REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
for |
Neale Turk LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
for |
Neale Turk LLP |
Neale Turk LLP (Registered number: OC343756) |
Contents of the Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Neale Turk LLP |
General Information |
for the Period 1 May 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Riverside View |
Basing Road |
Old Basing |
Basingstoke |
Hampshire |
RG24 7AL |
Neale Turk LLP (Registered number: OC343756) |
Balance Sheet |
31 March 2024 |
31.3.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
27,761 |
386,435 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
27,761 |
386,435 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 27,761 | 386,435 |
Amounts due from members | 5 | (31,222 | ) | - |
(3,461 | ) | 386,435 |
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. |
Neale Turk LLP (Registered number: OC343756) |
Balance Sheet - continued |
31 March 2024 |
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 |
Neale Turk LLP (Registered number: OC343756) |
Notes to the Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Neale Turk 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 year end of the LLP has been shortened by 1 month from 30 April 2024 to 31 March 2024 due to the basis period reform by HMRC. The comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover, which is stated net of value added tax, represents the value of professional services provided to clients during the year. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Amounts recoverable from clients in respect on unbilled work performed |
Services provided during the year to clients that at the balance sheet date have not yet been billed are recognised as turnover. Turnover is recognised by reference to an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. |
Financial instruments |
Debtors and creditors payable/receivable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
Hire purchase and leasing commitments |
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. |
Neale Turk LLP (Registered number: OC343756) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Impairment |
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease. |
Tax provisions |
The taxation payable on the profits of the LLP is solely the personal liability of the members during the period. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
Neale Turk LLP (Registered number: OC343756) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 30.4.23 |
£ | £ |
Hire purchase contracts (see note 8) |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31.3.24 | 30.4.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
31.3.24 | 30.4.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 30.4.23 |
£ | £ |
Hire purchase contracts | 62,551 | 45,369 |
The obligations under hire purchase agreements are secured against the assets to which they relate. |
Neale Turk LLP (Registered number: OC343756) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 March 2024 |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of winding up, members' other interests rank after secured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. |
There is no further formal protection afforded to creditors in the event of a winding up. |
There are no restrictions on the ability of members to reduce the amount of members' other interests. |