REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 July 2022 |
for |
GH Canfields LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 July 2022 |
for |
GH Canfields LLP |
GH Canfields LLP (Registered number: OC355284) |
Contents of the Financial Statements |
for the year ended 31 July 2022 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
GH Canfields LLP |
General Information |
for the year ended 31 July 2022 |
DESIGNATED MEMBERS: |
N P Shulman |
M J Shulman |
A D B Taylor |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
& Chartered Accountants |
29 The Avenue |
Harrow |
HA3 7DB |
GH Canfields LLP (Registered number: OC355284) |
Report of the Members |
for the year ended 31 July 2022 |
The members present their report with the financial statements of the LLP for the year ended 31 July 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of providing legal services. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
N P Shulman |
M J Shulman |
A D B Taylor |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £8,735 (2021 - £11,788 loss). |
MEMBERS' INTERESTS |
All amounts due to members classified as liabilities are presented within Loans and other debts due to members in the balance sheet. This will include any unpaid element of remuneration charged as an expense and any unpaid allocated profits arising from discretionary division of profits. Members' capital classified as a liability will also be included. The heading in the balance sheet is broken down in the notes under the same heading and comprises: |
Members' capital classified as a liability under FRS 25 |
Loans and other debts due to/(from) members |
Retirement benefits in respect of current members |
Amounts due to members in respect of profits |
DRAWING POLICY |
The LLP operates a drawings policy which has regard to a cautious estimate of expected profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual member's allocations have been determined. |
ON BEHALF OF THE MEMBERS: |
GH Canfields LLP (Registered number: OC355284) |
Income Statement |
for the year ended 31 July 2022 |
31.7.22 | 31.7.21 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) |
GROSS PROFIT |
Administrative expenses |
(11,932 | ) | (43,477 | ) |
Other operating income |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest receivable and similar income |
(7,869 | ) | (11,424 | ) |
Interest payable and similar expenses |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
(8,735 |
) |
(11,788 |
) |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
(8,735 |
) |
(11,788 |
) |
Members' remuneration charged as an expense | 5 | 8,735 | 11,788 |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
GH Canfields LLP (Registered number: OC355284) |
Balance Sheet |
31 July 2022 |
31.7.22 | 31.7.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
572,577 |
381,731 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
572,577 |
381,731 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 572,577 | 381,731 |
Amounts due from members | 8 | (1,078,913 | ) | (894,269 | ) |
(506,336 | ) | (512,538 | ) |
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. |
GH Canfields LLP (Registered number: OC355284) |
Balance Sheet - continued |
31 July 2022 |
The financial statements were approved by the members of the LLP and authorised for issue on |
GH Canfields LLP (Registered number: OC355284) |
Notes to the Financial Statements |
for the year ended 31 July 2022 |
1. | STATUTORY INFORMATION |
GH Canfields 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 |
Short leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
31.7.22 | 31.7.21 |
£ | £ |
Depreciation - owned assets |
5. | INFORMATION IN RELATION TO MEMBERS |
31.7.22 | 31.7.21 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of loss | (8,735 | ) | (11,788 | ) |
GH Canfields LLP (Registered number: OC355284) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2022 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2021 |
Additions |
At 31 July 2022 |
DEPRECIATION |
At 1 August 2021 |
Charge for year |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
7. | STOCKS |
31.7.22 | 31.7.21 |
£ | £ |
Work-in-progress |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Trade debtors |
Amounts due from members | 1,078,913 | 894,269 |
Other debtors |
VAT |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Loan account-HB Shulman | 286,582 | 310,054 |
Trustees of JE Shulman Trust | 123,862 | 123,862 |
Social security and other taxes |
Wages control account | (336,507 | ) | (354,529 | ) |
Other creditors |
Accrued expenses |
GH Canfields LLP (Registered number: OC355284) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2022 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.22 | 31.7.21 |
£ | £ |
Loans |