Registered number
OC412240
Stuart Nunn Mortgages LLP
Filleted Accounts
31 March 2024
Stuart Nunn Mortgages LLP
Registered number: OC412240
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 32,000 44,000
Current assets
Debtors 5 11,384 13,111
Cash at bank and in hand 39,607 30,611
50,991 43,722
Creditors: amounts falling due within one year 6 (6,530) (2,121)
Net current assets 44,461 41,601
Total assets less current liabilities 76,461 85,601
Net assets attributable to members 76,461 85,601
Represented by:
Loans and other debts due to members 7 76,461 85,601
76,461 85,601
Total members' interests
Loans and other debts due to members 7 76,461 85,601
76,461 85,601
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 24 September 2024 and signed on their behalf by:
M E von Hippel
Designated member
Stuart Nunn Mortgages LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Members' remuneration and division of profits
No members have a contract of employment and therefore no remuneration is included in the profit and loss account.

Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are otherwise included within other reserves.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 100% write off in year 1
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 120,000
At 31 March 2024 120,000
Amortisation
At 1 April 2023 76,000
Provided during the year 12,000
At 31 March 2024 88,000
Net book value
At 31 March 2024 32,000
At 31 March 2023 44,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 3,832
Additions 1,328
At 31 March 2024 5,160
Depreciation
At 1 April 2023 3,832
Charge for the year 1,328
At 31 March 2024 5,160
Net book value
At 31 March 2024 -
5 Debtors 2024 2023
£ £
Other debtors 11,384 13,111
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 836 1,010
Other creditors 5,694 1,111
6,530 2,121
7 Loans and other debts due to members 2024 2023
£ £
Loans from members 103,110 115,089
Amounts due to members in respect of profits (26,649) (29,488)
76,461 85,601
Amounts falling due within one year 76,461 85,601
8 Other information
Stuart Nunn Mortgages LLP is a limited liability partnership incorporated in England. Its registered office is:
2 Dukes Court
54-62 Newmarket Road
Cambridge
CB5 8DZ
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