Limited Liability Partnership registration number OC396097 (England and Wales)
DR ALISON WHITE & PARTNERS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DR ALISON WHITE & PARTNERS LLP
CONTENTS
Page
Members' report
1
Balance sheet
2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 7
DR ALISON WHITE & PARTNERS LLP
MEMBERS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
- 1 -
The members present their annual report and financial statements for the period ended 31 March 2024.
Principal activities
The principal activity of the LLP in the period under review was that of clinical psychology.
Members' drawings, contributions and repayments
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.
A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".
Designated members
The designated members who held office during the period and up to the date of signature of the financial statements were as follows:
Dr A White
Mr P Reynolds
T E V Reynolds
Mr J W White
Small LLPs exemption
This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.
Approved by the members on 13 August 2024 and signed on behalf by:
13 August 2024
Dr A White
Designated Member
DR ALISON WHITE & PARTNERS LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,743
17,859
Current assets
Debtors
4
21,547
23,975
Cash at bank and in hand
11,716
9,357
33,263
33,332
Creditors: amounts falling due within one year
5
(55,732)
(46,761)
Net current liabilities
(22,469)
(13,429)
Total assets less current liabilities
(6,726)
4,430
Creditors: amounts falling due after more than one year
6
(24,821)
(24,203)
Net liabilities attributable to members
(31,547)
(19,773)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
30,172
84,146
Other amounts
(61,719)
(103,919)
(31,547)
(19,773)
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial period ended 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 13 August 2024 and are signed on their behalf by:
13 August 2024
Dr A White
Mr P Reynolds
Designated member
Designated Member
Limited Liability Partnership registration number OC396097 (England and Wales)
DR ALISON WHITE & PARTNERS LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
Current financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2024
£
£
£
Members' interests at 1 November 2023
(19,773)
(19,773)
(19,773)
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
30,172
30,172
30,172
Result for the period available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the period
10,399
10,399
10,399
Repayment of debt (including members' capital classified as a liability)
(41,946)
(41,946)
(41,946)
Members' interests at 31 March 2024
(31,547)
(31,547)
(31,547)
DR ALISON WHITE & PARTNERS LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
Prior financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2023
£
£
£
Members' interests at 1 November 2022
15,222
15,222
15,222
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
84,146
84,146
84,146
Result for the period available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
99,368
99,368
99,368
Repayment of debt (including members' capital classified as a liability)
(119,141)
(119,141)
(119,141)
Members' interests at 31 March 2023
(19,773)
(19,773)
(19,773)
DR ALISON WHITE & PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Limited liability partnership information
Dr Alison White & Partners LLP is a limited liability partnership incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Reporting period
The reporting period is shorter than one year due to the partners altering the financial year and as a result the prior year figures are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover represents amounts receivable for services provided in the normal cause of business, net of trade discounts, VAT and other sales-related taxes.
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for services provided.
If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.
1.5
Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
DR ALISON WHITE & PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings freehold
Straightline basis over 10 years
Fixtures, fittings and equipment
25% on reducing balance
Computer equipment
33% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
1.7
Financial instruments
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 profit and loss account in other administrative expenses.
2
Employees
The average number of persons (excluding members) employed by the partnership during the period was:
2024
2023
Number
Number
Total
1
1
DR ALISON WHITE & PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 7 -
3
Tangible fixed assets
Land and buildings freehold
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023 and 31 March 2024
19,910
8,755
6,383
17,995
53,043
Depreciation and impairment
At 1 November 2023
13,937
6,954
4,944
9,349
35,184
Depreciation charged in the period
830
187
198
901
2,116
At 31 March 2024
14,767
7,141
5,142
10,250
37,300
Carrying amount
At 31 March 2024
5,143
1,614
1,241
7,745
15,743
At 31 October 2023
5,973
1,801
1,439
8,646
17,859
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
21,547
23,975
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
6,966
8,816
Other creditors
48,766
37,945
55,732
46,761
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
24,821
24,203
7
Loans and other debts due to members
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.
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