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REGISTERED NUMBER: OC355811















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MORGAN DE VERE & PARTNERS LLP

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)






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 & PARTNERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: S C Morgan
J A Wiggett





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





REGISTERED NUMBER: OC355811





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

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

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 advisory services

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

Morgan Feger Limited
S A Morgan
S C Morgan
J A Wiggett

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £120,853 (2023 - £108,103 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:





S C Morgan - Designated member


2 August 2024

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 386,964 432,575

Cost of sales (46,164 ) (61,776 )
GROSS PROFIT 340,800 370,799

Administrative expenses (207,839 ) (254,177 )
132,961 116,622

Other operating income - 3,230
OPERATING PROFIT 4 132,961 119,852

Interest receivable and similar income 19 10
132,980 119,862

Interest payable and similar expenses (12,127 ) (11,759 )
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




120,853




108,103

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 94,718 126,290
Investments 7 204,000 204,000
298,718 330,290

CURRENT ASSETS
Debtors 8 10,073 75,990
Cash at bank and in hand 414,303 19,376
424,376 95,366
CREDITORS
Amounts falling due within one year 9 108,718 106,438
NET CURRENT ASSETS/(LIABILITIES) 315,658 (11,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,376

319,218

CREDITORS
Amounts falling due after more than one
year

10

614,376

153,968
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

165,250

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

BALANCE SHEET - continued
31 MARCH 2024

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

12

-

6,000

MEMBERS' OTHER INTERESTS
Capital accounts - 159,250
- 165,250

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 12 - 6,000
Members' other interests - 159,250
Amounts due from members 8 (10,073 ) (66,838 )
(10,073 ) 98,412

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 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:





S C Morgan - Designated member

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

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

1. STATUTORY INFORMATION

Morgan de Vere & Partners LLP is registered in Not specified/Other. 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.

Goodwill
Goodwill has been fully written down to £nil value.

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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 2,347 6,972

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

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

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,051,781
AMORTISATION
At 1 April 2023
and 31 March 2024 1,051,781
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 309,448
DEPRECIATION
At 1 April 2023 183,158
Charge for year 31,572
At 31 March 2024 214,730
NET BOOK VALUE
At 31 March 2024 94,718
At 31 March 2023 126,290

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
and 31 March 2024 238,611
DEPRECIATION
At 1 April 2023 121,710
Charge for year 29,225
At 31 March 2024 150,935
NET BOOK VALUE
At 31 March 2024 87,676
At 31 March 2023 116,901

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

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

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 204,000
NET BOOK VALUE
At 31 March 2024 204,000
At 31 March 2023 204,000

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,073 75,990

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 34,291 34,291
Trade creditors 20,719 27,570
Taxation and social security - 131
Other creditors 48,152 38,890
108,718 106,438

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,705 34,006
Hire purchase contracts 85,671 119,962
Other creditors 500,000 -
614,376 153,968

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,482 11,783
Other loans more 5yrs instal 500,000 -
506,482 11,783

MORGAN DE VERE & PARTNERS LLP (REGISTERED NUMBER: OC355811)

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

11. SECURED DEBTS

There are three separate debentures, dated 20 November 2011, 8 December 2011 and 21 January 2013, held in favour of Openwork Services Limited, by way of a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery, and all income streams and present and future book debts due to the LLP.

12. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits - 6,000

Falling due within one year - 6,000

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