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REGISTERED NUMBER: OC306329 (England and Wales)















Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Guardian Preservation Services LLP

Guardian Preservation Services LLP (Registered number: OC306329)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

General Information 1

Report of the Members 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 6


Guardian Preservation Services LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mrs H K Herbert
T D Herbert





REGISTERED OFFICE: 77b Queens Road
Cheltenham
GL50 2NH





REGISTERED NUMBER: OC306329 (England and Wales)





ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS

Guardian Preservation Services LLP (Registered number: OC306329)

Report of the Members
for the Year Ended 31 March 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of surveyors.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mrs H K Herbert
T D Herbert

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £385 (2022 - £14,801 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is agreed between the members at the beginning of the financial year, taking into account the anticipated cash needs of the LLP. Any variation will be agreed by the members.

The limited liability partnership maintains a flexible policy for the subscription of capital. Members will be invited to subscribe from time to time such that the limited liability partnership maintains its desired level of debt to capital. Members' capital is repaid on retirement by agreement of the members.

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:





T D Herbert - Designated member


6 November 2023

Guardian Preservation Services LLP (Registered number: OC306329)

Income Statement
for the Year Ended 31 March 2023

31/3/23 31/3/22
£    £   

TURNOVER 59,065 46,368

Cost of sales 44,155 25,867
GROSS PROFIT 14,910 20,501

Administrative expenses 11,278 9,224
3,632 11,277

Other operating income 101 4,840
OPERATING PROFIT 3,733 16,117

Interest receivable and similar income - 20
3,733 16,137

Interest payable and similar expenses 4,118 1,336
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(385





)





14,801

Guardian Preservation Services LLP (Registered number: OC306329)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 111,737 137,012

CURRENT ASSETS
Stocks 100 460
Debtors 5 73,312 4,392
Cash at bank 2,447 6,867
75,859 11,719
CREDITORS
Amounts falling due within one year 6 109,314 3,932
NET CURRENT (LIABILITIES)/ASSETS (33,455 ) 7,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,282

144,799

CREDITORS
Amounts falling due after more than one
year

7

78,282

84,589
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

60,210

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

-

60,210

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 - 60,210
Amounts due from members 5 (69,875 ) (521 )
(69,875 ) 59,689

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

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.

Guardian Preservation Services LLP (Registered number: OC306329)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 6 November 2023 and were signed by:





T D Herbert - Designated member

Guardian Preservation Services LLP (Registered number: OC306329)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Guardian Preservation Services 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Going concern
Despite net current liabilities of £33,455 at 31 March 2023, the financial statements have been prepared on a going concern basis. The members have reviewed the future cash flows of the business and have expressed their ongoing intentions, along with those of Guardian Waterproofing Limited, to financially support the LLP for the foreseeable future. Given this, the members deem the going concern basis of preparation to be appropriate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - NIL ) .

Guardian Preservation Services LLP (Registered number: OC306329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2022 124,000 17,715 27,641 18,279 187,635
Disposals - (12,176 ) (27,641 ) (16,219 ) (56,036 )
At 31 March 2023 124,000 5,539 - 2,060 131,599
Depreciation
At 1 April 2022 12,400 16,091 5,528 16,604 50,623
Charge for year 1,240 457 - 419 2,116
Eliminated on disposal - (12,176 ) (5,528 ) (15,173 ) (32,877 )
At 31 March 2023 13,640 4,372 - 1,850 19,862
Net book value
At 31 March 2023 110,360 1,167 - 210 111,737
At 31 March 2022 111,600 1,624 22,113 1,675 137,012

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 2,347 3,229
Other debtors 70,965 1,163
73,312 4,392

Other debtors includes amounts due from members of £69,875 (2022 - £521).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 3,232 -
Trade creditors 1,382 1,240
Taxation and social security 5,654 939
Other creditors 99,046 1,753
109,314 3,932

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 78,282 84,589

Guardian Preservation Services LLP (Registered number: OC306329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/23 31/3/22
£    £   
Within one year 415 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 81,514 84,589

The bank loan is secured by fixed and floating charges over the company assets including the freehold property.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31/3/23 31/3/22
£    £   
Loans from members - 1,568
Amounts owed to members in respect of profits - 58,642
- 60,210

Falling due within one year - 60,210

Loans and other debts due to members rank equally with debts due to unsecured ordinary creditors in the event of a winding up.

11. RELATED PARTY DISCLOSURES

Guardian Waterproofing Limited
A company controlled by T D Herbert and Mrs H K Herbert

During the year, the LLP provided surveying services to the company totalling £20,000 (2022 - £Nil).

The LLP has borrowed funds from the company during the year. At 31 March 2023, the LLP owed the company £97,380 (2022 - £Nil). The loan is interest free and has no fixed repayment terms.