REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
JERMAN, SAMUELS & PEARSON LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
JERMAN, SAMUELS & PEARSON LLP |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JERMAN, SAMUELS & PEARSON LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Turnpike House |
1208/1210 London Road |
Leigh on Sea |
Essex |
SS9 2UA |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
BALANCE SHEET |
31 MAY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
333,139 |
241,137 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
333,139 |
241,137 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 333,139 | 241,137 |
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. |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
BALANCE SHEET - continued |
31 MAY 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 |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
JERMAN, SAMUELS & PEARSON 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 |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
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 stocks to their present location and condition. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 June 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Loans |
Hire purchase contracts (see note 8) |
Social security and other taxes |
VAT |
Other creditors |
Client indebtedness | 76,205 | 60,465 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 8) |
JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Hire purchase contracts | 122,539 | 72,090 |
The bank overdraft is personally guaranteed by the members, whilst the hire purchase contracts are secured against the items to which they relate. |