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REGISTERED NUMBER: OC343759 (England and Wales)












OGLETHORPE STURTON & GILLIBRAND LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






OGLETHORPE STURTON & GILLIBRAND LLP (REGISTERED NUMBER: OC343759)

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










Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


OGLETHORPE STURTON & GILLIBRAND LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







Designated members: Mrs A M Rogers
Ms E J Briggs
Mr D E Park
Mrs C L Love
Mrs J M Grabowski
Mr J L Myers
Mr A H Sumner
Mr D Barnes


Registered office: 16 Castle Park
LANCASTER
LA1 1YG


Registered number: OC343759 (England and Wales)


Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD


Bankers: HSBC Bank Plc
35 Market Street
LANCASTER
LA1 1JQ

OGLETHORPE STURTON & GILLIBRAND LLP (REGISTERED NUMBER: OC343759)

ABRIDGED BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 349,681 301,640

Current assets
Debtors 1,328,509 1,517,555
Prepayments and accrued income 98,291 81,360
Cash at bank and in hand 112,447 318,378
1,539,247 1,917,293
Creditors
Amounts falling due within one year 337,090 272,866
Net current assets 1,202,157 1,644,427
Total assets less current liabilities 1,551,838 1,946,067

Creditors
Amounts falling due after more than one
year

5

(339,563

)

(223,244

)

Accruals and deferred income (52,884 ) (18,851 )
Net assets attributable to members 1,159,391 1,703,972

Loans and other debts due to members 8 1,159,391 1,703,972

Total members' interests
Loans and other debts due to members 8 1,159,391 1,703,972
Amounts due from members (4,875 ) -
1,154,516 1,703,972

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 May 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.

OGLETHORPE STURTON & GILLIBRAND LLP (REGISTERED NUMBER: OC343759)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 14 December 2023 and were signed by:





Mrs J M Grabowski - Designated member

OGLETHORPE STURTON & GILLIBRAND LLP (REGISTERED NUMBER: OC343759)

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


1. Statutory information

Oglethorpe Sturton & Gillibrand 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% Straight line
Plant and machinery etc - 25% on cost, 15% Reducing balance and 2% 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 58 (2022 - 56 ) .

4. Tangible fixed assets
Totals
£   
Cost
At 1 June 2022 534,919
Additions 99,645
At 31 May 2023 634,564
Depreciation
At 1 June 2022 233,279
Charge for year 51,604
At 31 May 2023 284,883
Net book value
At 31 May 2023 349,681
At 31 May 2022 301,640

OGLETHORPE STURTON & GILLIBRAND LLP (REGISTERED NUMBER: OC343759)

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


5. Creditors: amounts falling due after more than five years
2023 2022
£    £   
Repayable by instalments
Payments to former member 86,080 58,570

6. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 67,960 44,088
Between one and five years 221,633 -
289,593 44,088

7. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 178,694 86,481

Fixed charge over the freehold property known as 17, Main Street, Kirkby Lonsdale, Carnforth LA6 2AQ
HSBC have a fixed and floating charge over the undertaking and all property and assets present and future.

8. Loans and other debts due to members
2023 2022
£    £   
Loans from members 882,084 954,572
Amounts owed to members in respect of profits 277,307 749,400
1,159,391 1,703,972

Falling due within one year 1,159,391 1,703,972

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

9. Related party disclosures

During the year the LLP paid rent on a normal commercial basis to SIPP's, owned by some designated members of the LLP, in the sum of £55,000 (2022 - £55,000).