Limited Liability Partnership Registration No. OC420724 (England and Wales)
STOKOE RODGER LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
STOKOE RODGER LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
STOKOE RODGER LLP
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
31,708
44,891
Current assets
Debtors
5
625,808
629,803
Cash at bank and in hand
382,078
414,517
1,007,886
1,044,320
Creditors: amounts falling due within one year
7
(205,650)
(271,794)
Net current assets
802,236
772,526
Total assets less current liabilities
833,944
817,417
Creditors: amounts falling due after more than one year
8
(122,257)
(177,973)
Net assets attributable to members
711,687
639,444
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
711,687
639,444

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.

The financial statements were approved by the members and authorised for issue on 24 November 2023 and are signed on their behalf by:
24 November 2023
MM Bradley
SG Charlton
Designated member
Designated Member
Limited Liability Partnership Registration No. OC420724
STOKOE RODGER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Limited liability partnership information

Stokoe Rodger LLP is a limited liability partnership incorporated in England and Wales. The registered office is St Matthews House, Haugh Lane, Hexham, Northumberland.

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 January 2017, 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. The financial statements have been prepared under the historical cost convention.

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 £.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

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:

Office Equipment
25% reducing balance
Fixtures and fittings
20% reducing balance
Computers
33% straight line

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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

STOKOE RODGER LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2023
2022
Number
Number
41
38
4
Tangible fixed assets
Office Equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2022
10,479
7,369
86,330
104,178
Additions
1,839
-
1,720
3,559
At 31 March 2023
12,318
7,369
88,050
107,737
Depreciation and impairment
At 1 April 2022
9,143
4,868
45,276
59,287
Depreciation charged in the year
469
539
15,734
16,742
At 31 March 2023
9,612
5,407
61,010
76,029
Carrying amount
At 31 March 2023
2,706
1,962
27,040
31,708
At 31 March 2022
1,336
2,501
41,054
44,891
STOKOE RODGER LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
198,645
290,563
Gross amounts owed by contract customers
407,048
323,481
Prepayments and accrued income
20,115
15,759
625,808
629,803
6
Loans and overdrafts
2023
2022
£
£
Bank loans
184,242
247,803
Other loans
-
48,697
184,242
296,500
Payable within one year
61,985
118,527
Payable after one year
122,257
177,973
7
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans
6
61,985
69,830
Other borrowings
6
-
48,697
Trade creditors
26,922
22,913
Other taxation and social security
108,948
121,487
Accruals and deferred income
7,795
8,867
205,650
271,794
8
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
6
122,257
177,973
STOKOE RODGER LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
9
Loans and other debts due to members
2023
2022
£
£
Analysis of loans
Amounts falling due within one year
711,687
639,444

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

10
Operating lease commitments

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
76,515
74,792
Between two and five years
16,601
71,294
93,116
146,086
11
Members' transactions

During the year , Stokoe Rodger LLP rented property from a partnership in which some of the partners are members of the LLP. The rent paid to the partnership was £60,325.

 

12
Ultimate controlling party

There is no overall ultimate controlling party.

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