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REGISTERED NUMBER: OC361779 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Hine Downing LLP

Hine Downing LLP (Registered number: OC361779)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hine Downing LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: A R Deacon
J W Lowry
W R Richards
L S Roberts
Mrs D Standen





REGISTERED OFFICE: 8-14 Berkeley Vale
FALMOUTH
Cornwall
TR11 3PH





REGISTERED NUMBER: OC361779 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Hine Downing LLP (Registered number: OC361779)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,106 32,229

CURRENT ASSETS
Debtors 5 718,168 675,149
Cash at bank and in hand 504,798 608,943
1,222,966 1,284,092
CREDITORS
Amounts falling due within one year 6 371,143 359,712
NET CURRENT ASSETS 851,823 924,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

897,929

956,609

CREDITORS
Amounts falling due after more than
one year

7

85,540

153,270
NET ASSETS ATTRIBUTABLE TO
MEMBERS

812,389

803,339

Hine Downing LLP (Registered number: OC361779)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE
TO MEMBERS

10

525,389

570,339

MEMBERS' OTHER INTERESTS
Capital accounts 287,000 233,000
812,389 803,339

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

10

525,389

570,339
Members' other interests 287,000 233,000
812,389 803,339

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.

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 9 September 2024 and were signed by:





J W Lowry - Designated member

Hine Downing LLP (Registered number: OC361779)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hine Downing 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Fee income
Fee income represents revenue from the normal activities of the practice to the extent that the seller obtains a right to consideration in exchange for its performance of those activities, exclusive of Value Added Tax.

The revenue recognised is measure by reference to the amounts likely to be chargeable to clients, less a suitable allowance to recognise the uncertainties remaining in the completion of the obligations. Contingent income is recognised only when the contingent element is assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Financial instruments are recognised in the LLP's balance sheet when the LLP becomes party to the contractual provisions of the instrument.

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 income statement.

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.

Hine Downing LLP (Registered number: OC361779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Amounts recoverable on contracts
Amounts recoverable on contracts is stated at the lower of cost and net realisable value. Cost is calculated on the basis of its direct labour element plus attributable overheads.

Movements in amounts recoverable on contracts are reflected in the profit and loss account.

Annuities
The partnership agreement includes certain requirements for the payment of annuities to former partners. The partners have agreed that no provision for such liabilities or the corresponding deferred tax asset will be included in the financial accounts.

Taxation
The taxation payable on the partnership profits is solely the personal liability of the individual members consequently neither partnership taxation nor related deferred taxation arising in respect of the partnership are accounted for in these financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 28 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 7,176 59,202 80,993 147,371
Additions - 389 26,072 26,461
At 31 December 2023 7,176 59,591 107,065 173,832
DEPRECIATION
At 1 January 2023 3,554 31,306 80,282 115,142
Charge for year 362 2,820 9,402 12,584
At 31 December 2023 3,916 34,126 89,684 127,726
NET BOOK VALUE
At 31 December 2023 3,260 25,465 17,381 46,106
At 31 December 2022 3,622 27,896 711 32,229

Hine Downing LLP (Registered number: OC361779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 245,887 197,273
Amounts recoverable on contract 356,821 358,765
Other debtors 8,769 9,178
Prepayments 106,691 109,933
718,168 675,149

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,374 87,290
Trade creditors 33,612 32,569
Social security and other taxes 25,810 18,364
NEST pension 4,348 3,311
VAT 127,769 118,360
Accrued expenses 79,230 99,818
371,143 359,712

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 85,540 153,270

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 66,590 95,114
Between one and five years - 34,709
66,590 129,823

Hine Downing LLP (Registered number: OC361779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Office loan 43,422 65,698
CBILS loan 109,848 155,303
153,270 221,001

Lloyds Bank plc have a fixed and floating charge over the assets of the Limited Liability Partnership.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Unsecured debt due to members will rank equally with debts due to other unsecured creditors in a winding up.

11. ULTIMATE CONTROLLING PARTY

The members detailed on page 2 control the entity.