REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Mercury House |
19-21 Chapel Street |
Marlow |
Buckinghamshire |
SL7 3HN |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31st March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of management consultancy. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £124,436 (2023 - £356,027 profit). |
MEMBERS' INTERESTS |
The profits of the LLP are allocated to members in accordance with the Members' Agreement. Members are entitled to take drawings in anticipation of profits based on amounts agreed from time to time and as profits and working capital requirements allow. |
The subscription to and repayment of members' capital is determined by the members and depends on the needs of the LLP. In accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", members capital is included within "loans and other debts due to members" and is determined by the working capital requirements of the LLP. |
ON BEHALF OF THE MEMBERS: |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
BALANCE SHEET |
31ST MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
30,000 |
167,410 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
30,000 |
167,410 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 30,000 | 167,410 |
Amounts due from members | 6 | (19,643 | ) | - |
10,357 | 167,410 |
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 were approved by the members of the LLP and authorised for issue on |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Orion Partners (Professional Advisors) 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 |
Turnover represents net invoiced sales of services rendered, excluding value added tax. |
Tangible fixed assets |
Computer equipment | - |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.3.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st April 2023 |
and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts due from members | 19,643 | - |
VAT |
ORION PARTNERS (PROFESSIONAL ADVISORS) |
LLP (REGISTERED NUMBER: OC303140) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
VAT | - | 8,037 |
Accrued expenses |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed to members in respect of profits | - | 137,410 |
Capital account | 30,000 | 30,000 |
30,000 | 167,410 |
Falling due within one year | - | 137,410 |
Falling due after more than one year | 30,000 | 30,000 |
30,000 | 167,410 |
In the event of a winding up, the loans and other debts due to members have no preferential rights over other creditors. The members' capital are amounts due after more than one year and other amounts are generally due within one year. |