REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
FMS SEVENOAKS LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
FMS SEVENOAKS LLP |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
FMS SEVENOAKS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ground Floor Oakhurst House |
77 Mount Ephraim |
Tunbridge Wells |
Kent |
TN4 8BS |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
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 |
566,353 |
475,134 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
416,353 |
325,134 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 150,000 | 150,000 |
566,353 | 475,134 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 416,353 | 325,134 |
Members' other interests | 150,000 | 150,000 |
566,353 | 475,134 |
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. |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2023 |
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 |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
FMS Sevenoaks LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents commission income and advisor charges received and amounts invoiced during the year, excluding value added tax, together with amounts shown on insurance company statements notified as owing to the partnership in respect of commission income and adviser charges due as at the year end date. |
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
Fixed assets |
Motor vehicles | - |
Pension costs and other post-retirement benefits |
The LLP contributes to defined contribution pension plans for employees. The assets of the plans are held |
separately from those of the LLP. The annual contributions payable are charged to the Profit and Loss |
Account. |
Hire purchase agreements |
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding. |
Finance lease agreements |
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 in accordance with the above depreciation policies. Future instalments under such leases net of finance charges, are included within creditors. Rentals payable are apportioned between the financial element, which is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding, and the capital element which reduces the outstanding obligation for future instalments. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Motor |
vehicles |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
Accrued expenses |
FMS SEVENOAKS LLP (REGISTERED NUMBER: OC325043) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 83,427 | 98,773 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors. |
10. | RELATED PARTY DISCLOSURES |
For the year under review, the LLP was controlled by its members. |