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REGISTERED NUMBER: OC356907 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

THATCHER AND HALLAM LLP

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

General Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


THATCHER AND HALLAM LLP

General Information
for the year ended 31 March 2024







DESIGNATED MEMBERS: W A Weller
G H H Persson
L A Ablett





REGISTERED OFFICE: Island House
The Island
Midsomer Norton
Radstock
Somerset
BA3 2HJ





REGISTERED NUMBER: OC356907 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Thatcher and Hallam LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Thatcher and Hallam LLP for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Thatcher and Hallam LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thatcher and Hallam LLP and state those matters that we have agreed to state to the members of Thatcher and Hallam LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thatcher and Hallam LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Thatcher and Hallam LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thatcher and Hallam LLP. You consider that Thatcher and Hallam LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thatcher and Hallam LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


31 July 2024

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 637,677 23,354
Tangible assets 5 117,660 94,370
755,337 117,724

CURRENT ASSETS
Debtors 6 735,397 1,305,293
Cash at bank and in hand 146,523 233,987
881,920 1,539,280
CREDITORS
Amounts falling due within one year 7 903,187 398,416
NET CURRENT (LIABILITIES)/ASSETS (21,267 ) 1,140,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

734,070

1,258,588

CREDITORS
Amounts falling due after more than one
year

8

(44,658

)

(30,077

)

PROVISIONS FOR LIABILITIES (10,000 ) (10,000 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

679,412

1,218,511

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

500,188

775,000

MEMBERS' OTHER INTERESTS
Other reserves 179,224 443,511
679,412 1,218,511

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 500,188 775,000
Members' other interests 179,224 443,511
Amounts due from members 6 (94,902 ) (653,419 )
584,510 565,092

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 2024.

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.

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 23 July 2024 and were signed by:





G H H Persson - Designated member

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Thatcher and Hallam 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 comprises revenue recognised by the LLP in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Revenue is recognised when services are rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Office Equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the entity. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

Members interests and drawings
Members capital is repayable and is therefore classified as a liability. Other than in exceptional cases and drawings, it is not paid until after retirement.

There shall be paid to each designated member such sum by way of regular drawings as the equity members may from time to time decide. The LLP reserves the right to charge interest on drawings in excess of a member's profit share for an accounting period.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 32 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 58,382
Additions 626,000
At 31 March 2024 684,382
AMORTISATION
At 1 April 2023 35,028
Charge for year 11,677
At 31 March 2024 46,705
NET BOOK VALUE
At 31 March 2024 637,677
At 31 March 2023 23,354

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 252,176 57,309 87,863 397,348
Additions 53,322 10,330 77,997 141,649
Disposals - - (142,240 ) (142,240 )
At 31 March 2024 305,498 67,639 23,620 396,757
DEPRECIATION
At 1 April 2023 194,358 39,082 69,538 302,978
Charge for year 27,785 3,570 7,081 38,436
Eliminated on disposal - - (62,317 ) (62,317 )
At 31 March 2024 222,143 42,652 14,302 279,097
NET BOOK VALUE
At 31 March 2024 83,355 24,987 9,318 117,660
At 31 March 2023 57,818 18,227 18,325 94,370

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 351,809 355,282
Amounts due from members 94,902 653,419
Other debtors 226,252 200,288
Prepayments 62,434 96,304
735,397 1,305,293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 107,542 165,685
Hire purchase contracts 1,250 3,000
Trade creditors 230 -
Taxation and social security 133,015 159,271
Other creditors 661,150 70,460
903,187 398,416

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 44,658 28,827
Hire purchase contracts - 1,250
44,658 30,077

THATCHER AND HALLAM LLP (REGISTERED NUMBER: OC356907)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

10. OTHER FINANCIAL COMMITMENTS

At the year end, the company was committed to making operating lease commitments totalling £7,127 (2023: £5,736).

11. CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.