Limited Liability Partnership registration number OC327555 (England and Wales)
ROBSONS (PINNER) LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ROBSONS (PINNER) LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ROBSONS (PINNER) LLP
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,539
32,101
Current assets
Debtors
4
179,867
223,600
Cash at bank and in hand
668,005
602,008
847,872
825,608
Creditors: amounts falling due within one year
5
(166,773)
(180,712)
Net current assets
681,099
644,896
Total assets less current liabilities
705,638
676,997
Creditors: amounts falling due after more than one year
6
(104,165)
(154,164)
Net assets attributable to members
601,473
522,833
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
421,473
342,833
Members' other interests
Members' capital classified as equity
180,000
180,000
601,473
522,833

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

ROBSONS (PINNER) LLP
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the members and authorised for issue on 13 October 2023 and are signed on their behalf by:
13 October 2023
Mr D J Young
Designated member
Limited Liability Partnership Registration No. OC327555
ROBSONS (PINNER) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Limited liability partnership information

Robsons (Pinner) LLP is a limited liability partnership incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Leasehold improvements
10% on cost
Fixtures and fittings
25% on reducing balance
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

ROBSONS (PINNER) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
14
13
3
Tangible fixed assets
Leasehold land and buildings
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2022
44,354
70,242
106,431
7,245
228,272
Additions
-
-
546
-
546
Disposals
-
-
-
(3,129)
(3,129)
At 31 March 2023
44,354
70,242
106,977
4,116
225,689
Depreciation and impairment
At 1 April 2022
30,401
63,581
94,944
7,245
196,171
Depreciation charged in the year
3,435
1,665
3,008
-
8,108
Eliminated in respect of disposals
-
-
-
(3,129)
(3,129)
At 31 March 2023
33,836
65,246
97,952
4,116
201,150
Carrying amount
At 31 March 2023
10,518
4,996
9,025
-
24,539
At 31 March 2022
13,953
6,661
11,487
-
32,101
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
80,092
145,870
Other debtors
99,775
77,730
179,867
223,600
ROBSONS (PINNER) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Debtors
(Continued)
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
50,003
50,003
Trade creditors
7,967
15,494
Taxation and social security
101,494
87,719
Other creditors
7,309
27,496
166,773
180,712
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
104,165
154,164

Interest on the bank loan is charged at 2.71% above base rate and is repayable by instalments.

 

7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

8
Fixed and Floating Charge

The members granted a fixed and floating charge over the assets of the LLP in favour of National Westminster Bank Plc on 21 April 2008.

9
Financial commitments, guarantees and contingent liabilities

At the year end, there were financial commitments under non-cancellable agreements of £30,609 (2022 - £14,920)

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