REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 SEPTEMBER 2022 TO 28 FEBRUARY 2023 |
FOR |
MAYHEW & STRUDWICK LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 SEPTEMBER 2022 TO 28 FEBRUARY 2023 |
FOR |
MAYHEW & STRUDWICK LLP |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 September 2022 to 28 February 2023 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MAYHEW & STRUDWICK LLP |
GENERAL INFORMATION |
For The Period 1 September 2022 to 28 February 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
ABRIDGED BALANCE SHEET |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Work-in-progress |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
906 |
24,454 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
5 |
896 |
24,444 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 10 | 10 |
906 | 24,454 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 896 | 24,444 |
Members' other interests | 10 | 10 |
Amounts due from members | - | (55,795 | ) |
906 | (31,341 | ) |
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. |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
ABRIDGED BALANCE SHEET - continued |
28 February 2023 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 September 2022 to 28 February 2023 |
1. | STATUTORY INFORMATION |
Mayhew & Strudwick LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements have been prepared on a going concern basis, which the members consider to be appropriate, as they have agreed to provide the necessary finance to enable the company to meet its liabilities as they fall due. |
Turnover |
Turnover represents sales of construction services, excluding value added tax, performed during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - | 20% reducing balance |
Motor vehicles | - | 20% reducing balance |
Office equipment | - | 20% reducing balance |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work-in-progress to their present location and condition. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
Hire purchase and leasing commitments |
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. Payments are apportioned between the finance charge and the capital amount and the related obligations, net of future finance charges, are included in creditors. |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 September 2022 to 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Members' participation rights |
Members' participation rights are the rights of the member against the LLP that arise under the members' agreement (for example, in respect of amount subscribed or otherwise contributed, remuneration and profits). |
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP. |
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classed as liabilities. |
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities in the Balance Sheet. |
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet. |
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same was as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. |
All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interest'. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2022 |
Disposals | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 31 August 2022 |
MAYHEW & STRUDWICK LLP (REGISTERED NUMBER: OC422760) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 September 2022 to 28 February 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 September 2022 | 59,346 |
Disposals | (59,346 | ) |
At 28 February 2023 | - |
DEPRECIATION |
At 1 September 2022 | 31,029 |
Charge for period | 2,699 |
Eliminated on disposal | (33,728 | ) |
At 28 February 2023 | - |
NET BOOK VALUE |
At 28 February 2023 | - |
At 31 August 2022 | 28,317 |
5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members would rank last in relation to other creditors. |