REGISTERED NUMBER: |
LMB ADVISOR SERVICES LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
LMB ADVISOR SERVICES LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Profit and Loss Account | 4 |
Balance Sheet | 5 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 8 |
LMB ADVISOR SERVICES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Gibson House |
Hurricane Court |
Hurricane Close |
Stafford |
ST16 1GZ |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of medical services. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £52,080 (2023 - £52,702 profit). |
MEMBERS' INTERESTS |
Members restrict their drawings to amounts agreed in each year. |
ON BEHALF OF THE MEMBERS: |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LMB ADVISOR SERVICES LLP |
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 Lmb Advisor Services LLP for the year ended 31 March 2024 which comprise the Profit and Loss Account, 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 Lmb Advisor Services 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 Lmb Advisor Services LLP and state those matters that we have agreed to state to the members of Lmb Advisor Services 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 Lmb Advisor Services LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Lmb Advisor Services 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 Lmb Advisor Services LLP. You consider that Lmb Advisor Services 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 Lmb Advisor Services 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. |
Chartered Accountants |
Gibson House |
Hurricane Court |
Hurricane Close |
Stafford |
ST16 1GZ |
Date: ............................................. |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET LIABILITIES ATTRIBUTABLE TO MEMBERS |
- |
- |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
- |
- |
TOTAL MEMBERS' INTERESTS |
Amounts due from members | (1,920 | ) | (1,824 | ) |
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 were approved by the members of the LLP and authorised for issue on |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | - |
Amount due from members | (1,824 | ) |
Balance at 1 April 2023 | - | (1,824 | ) | (1,824 | ) |
Profit for the financial year available for discretionary division among members |
52,080 |
- |
52,080 |
Members' interests after profit for the year |
52,080 |
(1,824 |
) |
50,256 |
Other divisions of profit | (52,080 | ) | 52,080 | - |
Drawings on account and distributions of profit |
- |
(52,176 |
) |
(52,176 |
) |
Amount due to members | - |
Amount due from members | (1,920 | ) |
Balance at 31 March 2024 | - | (1,920 | ) | (1,920 | ) |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | - |
Amount due from members | (1,740 | ) |
Balance at 1 April 2022 | - | (1,740 | ) | (1,740 | ) |
Profit for the financial year available for discretionary division among members |
52,702 |
- |
52,702 |
Members' interests after profit for the year |
52,702 |
(1,740 |
) |
50,962 |
Other divisions of profit | (52,702 | ) | 52,702 | - |
Drawings on account and distributions of profit |
- |
(52,786 |
) |
(52,786 |
) |
Amount due to members | - |
Amount due from members | (1,824 | ) |
Balance at 31 March 2023 | - | (1,824 | ) | (1,824 | ) |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Lmb Advisor Services 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Rendering of services |
When the outcome of a transaction can be estimated reliably, turnover from the provision of medical services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to chargeable hours undertaken. |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INFORMATION IN RELATION TO MEMBERS |
2024 | 2023 |
The average number of members during the year was | 2 | 2 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
LMB ADVISOR SERVICES LLP (REGISTERED NUMBER: OC423658) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
There are no such restrictions or limitations existing on the ability of the members to reduce the amount of 'Members' other interests'. |