IRIS Accounts Production v24.2.0.383 OC343756 designated member 1.5.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3437562023-04-30OC3437562024-03-31OC3437562023-05-012024-03-31OC3437562022-04-30OC3437562022-05-012023-04-30OC3437562023-04-30OC343756ns15:EnglandWales2023-05-012024-03-31OC343756ns14:PoundSterling2023-05-012024-03-31OC343756ns10:PartnerLLP12023-05-012024-03-31OC343756ns10:LimitedLiabilityPartnershipLLP2023-05-012024-03-31OC343756ns10:SmallEntities2023-05-012024-03-31OC343756ns10:AuditExempt-NoAccountantsReport2023-05-012024-03-31OC343756ns10:SmallCompaniesRegimeForAccounts2023-05-012024-03-31OC343756ns10:LimitedLiabilityPartnershipsSORP2023-05-012024-03-31OC343756ns10:FullAccounts2023-05-012024-03-31OC343756ns10:PartnerLLP22023-05-012024-03-31OC343756ns10:PartnerLLP32023-05-012024-03-31OC343756ns10:RegisteredOffice2023-05-012024-03-31OC343756ns5:CurrentFinancialInstruments2024-03-31OC343756ns5:CurrentFinancialInstruments2023-04-30OC343756ns5:Non-currentFinancialInstruments2024-03-31OC343756ns5:Non-currentFinancialInstruments2023-04-30OC343756ns5:FurnitureFittings2023-05-012024-03-31OC343756ns5:MotorVehicles2023-05-012024-03-31OC343756ns5:ComputerEquipment2023-05-012024-03-31OC343756ns5:FurnitureFittings2023-04-30OC343756ns5:MotorVehicles2023-04-30OC343756ns5:ComputerEquipment2023-04-30OC343756ns5:FurnitureFittings2024-03-31OC343756ns5:MotorVehicles2024-03-31OC343756ns5:ComputerEquipment2024-03-31OC343756ns5:FurnitureFittings2023-04-30OC343756ns5:MotorVehicles2023-04-30OC343756ns5:ComputerEquipment2023-04-30OC343756ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC343756ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30OC343756ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC343756ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30OC343756ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-31OC343756ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-04-30OC343756ns5:HirePurchaseContracts2024-03-31OC343756ns5:HirePurchaseContracts2023-04-30OC343756ns5:WithinOneYear2024-03-31OC343756ns5:WithinOneYear2023-04-30OC343756ns5:BetweenOneFiveYears2024-03-31OC343756ns5:BetweenOneFiveYears2023-04-30OC343756ns5:MoreThanFiveYears2024-03-31OC343756ns5:MoreThanFiveYears2023-04-30OC343756ns5:AllPeriods2024-03-31OC343756ns5:AllPeriods2023-04-30
REGISTERED NUMBER: OC343756 (England and Wales)








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: A D D Green
Mrs C L Searle
J C Wheeler





REGISTERED OFFICE: 74 Bounty Road
Basingstoke
Hampshire
RG21 3BZ





REGISTERED NUMBER: OC343756 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
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 73,120 65,881

CURRENT ASSETS
Stocks 94,143 88,192
Debtors 5 226,564 349,962
Cash at bank and in hand 231,877 385,731
552,584 823,885
CREDITORS
Amounts falling due within one year 6 551,388 423,231
NET CURRENT ASSETS 1,196 400,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

74,316

466,535

CREDITORS
Amounts falling due after more than one
year

7

46,555

80,100
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 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 period 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.

Neale Turk LLP (Registered number: OC343756)

Balance Sheet - continued
31 March 2024


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 29 August 2024 and were signed by:





J C Wheeler - Designated member

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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 23 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 6,245 118,424 38,687 163,356
Additions - 49,994 - 49,994
Disposals - (62,494 ) - (62,494 )
At 31 March 2024 6,245 105,924 38,687 150,856
DEPRECIATION
At 1 May 2023 5,105 58,621 33,749 97,475
Charge for period 285 22,986 1,628 24,899
Eliminated on disposal - (44,638 ) - (44,638 )
At 31 March 2024 5,390 36,969 35,377 77,736
NET BOOK VALUE
At 31 March 2024 855 68,955 3,310 73,120
At 30 April 2023 1,140 59,803 4,938 65,881

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.4.23
£    £   
Trade debtors 121,827 261,239
Other debtors 104,737 88,723
226,564 349,962

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 125,311 249,206
Hire purchase contracts (see note 8) 15,996 15,269
Trade creditors 5,000 29,544
Taxation and social security 67,372 89,340
Other creditors 337,709 39,872
551,388 423,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 46,555 30,100
Other creditors - 50,000
46,555 80,100

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 15,996 15,269
Between one and five years 46,555 30,100
62,551 45,369

Non-cancellable operating leases
31.3.24 30.4.23
£    £   
Within one year 91,440 91,440
Between one and five years 339,100 345,920
In more than five years 1,183,000 1,260,000
1,613,540 1,697,360

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.