REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Guardian Preservation Services LLP |
REGISTERED NUMBER: |
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 |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
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: |
Guardian Preservation Services LLP (Registered number: OC306329) |
Income Statement |
for the Year Ended 31 March 2023 |
31/3/23 | 31/3/22 |
£ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
3,632 | 11,277 |
Other operating income |
OPERATING PROFIT |
Interest receivable and similar income |
3,733 | 16,137 |
Interest payable and similar expenses |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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 |
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 |
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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Trade debtors |
Other debtors |
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 |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Bank loans |
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 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/23 | 31/3/22 |
£ | £ |
Bank loans |
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. |