Limited Liability Partnership registration number SO302257 (Scotland)
THE PROFILI PARTNERSHIP LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
THE PROFILI PARTNERSHIP LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
THE PROFILI PARTNERSHIP LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,608
7,818
Current assets
Debtors
4
998
7,257
Cash at bank and in hand
4,018
1,048
5,016
8,305
Creditors: amounts falling due within one year
5
(2,340)
(1,800)
Net current assets
2,676
6,505
Total assets less current liabilities and net assets attributable to members
9,284
14,323
Represented by:
Members' other interests
Members' capital classified as equity
9,284
14,323
9,284
14,323
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 27 November 2023 and are signed on their behalf by:
27 November 2023
Mrs P Profili
Designated member
Limited Liability Partnership Registration No. SO302257
THE PROFILI PARTNERSHIP LLP
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
1
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.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2023
2022
Number
Number
Total
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
-
43,925
43,925
Additions
765
-
765
At 31 March 2023
765
43,925
44,690
Depreciation and impairment
At 1 April 2022
-
36,107
36,107
Depreciation charged in the year
21
1,954
1,975
At 31 March 2023
21
38,061
38,082
Carrying amount
At 31 March 2023
744
5,864
6,608
At 31 March 2022
-
7,818
7,818
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
6,194
Prepayments and accrued income
998
1,063
998
7,257
THE PROFILI PARTNERSHIP LLP
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
2,340
1,800