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REGISTERED NUMBER: OC341462 (England and Wales)











Report of the Members and

Financial Statements

for the Year Ended 31st December 2023

for

SHORESTONE FINANCIAL LLP

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

General Information 1

Report of the Members 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 6


SHORESTONE FINANCIAL LLP

General Information
for the year ended 31st December 2023







DESIGNATED MEMBERS: S L Evans
Mrs A Gallizzi





REGISTERED OFFICE: Nionisle House
Station Road
Betchworth
Surrey
RH3 7BZ





REGISTERED NUMBER: OC341462 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Report of the Members
for the year ended 31st December 2023

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

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the provision of financial advice.

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

S L Evans
Mrs A Gallizzi

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £409,949 (2022 - £416,267 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





S L Evans - Designated member


4th March 2024

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Profit and Loss Account
for the year ended 31st December 2023

2023 2022
Notes £    £   

TURNOVER 542,862 547,007

Administrative expenses 131,299 129,429
OPERATING PROFIT 4 411,563 417,578

Interest receivable and similar income 127 18
411,690 417,596

Interest payable and similar expenses 1,741 1,329
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




409,949




416,267

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 38,472 33,874

CURRENT ASSETS
Debtors 6 37,763 27,012
Cash at bank and in hand 33,376 31,088
71,139 58,100
CREDITORS
Amounts falling due within one year 7 17,904 16,795
NET CURRENT ASSETS 53,235 41,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,707

75,179

CREDITORS
Amounts falling due after more than one year 8 26,429 20,994
NET ASSETS ATTRIBUTABLE TO
MEMBERS

65,278

54,185

LOANS AND OTHER DEBTS DUE TO
MEMBERS

65,278

54,185

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 65,278 54,185

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 31st December 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.

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Balance Sheet - continued
31st December 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 4th March 2024 and were signed by:




S L Evans - Designated member




Mrs A Gallizzi - Designated member


SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Shorestone Financial 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 each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 4,650 8,516

SHORESTONE FINANCIAL LLP (REGISTERED NUMBER: OC341462)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023 650 40,990 10,802 52,442
Additions - 42,040 - 42,040
Disposals - (40,990 ) - (40,990 )
At 31st December 2023 650 42,040 10,802 53,492
DEPRECIATION
At 1st January 2023 130 8,198 10,240 18,568
Charge for year 130 4,379 141 4,650
Eliminated on disposal - (8,198 ) - (8,198 )
At 31st December 2023 260 4,379 10,381 15,020
NET BOOK VALUE
At 31st December 2023 390 37,661 421 38,472
At 31st December 2022 520 32,792 562 33,874

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,616 12,836
Other debtors - 8,812
Prepayments 3,147 5,364
37,763 27,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,208 3,499
Trade creditors 4,702 9,091
Social security and other taxes 299 -
Other creditors 3,295 1,805
Accrued expenses 2,400 2,400
17,904 16,795

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 26,429 20,994