Registered number
OC401544
M Greville & Co LLP
Filleted Accounts
31 March 2024
M Greville & Co LLP
Registered number: OC401544
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 767 508
Current assets
Debtors 4 7,779 7,359
Cash at bank and in hand 28,441 79,381
36,220 86,740
Creditors: amounts falling due within one year 5 (1,100) (5,962)
Net current assets 35,120 80,778
Total assets less current liabilities 35,887 81,286
Net assets attributable to members 35,887 81,286
Represented by:
Loans and other debts due to members 6 35,887 81,286
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 16 August 2024 and signed on their behalf by:
Michael Greville
Designated member
M Greville & Co LLP
Notes to the Accounts
for the period from 1 June 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 1,348
Additions 515
At 31 March 2024 1,863
Depreciation
At 1 June 2023 840
Charge for the period 256
At 31 March 2024 1,096
Net book value
At 31 March 2024 767
At 31 May 2023 508
4 Debtors 2024 2023
£ £
Trade debtors 7,200 7,359
Other debtors 579 -
7,779 7,359
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other taxes and social security costs - 4,862
Other creditors 1,100 1,100
1,100 5,962
6 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 35,887 81,286
Amounts falling due within one year 35,887 81,286
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Controlling party
The LLP is controlled by M Greville.
8 Other information
M Greville & Co LLP is a limited liability partnership incorporated in England. Its registered office is:
Princes Building
Bath Road
Cowes
Isle of Wight
PO31 7QN
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