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REGISTERED NUMBER: OC354589 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 30th April 2023

for

Spencer Munson LLP

Spencer Munson LLP (Registered number: OC354589)






Contents of the Financial Statements
for the Year Ended 30th April 2023




Page

Report of the Members 1

Chartered Certified Accountants' Report 2

Profit and Loss Account 3

Balance Sheet 4

Reconciliation of Members' Interests 5

Notes to the Financial Statements 7


Spencer Munson LLP (Registered number: OC354589)

Report of the Members
for the Year Ended 30th April 2023

The members present their report with the financial statements of the LLP for the year ended 30th April 2023.

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

S R Munson
Mrs C A Munson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £10,525 (2022 - £4,541 profit).

MEMBERS' INTERESTS
All members may be required to subscribe to the capital of the LLP from time to time depending upon the financing
requirements of the business.The profits/losses are distributed equally to 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). 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:





S R Munson - Designated member


31st July 2023

Chartered Certified Accountants' Report to the Members
on the Unaudited Financial Statements of
Spencer Munson LLP


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 Spencer Munson LLP for the year ended 30th April 2023 which comprise the Profit and Loss Account, Balance Sheet, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of Spencer Munson 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 Spencer Munson LLP and state those matters that we have agreed to state to the members of Spencer Munson LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Spencer Munson 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 profit of Spencer Munson LLP. You consider that Spencer Munson 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 Spencer Munson 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.






Davis Grant Limited
Chartered Certified Accountants
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR


1st August 2023

Spencer Munson LLP (Registered number: OC354589)

Profit and Loss Account
for the Year Ended 30th April 2023

2023 2022
£    £   

TURNOVER 416,000 410,000

Cost of sales 18,311 57,428
GROSS PROFIT 397,689 352,572

Administrative expenses 387,164 348,108
10,525 4,464

Other operating income - 77
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




10,525




4,541

Spencer Munson LLP (Registered number: OC354589)

Balance Sheet
30th April 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 107,209 81,468
Cash at bank and in hand 10,863 3,930
118,072 85,398
CREDITORS
Amounts falling due within one year 5 107,277 85,128
NET CURRENT ASSETS 10,795 270
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

10,795

270

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

10,795

270

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 10,795 270

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 30th April 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.

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 31st July 2023 and were signed by:





S R Munson - Designated member

Spencer Munson LLP (Registered number: OC354589)

Reconciliation of Members' Interests
for the Year Ended 30th April 2023


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 270
Amount due from members -
Balance at 1st May 2022 - 270 270
Profit for the financial year
available for discretionary division
among members


10,525


-


10,525


Members' interests after profit for
the year

10,525

270

10,795

Other divisions of profit (10,525 ) 10,525 -
Amount due to members 10,795
Amount due from members -
Balance at 30th April 2023 - 10,795 10,795

Spencer Munson LLP (Registered number: OC354589)

Reconciliation of Members' Interests
for the Year Ended 30th April 2023

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 4,104
Amount due from members -
Balance at 1st May 2021 - 4,104 4,104
Profit for the financial year
available for discretionary division
among members


4,541


-


4,541


Members' interests after profit for
the year

4,541

4,104

8,645

Other divisions of profit (4,541 ) 4,541 -
Introduced by members - 1,625 1,625
Drawings on account and
distributions of profit

-

(10,000

)

(10,000

)

Amount due to members 270
Amount due from members -
Balance at 30th April 2022 - 270 270

Spencer Munson LLP (Registered number: OC354589)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2023

1. STATUTORY INFORMATION

Spencer Munson LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC354589

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 15 (2022 - 12 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 104,466 81,468
Other debtors 2,743 -
107,209 81,468

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1,053
Amounts owed to related party 69,154 43,674
Taxation and social security 34,193 34,745
Other creditors 3,930 5,656
107,277 85,128

6. LEASING AGREEMENTS
The company's car leasing commitments are £10,803 (2022: £16,907).

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and debts due to members rank behind with those in relation to other creditors.