REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Frizzell & Partners Wealth |
Management LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Frizzell & Partners Wealth |
Management LLP |
Frizzell & Partners Wealth |
Management LLP (Registered number: OC386781) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Frizzell & Partners Wealth |
Management LLP |
General Information |
for the Year Ended 31 July 2023 |
DESIGNATED MEMBERS: |
Mrs H L Frizzell |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Central Office |
Cobweb Buildings |
The Lane, Lyford |
Nr Wantage |
Oxfordshire |
OX12 0EE |
Frizzell & Partners Wealth |
Management LLP (Registered number: OC386781) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5 |
( |
) |
( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
15,638 |
1,535,094 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
15,638 |
1,516,218 |
MEMBERS' OTHER INTERESTS |
Capital accounts | - | 18,876 |
15,638 | 1,535,094 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members |
6 |
15,638 |
1,516,218 |
Members' other interests | - | 18,876 |
Amounts due from members | 4 | - | (1,443,432 | ) |
15,638 | 91,662 |
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. |
Frizzell & Partners Wealth |
Management LLP (Registered number: OC386781) |
Balance Sheet - continued |
31 July 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. |
Approved and authorised by the members of the LLP and authorised for issue on |
Frizzell & Partners Wealth |
Management LLP (Registered number: OC386781) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Frizzell & Partners Wealth Management 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 |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
Frizzell & Partners Wealth |
Management LLP (Registered number: OC386781) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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. |