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REGISTERED NUMBER: OC355809 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MORGAN DE VERE WILLS & TRUSTS LLP

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


MORGAN DE VERE WILLS & TRUSTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: S A Morgan
T M Pugh





REGISTERED OFFICE: The Granary
High Street
Turvey
Bedfordshire
MK43 8DB





REGISTERED NUMBER: OC355809 (England and Wales)





ACCOUNTANTS: Cox & Co. (Accountancy) Limited
Chartered Accountants
The Granary
High Street
Turvey
Bedford
Bedfordshire
MK43 8DB

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

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 financial advisors

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

S A Morgan
T M Pugh

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £9,938 (2023 - £8,722 profit).

MEMBERS' INTERESTS
Any assets introduced to the LLP or any profits attributable to the member will be credited to the capital account of the member. Drawings and capital repayment will be paid to the members on a basis agreed by the members from time to time.

ON BEHALF OF THE MEMBERS:





T M Pugh - Designated member


2 August 2024

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 87,931 38,921

Cost of sales (24,499 ) (19,288 )
GROSS PROFIT 63,432 19,633

Administrative expenses (51,550 ) (10,824 )
OPERATING PROFIT 4 11,882 8,809


Interest payable and similar expenses (1,944 ) (87 )
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




9,938




8,722

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 177,734 62,630

CURRENT ASSETS
Debtors 6 19,184 8,719
Cash at bank 3,694 15,112
22,878 23,831
CREDITORS
Amounts falling due within one year 7 26,934 24,688
NET CURRENT LIABILITIES (4,056 ) (857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,678

61,773

CREDITORS
Amounts falling due after more than one
year

8

122,337

46,529
NET ASSETS ATTRIBUTABLE TO
MEMBERS

51,341

15,244

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

51,341

15,116

MEMBERS' OTHER INTERESTS
Capital accounts - 128
51,341 15,244

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 51,341 15,116
Members' other interests - 128
Amounts due from members 6 (9,031 ) -
42,310 15,244

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.

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

BALANCE SHEET - continued
31 MARCH 2024


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 2 August 2024 and were signed by:





T M Pugh - Designated member

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Morgan de Vere Wills & Trusts 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 1 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Formation costs 120 -

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 62,630
Additions 130,762
At 31 March 2024 193,392
DEPRECIATION
Charge for year 15,658
At 31 March 2024 15,658
NET BOOK VALUE
At 31 March 2024 177,734
At 31 March 2023 62,630

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 62,630
Additions 130,762
At 31 March 2024 193,392
DEPRECIATION
Charge for year 15,658
At 31 March 2024 15,658
NET BOOK VALUE
At 31 March 2024 177,734
At 31 March 2023 62,630

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 19,184 8,719

MORGAN DE VERE WILLS & TRUSTS LLP (REGISTERED NUMBER: OC355809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 833 833
Hire purchase contracts 23,358 9,455
Other creditors 2,743 14,400
26,934 24,688

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,575 2,409
Hire purchase contracts 120,762 44,120
122,337 46,529

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 51,341 15,116

Falling due within one year 51,341 15,116

Loans and other debts due to members' (other than members' capital classified as debt) ranks equal with other creditors.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the LLP was owed £5,975 by Morgan De Vere & Partners LLP (2023: £3,100). This has been included in other debtors.