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REGISTERED NUMBER: OC325043 (England and Wales)















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: S R Billing
T H Rider





REGISTERED OFFICE: Second Floor
87-93 High Street
SEVENOAKS
Kent
TN13 1LE





REGISTERED NUMBER: OC325043 (England and Wales)





ACCOUNTANTS: Wells Associates
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 4 114,078 119,282

CURRENT ASSETS
Debtors 5 60,146 69,903
Cash at bank and in hand 481,895 393,095
542,041 462,998
CREDITORS
Amounts falling due within one year 6 (21,685 ) (23,719 )
NET CURRENT ASSETS 520,356 439,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

634,434

558,561

CREDITORS
Amounts falling due after more than one
year

7

(68,081

)

(83,427

)
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 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 year ended 31 December 2023.

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


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 3 September 2024 and were signed by:





S R Billing - Designated member

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
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
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance

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 1 (2022 - 1 ) .

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 155,400
Additions 34,000
Disposals (29,762 )
At 31 December 2023 159,638
DEPRECIATION
At 1 January 2023 36,118
Charge for year 29,526
Eliminated on disposal (20,084 )
At 31 December 2023 45,560
NET BOOK VALUE
At 31 December 2023 114,078
At 31 December 2022 119,282

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 125,638
DEPRECIATION
At 1 January 2023 16,034
Charge for year 27,401
At 31 December 2023 43,435
NET BOOK VALUE
At 31 December 2023 82,203
At 31 December 2022 109,604

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,755 27,912
Other debtors 30,391 41,991
60,146 69,903

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 15,346 15,346
Trade creditors 1,161 961
Social security and other taxes 3,594 5,828
Accrued expenses 1,584 1,584
21,685 23,719

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 68,081 83,427

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.