REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
PANTHERA PRIVATE OFFICE LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
PANTHERA PRIVATE OFFICE LLP |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Contents of the Financial Statements |
for the year ended 31st March 2023 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
PANTHERA PRIVATE OFFICE LLP |
General Information |
for the year ended 31st March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Statement of Financial Position |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 161,553 | 13,661 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
1,273,238 |
972,476 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 41,000 | 41,000 |
Other reserves | ( |
) | ( |
) |
161,553 | 13,661 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 1,273,238 | 972,476 |
Members' other interests | (1,111,685 | ) | (958,815 | ) |
161,553 | 13,661 |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Statement of Financial Position - continued |
31st 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. |
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 Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Notes to the Financial Statements |
for the year ended 31st March 2023 |
1. | STATUTORY INFORMATION |
Panthera Private Office 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 |
Preparation of consolidated financial statements |
The financial statements contain information about Panthera Private Office LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements. |
The financial statements contain information about Panthera Private Office LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 399 (2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements because the LLP is subject to the small companies regime. |
Critical accounting judgements and key sources of estimation uncertainty |
In preparing these financial statements, the members have had to make the following judgements: |
Property, plant & equipment |
Items of property, plant & equipment are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on the number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. |
As of 1 April 2021, the residual useful economic lives of short leasehold and improvements to property were reassessed, resulting in an extension of their expected lives to 31 August 2027. The overall impact of this change in accounting estimate is to reduce the charge for the year ended 31 March 2022 by £34,356. |
Accrued and deferred income |
Income is periodic in nature and contracts are assessed at the date of the Statement of Financial Position to determine whether adjustment needs to be made either for amounts that have been invoiced in respect of future periods or for periods where services have been rendered where an invoice has not yet been raised. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable for services performed during the accounting period, excluding discounts, rebates, value added tax or other sales taxes. |
Tangible fixed assets |
Short leasehold | - |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. |
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. |
Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
Where financial assets are found to be impaired, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of their fair value, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
Having considered a period of at least 12 months from the date of approval of these financial statements, the members have a reasonable expectation that the LLP will continue to have adequate resources to continue in operational existence in the foreseeable future and consequently have adopted the going concern basis of accounting in preparing the financial statements. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Improvements | Fixtures |
Short | to | and | Computer |
leasehold | property | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2022 |
and 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | FIXED ASSET INVESTMENTS |
Loans to |
group |
undertakings |
£ |
At 1st April 2022 |
Repayment in year | ( |
) |
At 31st March 2023 |
The LLP is a member of two subsidiary LLPs. |
Name |
Country of Incorporation |
Voting Rights |
Principal Activity |
Panthera Finance LLP | England and Wales | 66.67% | Mortgage broking |
Panthera Tax LLP | England and Wales | 66.67% | Tax advisory services |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Prepayments |
Accrued income |
PANTHERA PRIVATE OFFICE LLP (REGISTERED NUMBER: OC343083) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Payments on account |
Trade creditors |
Social security and other taxes |
VAT |
Other creditors |
Deferred income |
Accrued expenses |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans due to members are subordinated to unsecured creditors. Other debts due to members rank pari passu with unsecured creditors. No protection is offered by members to creditors in excess of capital or loans already contributed to the LLP. |
Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
Panthera Private Office LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Panthera Private Office LLP for the year ended 31st March 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Panthera Private Office LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Panthera Private Office LLP and state those matters that we have agreed to state to the members of Panthera Private Office LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Panthera Private Office LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Panthera Private Office LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Panthera Private Office LLP. You consider that Panthera Private Office LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Panthera Private Office LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |