Registered No. OC333021 (England and Wales)
ESS Ventilation LLP
Unaudited accounts
for the year ended 31 March 2024
ESS Ventilation LLP
LLP Information
for the year ended 31 March 2024
Designated members
Mr Emir Mulabegovic
Registered Number
OC333021 (England and Wales)
Registered Office
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
ESS Ventilation LLP
Statement of financial position
as at 31 March 2024
Tangible assets
6,646
4,409
Cash at bank and in hand
42,355
10,913
Creditors: amounts falling due within one year
(89,219)
(84,677)
Net current assets
9,010
13,322
Net assets attributable to members
15,656
17,731
Loans and other debts due to members
15,656
17,731
Loans and other debts due to members
15,656
17,731
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 5 September 2024.
Mr Emir Mulabegovic
Designated member
Limited Liability Partnership Registration No. OC333021
ESS Ventilation LLP
Notes to the Accounts
for the year ended 31 March 2024
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.
The accounts are presented in £ sterling.
Turnover represents net invoiced sales of goods, excluding value added tax. Revenue is recognised when the product is installed and the right to consideration arises.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
In the event of the winding up of the LLP, any surplus of assets of the LLP over its liabilities remaining at the conclusion of winding up (after all money due to the creditors of the LLP and all expenses of the winding up) shall be payable by the liquidator to the Members, first in paying to the Members their capital contributions and secondly, in paying to the Members the balance remaining, in accordance with the respective proportions to which the Members would be entitled if they were all Outgoing Members.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.
All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.
ESS Ventilation LLP
Notes to the Accounts
for the year ended 31 March 2024
Capital based government grants are included within accruals and deferred income in the balance sheet and credited to trading profit over the expected useful economic lives of the assets to which they relate.
ESS Ventilation LLP is a limited liability partnership, incorporated in England and Wales, registration number OC333021. Its registered office is Wolfe Mead, Farnham Road, Bordon, Hampshire, GU35 0NH.
3
Tangible fixed assets
Computer equipment
4
Creditors: amounts falling due within one year
2024
2023
Trade creditors
13,071
9,115
Taxes and social security costs
4,379
3,893
Other creditors
70,919
70,919
5
Loans and other debts due to members
2024
2023
Loans from members
(22,961)
7,530
Amounts due to members in respect of profits
38,617
10,201
Amounts falling due within one year
15,656
17,731
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 3 (2023: 4).