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REGISTERED NUMBER: OC329960 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Prestons and Jacksons Partnership LLP

Prestons and Jacksons Partnership LLP (Registered number: OC329960)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prestons and Jacksons Partnership LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Anver Patel
A Mehta





REGISTERED OFFICE: 364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: OC329960 (England and Wales)






Prestons and Jacksons Partnership LLP (Registered number: OC329960)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 102,500 102,500

CURRENT ASSETS
Debtors 5 9,917 44,618
Cash at bank 20,348 13,905
30,265 58,523
CREDITORS
Amounts falling due within one year 6 58,235 86,877
NET CURRENT LIABILITIES (27,970 ) (28,354 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,530

74,146

CREDITORS
Amounts falling due after more than one
year

7

13,000

19,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

61,530

55,146

LOANS AND OTHER DEBTS DUE
TO MEMBERS

8

61,530

55,146

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 61,530 55,146

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 March 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.

Prestons and Jacksons Partnership LLP (Registered number: OC329960)

Balance Sheet - continued
31 March 2023


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

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 16 February 2024 and were signed by:





Anver Patel - Designated member

Prestons and Jacksons Partnership LLP (Registered number: OC329960)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Prestons and Jacksons Partnership 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.

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 2 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
Current Investment 102,500 102,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 9,917 19,358
Other debtors - 25,260
9,917 44,618

Prestons and Jacksons Partnership LLP (Registered number: OC329960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 7,873 38,583
Taxation and social security 3,622 4,794
Other creditors 40,740 37,500
58,235 86,877

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 13,000 19,000

8. 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.