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REGISTERED NUMBER: OC423529 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

EARLSGATE MLG LLP

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


EARLSGATE MLG LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DESIGNATED MEMBERS: Mrs K L Flowers
Mr G J Flowers





REGISTERED OFFICE: 5 The Quadrant
Coventry
United Kingdom
CV1 2EL





REGISTERED NUMBER: OC423529 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 JULY 2023


The members present their report with the financial statements of the LLP for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of general consultancy advice, HR and insolvency support for the leisure industry.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mrs K L Flowers
Mr G J Flowers

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £159 (2022 - £20,442 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mr G J Flowers - Designated member


8 April 2024

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £   

TURNOVER 135,845 122,826

Cost of sales 1,473 1,584
GROSS PROFIT 134,372 121,242

Administrative expenses 121,931 96,937
12,441 24,305

Other operating income - 1,170
OPERATING PROFIT 4 12,441 25,475


Interest payable and similar expenses 12,282 5,033
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




159




20,442

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 42,500 49,583
Tangible assets 6 23,568 29,115
66,068 78,698

CURRENT ASSETS
Debtors 7 89,855 30,335
Cash at bank and in hand 29,527 18,110
119,382 48,445
CREDITORS
Amounts falling due within one year 8 88,472 67,274
NET CURRENT ASSETS/(LIABILITIES) 30,910 (18,829 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,978

59,869

CREDITORS
Amounts falling due after more than one
year

9

65,833

28,333
NET ASSETS ATTRIBUTABLE TO
MEMBERS

31,145

31,536

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

31,145

31,536

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 31,145 31,536
Amounts due from members 7 (52,594 ) (17,575 )
(21,449 ) 13,961

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 July 2023.

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.

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 8 April 2024 and were signed by:





Mr G J Flowers - Designated member

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Earlsgate Mlg 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% reducing balance
Computer equipment - 25% Straight line

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 NIL (2022 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 7,809 9,532
Goodwill amortisation 7,083 7,083

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 70,833
AMORTISATION
At 1 August 2022 21,250
Amortisation for year 7,083
At 31 July 2023 28,333
NET BOOK VALUE
At 31 July 2023 42,500
At 31 July 2022 49,583

6. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 49,700 3,252 52,952
Additions - 2,262 2,262
At 31 July 2023 49,700 5,514 55,214
DEPRECIATION
At 1 August 2022 22,920 917 23,837
Charge for year 6,695 1,114 7,809
At 31 July 2023 29,615 2,031 31,646
NET BOOK VALUE
At 31 July 2023 20,085 3,483 23,568
At 31 July 2022 26,780 2,335 29,115

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,836 9,085
Amounts owed by group undertakings 2,425 3,675
Other debtors 52,594 17,575
89,855 30,335

EARLSGATE MLG LLP (REGISTERED NUMBER: OC423529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,736 6,294
Amounts owed to group undertakings 40,125 34,034
Taxation and social security 7,471 5,507
Other creditors 25,140 11,439
88,472 67,274

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,333 28,333
Other creditors 47,500 -
65,833 28,333

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.