Registered number
OC323405
Paradigm Partners (Wilmslow) LLP
Unaudited Filleted Accounts
30 April 2023
Paradigm Partners (Wilmslow) LLP
Registered number: OC323405
Balance Sheet
As at 30 April 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 30,819 30,819
Creditors: amounts falling due within one year 4 (3,053) (2,810)
Net assets attributable to members 27,766 28,009
Represented by:
Loans and other debts due to members 5 27,766 28,009
27,766 28,009
Total members' interests
Loans and other debts due to members 5 27,766 28,009
27,766 28,009
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 28 November 2023 and signed on their behalf by:
P H Hogarth
Designated member
Paradigm Partners (Wilmslow) 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term 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 costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP - -
3 Debtors 2023 2022
£ £
Other debtors 30,819 30,819
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 3,053 2,810
5 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt (611,240) (611,240)
Amounts due to members in respect of profits 639,006 639,249
27,766 28,009
Amounts falling due within one year 27,766 28,009
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Related party transactions
The LLP is owed £30,819 (2022 - £30,819) by Hermitage Holdings 2018 Ltd, a company under common control. This loan is interest-free, repayable on demand and included in other debtors in these accounts.
The LLP owes £3,053 (2022 - £2,810) to Hermitage Holdings (Wilmslow) Ltd, a company under common control. This loan is interest-free, repayable on demand and included in other creditors in these accounts.
7 Controlling party
The LLP is controlled by its members, P H Hogarth and J A Hogarth.
8 Other information
Paradigm Partners (Wilmslow) LLP is a limited liability partnership incorporated in England. Its registered office is:
Paradigm House
Brooke Court
Lower Meadow Road
Wilmslow
SK9 3ND
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