Limited Liability Partnership registration number OC392825 (England and Wales)
MARKETING ESTATES CONSULTANTS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
MARKETING ESTATES CONSULTANTS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MARKETING ESTATES CONSULTANTS LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,143
29,632
Current assets
Debtors
4
43,439
120,310
Cash at bank and in hand
-
210
43,439
120,520
Creditors: amounts falling due within one year
5
(29,275)
(90,035)
Net current assets
14,164
30,485
Total assets less current liabilities
23,307
60,117
Creditors: amounts falling due after more than one year
6
(23,307)
(60,117)
Net assets attributable to members
-
-
Represented by:
Total members' interests
Amounts due from members
(43,271)
(32,921)

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.

The financial statements were approved by the members and authorised for issue on 10 April 2024 and are signed on their behalf by:
10 April 2024
Mr L M Albonico
Designated member
Limited Liability Partnership Registration No. OC392825
MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Limited liability partnership information

Marketing Estates Consultants LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3a Chestnut House, Farm Close, Shenley, Hertfordshire, United Kingdom, WD7 9AD.

 

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Motor vehicles
25% on reducing balance

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.

1.4
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
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
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
181,866
Disposals
(73,500)
At 31 March 2023
108,366
Depreciation and impairment
At 1 April 2022
152,234
Depreciation charged in the year
3,047
Eliminated in respect of disposals
(56,058)
At 31 March 2023
99,223
Carrying amount
At 31 March 2023
9,143
At 31 March 2022
29,632
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by members
43,271
32,921
Other debtors
168
87,389
43,439
120,310
MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,830
11,016
Trade creditors
12,348
6,143
Taxation and social security
341
419
Other creditors
5,756
72,457
29,275
90,035
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,307
32,370
Other creditors
-
27,747
23,307
60,117

A number of the entity's motor vehicles are secured on the hire purchase agreements to which they relate.

7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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