Limited Liability Partnership registration number OC397312 (England and Wales)
ALLSTUNTS INC LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ALLSTUNTS INC LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mrs L Inch
Mr R Inch
Limited liability partnership number
OC397312
Registered office
Accountants
Charterhouse (Accountants) Limited
166 College Road
Harrow
Middlesex
HA1 1RA
ALLSTUNTS INC LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The following pages do not form part of the statutory financial statements
Detailed trading and profit and loss account
-
ALLSTUNTS INC LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
306,250
481,250
Tangible assets
5
63,331
83,339
369,581
564,589
Current assets
Debtors
16,554
-
Cash at bank and in hand
562,854
635,065
579,408
635,065
Creditors: amounts falling due within one year
6
(83,492)
(106,026)
Net current assets
495,916
529,039
Total assets less current liabilities
865,497
1,093,628
Creditors: amounts falling due after more than one year
7
(29,792)
(40,706)
Net assets attributable to members
835,705
1,052,922
Represented by:
Members' other interests
8
Members' capital classified as equity
835,705
1,052,922
835,705
1,052,922
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
ALLSTUNTS INC LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
2023
2022
Notes
£
£
£
£
- 2 -
The financial statements were approved by the members and authorised for issue on 29 January 2024 and are signed on their behalf by:
29 January 2024
Mrs L Inch
Designated member
Limited Liability Partnership Registration No. OC397312
ALLSTUNTS INC LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Limited liability partnership information
Allstunts Inc LLP is a limited liability partnership incorporated in England and Wales. The registered office is .
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for the provision of stuntman services net of VAT and trade discounts. Income is recognised in the period to which it relates.
1.3
Intangible fixed assets - goodwill
Goodwill is recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
20% on cost
Computer equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
1.5
Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ALLSTUNTS INC LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
1.6
Retirement benefits and post retirement payments to members
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2023
2022
Number
Number
Total
1
1
3
Information in relation to members
2023
2022
Number
Number
Average number of members during the year
3
3
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
1,750,000
Amortisation and impairment
At 1 April 2022
1,268,750
Amortisation charged for the year
175,000
At 31 March 2023
1,443,750
Carrying amount
At 31 March 2023
306,250
At 31 March 2022
481,250
ALLSTUNTS INC LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
306,992
Depreciation and impairment
At 1 April 2022
223,653
Depreciation charged in the year
20,008
At 31 March 2023
243,661
Carrying amount
At 31 March 2023
63,331
At 31 March 2022
83,339
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,684
6,412
Other taxation and social security
420
27,215
Other creditors
81,388
72,399
83,492
106,026
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
29,792
40,706
Included within creditors is £50,000 in respect of a bank loan which is guaranteed by the Government under the Bounce Back Loan Scheme.
ALLSTUNTS INC LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
8
Reconciliation of Members' Interests
EQUITY
TOTAL
Members' other interests
MEMBERS'
INTERESTS
Members' capital
Other reserves
Total
2023
£
£
£
Members' interests at 1 April 2022
1,052,922
-
1,052,922
Profit for the financial year available for discretionary division among members
-
106,027
106,027
Members' interests after profit for the year
1,052,922
106,027
1,158,949
Other divisions of profits
106,027
(106,027)
-
Introduced by members
1,106,613
-
1,106,613
Repayments of capital
(1,429,857)
-
(1,429,857)
Members' interests at 31 March 2023
835,705
-
835,705
9
Members' transactions
During the period Allstunts Inc Equipment Limited has charged a licence fee to the limited liability partnership of £7,709 (2022: £12,847) in respect of the use of the Knowhow and Goodwill of the limited company.
Included within other creditors is an amount due to Allstunts Inc Equipment Limited of £7,709 (2022: £12,847).