Registered number
OC389305
E J Moyle LLP
Filleted Accounts
30 April 2023
E J Moyle LLP
Registered number: OC389305
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,476 15,668
Current assets
Debtors 4 290,290 284,187
Cash at bank and in hand 85,290 283,764
375,580 567,951
Creditors: amounts falling due within one year 5 (202,591) (233,375)
Net current assets 172,989 334,576
Total assets less current liabilities 188,465 350,244
Creditors: amounts falling due after more than one year 6 (87,988) (150,675)
Provisions for liabilities (17,190) (17,190)
Net assets attributable to members 83,287 182,379
Represented by:
Loans and other debts due to members 7 43,287 142,379
Members' other interests
Members' capital classified as equity 40,000 40,000
83,287 182,379
Total members' interests
Loans and other debts due to members 7 43,287 142,379
Members' other interests 40,000 40,000
83,287 182,379
For the year ended 30 April 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 27 November 2023 and signed on their behalf by:
S J Lyon
Designated member
E J Moyle LLP
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Revenue is recognised to the extent that the LLP obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Division of profits
A member's share of the profit or loss for the year is accounted for as an allocation of profits. On the 20th day of each month, or the next business day where the date is not a business day, each Member shall be allocated with, and may draw from, their current account on account of their share of profits such sum as the Member may determine by special majority from time to time. Unallocated profits are included within 'other reserves'.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Office equipment 25% reducing balance
Fixtures and fittings 15% reducing balance
Debtors
Debtors are measured at transaction price (which is usually the fee note value), less any impairment losses for bad and doubtful debts.
Creditors
Creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction cost.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 21 21
3 Tangible fixed assets
Leasehold Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 1 May 2022 2,590 18,934 32,984 54,508
Additions - 3,205 1,049 4,254
At 30 April 2023 2,590 22,139 34,033 58,762
Depreciation
At 1 May 2022 2,590 14,817 21,433 38,840
Charge for the year - 1,098 3,348 4,446
At 30 April 2023 2,590 15,915 24,781 43,286
Net book value
At 30 April 2023 - 6,224 9,252 15,476
At 30 April 2022 - 4,117 11,551 15,668
4 Debtors 2023 2022
£ £
Trade debtors 64,527 47,600
Other debtors 225,763 236,587
290,290 284,187
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 87,964 90,975
Amount due to former member, arising in the year - 41,999
Amount due to former member, arising in the previous year 51,822 36,000
Other taxes and social security costs 37,000 41,819
Other creditors 25,805 22,582
202,591 233,375
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,033 30,033
Loans to former partners 67,955 120,642
87,988 150,675
7 Loans and other debts due to members 2023 2022
£ £
Loans from members 43,287 142,379
Amounts falling due within one year 43,287 142,379
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
E J Moyle LLP is a limited liability partnership incorporated in England. Its registered office is:
15 Beach Road
Littlehampton
West Sussex
BN17 5HZ
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