Hallgarth LLP OC365378 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of a dormant company Digita Accounts Production Advanced 6.30.9574.0 OC365378 2022-07-01 2023-06-30 OC365378 2023-06-30 OC365378 bus:SmallEntities 2022-07-01 2023-06-30 OC365378 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 OC365378 bus:FullAccounts 2022-07-01 2023-06-30 OC365378 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 OC365378 bus:RegisteredOffice 2022-07-01 2023-06-30 OC365378 bus:PartnerLLP1 2022-07-01 2023-06-30 OC365378 bus:PartnerLLP2 2022-07-01 2023-06-30 OC365378 bus:LimitedLiabilityPartnershipLLP 2022-07-01 2023-06-30 OC365378 countries:AllCountries 2022-07-01 2023-06-30 OC365378 2021-07-01 2022-06-30 OC365378 2022-06-30 iso4217:GBP xbrli:pure

Registration number: OC365378

Hallgarth LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Hallgarth LLP

Contents

Limited liability partnership information

1

Members' Report

2

Financial Statements

3 to 6

Balance Sheet

3

Notes to the Financial Statements

4

 

Hallgarth LLP

Limited liability partnership information

Designated members

Mr PM Gacquin

Mrs CL Gacquin
 

Registered office

1200 Century Way
Thorpe Park
Leeds
LS15 8ZA

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Hallgarth LLP

Members' Report for the Year Ended 30 June 2023

The members present their report and the unaudited financial statements for the year ended 30 June 2023.

Firm structure

The LLP is a limited liability partnership registered in England and Wales. A list of designated members’ names is available for inspection at the LLP’s registered office.

Principal activity

The principal activity of the limited liability partnership is that of a dormant company

Designated members

The members who held office during the year were as follows:

Mr PM Gacquin

Mrs CL Gacquin

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.

Approved by the Board on 13 February 2024 and signed on its behalf by:

.........................................
Mr PM Gacquin
Designated member

 

Hallgarth LLP

(Registration number: OC365378)
Balance Sheet as at 30 June 2023

2023
 £

2022
 £

Net assets/(liabilities) attributable to members

-

-

Represented by:

 

-

-

 

-

-

For the year ending 30 June 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Hallgarth LLP (registered number OC365378) were approved by the Board and authorised for issue on 13 February 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr PM Gacquin
Designated member

 

Hallgarth LLP

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Hallgarth LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Hallgarth LLP

Notes to the Financial Statements for the Year Ended 30 June 2023 (continued)

1

Accounting policies (continued)

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

 

Hallgarth LLP

Notes to the Financial Statements for the Year Ended 30 June 2023 (continued)

1

Accounting policies (continued)

Recognition and Measurement

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 2 (2022 - 2).