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Registration number: OC355303

Encompass Logistics Solutions LLP

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Encompass Logistics Solutions LLP

Contents

Abridged Financial Statements

1 to 4

Abridged Balance Sheet

1

Notes to the Abridged Financial Statements

3

 

Encompass Logistics Solutions LLP

(Registration number: OC355303)
Abridged Balance Sheet as at 30 June 2023

Note

2023
 

2022
 

   

£

£

£

£

Fixed assets

   

 

Investment property

 

750,000

 

750,000

Current assets

   

 

Cash and short-term deposits

 

78,846

 

33,866

 

Creditors: Amounts falling due within one year

(15,000)

 

(15,000)

 

Net current assets

   

63,846

 

18,866

Net assets attributable to members

   

813,846

 

768,866

Represented by:

   

 

Loans and other debts due to members

   

 

Members' capital classified as a liability

 

575,376

 

530,396

 

Members’ other interests

   

 

Revaluation reserve

 

238,470

 

238,470

 
     

813,846

 

768,866

Total members' interests

   

 

Loans and other debts due to members

 

575,376

 

530,396

 

Equity

 

238,470

 

238,470

 
     

813,846

 

768,866

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’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

 

Encompass Logistics Solutions LLP

(Registration number: OC355303)
Abridged Balance Sheet as at 30 June 2023

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 Encompass Logistics Solutions LLP (registered number OC355303) were approved by the Board and authorised for issue on 29 February 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Ms L P Britchford
Designated member

.........................................
Mr I Bottomore
Designated member

 

Encompass Logistics Solutions LLP

Notes to the Abridged 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 abridged 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 abridged 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 Encompass Logistics Solutions 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.

Revenue recognition

The turnover shown in the profit and loss account represents rents receivable from the investment property.

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.

 

Encompass Logistics Solutions LLP

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

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 3 (2022 - 2).

3

Investment Property

2023
 £

At 30 June

750,000

The members have determined the value of the investment property held based on the current market conditions and rental income.

There has been no valuation of investment property by an independent valuer.

4

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.