079 | 4,079 |
Accrued income |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Social security and other taxes |
Due to former member | 825 | 825 |
Accruals and deferred income |
MICHAEL EYRES PARTNERSHIP LLP (REGISTERED NUMBER: OC326489) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 440,168 | 452,579 |
Taxation provision accounts | 144,593 | 211,025 |
584,761 | 663,604 |
Falling due within one year | 584,761 | 663,604 |
Members' capital classified as a liability is unsecured and ranks equally with debts owed to other unsecured creditors. |
9. | ULTIMATE CONTROLLING PARTY |
In the opinion of the members there is no controlling party. |