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REGISTERED NUMBER: OC337116 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR


THE PARIS PARTNERSHIP LLP


THE PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023











Page



General Information  

1



Statement of Financial Position  

2



Notes to the Financial Statements  

4



Accountants' Report  

7



THE PARIS PARTNERSHIP LLP


GENERAL INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2023









DESIGNATED MEMBERS:

L A R Paris


Paris Partnership Services Limited







REGISTERED OFFICE:

Russell House


140 High Street


Edgware


Middlesex


HA8 7LW







REGISTERED NUMBER:

OC337116 (England and Wales)







ACCOUNTANTS:

MGR Paris Limited


Chartered Accountants


Russell House


140 High Street


Edgware


HA8 7LW


THE PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


STATEMENT OF FINANCIAL POSITION

30 SEPTEMBER 2023



30.9.23


30.9.22


Notes

£   

£   


FIXED ASSETS

Tangible assets

4

18,883


25,177




CURRENT ASSETS

Debtors

5

386,780


443,059



Cash at bank

98,165


142,914



484,945


585,973



CREDITORS

Amounts falling due within one year

6

(491,086

)

(548,969

)


NET CURRENT (LIABILITIES)/ASSETS

(6,141

)

37,004



TOTAL ASSETS LESS CURRENT

LIABILITIES

12,742


62,181




CREDITORS

Amounts falling due after more than one

year

7

(12,742

)

(27,645

)


NET ASSETS ATTRIBUTABLE TO

MEMBERS

-


34,536




LOANS AND OTHER DEBTS DUE TO

MEMBERS

8

-


34,536




TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

-


34,536



Amounts due from members

5

(175,227

)

-



(175,227

)

34,536




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 30 September 2023.  


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 PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


STATEMENT OF FINANCIAL POSITION - continued

30 SEPTEMBER 2023



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 12 August 2024 and were signed by:






L A R Paris - Designated member


THE PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023



1.

STATUTORY INFORMATION



The Paris Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.


The presentation currency of the financial statements is the Pound Sterling (£).


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.    



Monetary amounts are rounded to the nearest pound.



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.  


Plant and machinery etc

-

25% on reducing balance



Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators or impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfer the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired int he ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

3.

EMPLOYEE INFORMATION



The average number of employees during the year was 1 (2022 - NIL ) .


THE PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2023



4.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 October 2022


and 30 September 2023

33,570




DEPRECIATION


At 1 October 2022

8,393




Charge for year

6,294




At 30 September 2023

14,687




NET BOOK VALUE


At 30 September 2023

18,883




At 30 September 2022

25,177




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



30.9.23


30.9.22

£   

£   



Trade debtors

105,833


318,529




Amounts recoverable on contract

85,000


110,000




Other debtors

195,947


14,530



386,780


443,059




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



30.9.23


30.9.22

£   

£   



Bank loans and overdrafts

10,000


10,000




Trade creditors

22,191


381,510




Taxation and social security

30,947


-




Other creditors

427,948


157,459



491,086


548,969




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



30.9.23


30.9.22

£   

£   



Bank loans

12,742


27,645




THE PARIS PARTNERSHIP LLP (REGISTERED NUMBER: OC337116)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2023



8.

LOANS AND OTHER DEBTS DUE TO MEMBERS



30.9.23


30.9.22

£   

£   



Amounts owed to members in respect of profits

-


34,536





Falling due within one year

-


34,536





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


There is no provision for specific legally enforceable protection afforded to creditors in such an event.


There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members, other interests'.


ACCOUNTANTS' REPORT TO THE MEMBERS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

THE PARIS PARTNERSHIP 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 Statement of Financial Position. 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 The Paris Partnership LLP for the year ended 30 September 2023 which comprise the Income Statement, Statement of Financial Position, 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 The Paris Partnership 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 The Paris Partnership LLP and state those matters that we have agreed to state to the members of The Paris Partnership 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 The Paris Partnership LLP and its members, as a body, for our work or for this report.      


It is your duty to ensure that The Paris Partnership 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 The Paris Partnership LLP. You consider that The Paris Partnership 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 The Paris Partnership 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.  







MGR Paris Limited

Chartered Accountants

Russell House

140 High Street

Edgware

HA8 7LW



12 August 2024