13 false false false false false false false false false false false false false true false true true No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NC001628 2023-05-01 2024-03-31 NC001628 2024-03-31 NC001628 2023-04-30 NC001628 2022-05-01 2023-04-30 NC001628 2023-04-30 NC001628 2022-04-30 NC001628 core:FurnitureFittings 2023-05-01 2024-03-31 NC001628 core:MotorVehicles 2023-05-01 2024-03-31 NC001628 bus:Director1 2023-05-01 2024-03-31 NC001628 bus:Director2 2023-05-01 2024-03-31 NC001628 core:WithinOneYear 2024-03-31 NC001628 core:WithinOneYear 2023-04-30 NC001628 bus:SmallEntities 2023-05-01 2024-03-31 NC001628 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-03-31 NC001628 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-03-31 NC001628 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 NC001628 bus:AbridgedAccounts 2023-05-01 2024-03-31
REGISTERED NUMBER: NC001628
HUNTER SINTON LLP
Filleted Unaudited Abridged Financial Statements
31 March 2024
HUNTER SINTON LLP
Abridged Statement of Financial Position
31 March 2024
31 Mar 24
30 Apr 23
Note
£
£
Fixed assets
Tangible assets
5
47,876
64,980
Current assets
Stocks
27,500
27,500
Debtors
272,905
231,943
Cash at bank and in hand
27,823
21,131
---------
---------
328,228
280,574
Creditors: amounts falling due within one year
219,054
197,406
---------
---------
Net current assets
109,174
83,168
---------
---------
Total assets less current liabilities
157,050
148,148
---------
---------
Net assets
157,050
148,148
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
6
157,050
148,148
---------
---------
Members' other interests
Other reserves
---------
---------
157,050
148,148
---------
---------
Total members' interests
Loans and other debts due to members
6
157,050
148,148
Members' other interests
---------
---------
157,050
148,148
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 2024 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of abridged financial statements .
HUNTER SINTON LLP
Abridged Statement of Financial Position (continued)
31 March 2024
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
These abridged financial statements were approved by the members and authorised for issue on 8 August 2024 , and are signed on their behalf by:
Mr M Morrow
Mr R Forsythe
Designated Member
Member
Registered number: NC001628
HUNTER SINTON LLP
Notes to the Abridged Financial Statements
Period from 1 May 2023 to 31 March 2024
1.
General information
The LLP is registered in N Ireland. The address of the registered office is 50 Commercial Road, Banbridge.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the abridged statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the abridged statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the abridged statement of comprehensive income and are equity appropriations in the abridged statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the abridged statement of financial position within 'Loans and other debts due to members' and are charged to the abridged statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the abridged statement of financial position within 'Members' other interests'.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
4.
Employee numbers
The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 13 (2023: 14 ).
5.
Tangible assets
£
Cost
At 1 May 2023 and 31 March 2024
311,564
---------
Depreciation
At 1 May 2023
246,584
Charge for the period
17,104
---------
At 31 March 2024
263,688
---------
Carrying amount
At 31 March 2024
47,876
---------
At 30 April 2023
64,980
---------
6.
Loans and other debts due to members
31 Mar 24
30 Apr 23
£
£
Amounts owed to members in respect of profits
157,050
148,148
---------
---------