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REGISTERED NUMBER: OC420396 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Emerald Conveyancing LLP

Emerald Conveyancing LLP (Registered number: OC420396)

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










Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Emerald Conveyancing LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: A Pearcy
M Sutton
M T Piper





REGISTERED OFFICE: 77 Rowlands Road
Worthing
BN11 3JN





REGISTERED NUMBER: OC420396 (England and Wales)





ACCOUNTANTS: THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX

Emerald Conveyancing LLP (Registered number: OC420396)

Report of the Members
for the Year Ended 31 December 2023


The members present their report with the financial statements of the LLP for the year ended 31 December 2023.

DESIGNATED MEMBERS
The designated members during the year under review were:

A Pearcy
M Sutton
M T Piper

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £8,139 (2022 - £9,340 profit).

MEMBERS' INTERESTS

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:





M Sutton - Designated member


24 September 2024

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Emerald Conveyancing LLP



In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Emerald Conveyancing LLP for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Emerald Conveyancing LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Emerald Conveyancing LLP and state those matters that we have agreed to state to the members of Emerald Conveyancing LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emerald Conveyancing LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Emerald Conveyancing LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Emerald Conveyancing LLP. You consider that Emerald Conveyancing LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Emerald Conveyancing LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






THL Accountancy Ltd
303 Goring Road
Worthing
West Sussex
BN12 4NX


24 September 2024

Emerald Conveyancing LLP (Registered number: OC420396)

Income Statement
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 21,490 38,309

Administrative expenses 10,614 26,232
OPERATING PROFIT 4 10,876 12,077


Interest payable and similar expenses 2,737 2,737
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




8,139




9,340

Emerald Conveyancing LLP (Registered number: OC420396)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 53,551 59,500

CURRENT ASSETS
Cash at bank 5,858 5,178

CREDITORS
Amounts falling due within one year 6 14,115 14,115
NET CURRENT LIABILITIES (8,257 ) (8,937 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,294

50,563

CREDITORS
Amounts falling due after more than one
year

7

15,180

28,588
NET ASSETS ATTRIBUTABLE TO
MEMBERS

30,114

21,975

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

30,114

21,975

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 30,114 21,975

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.

Emerald Conveyancing LLP (Registered number: OC420396)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 September 2024 and were signed by:





M Sutton - Designated member

Emerald Conveyancing LLP (Registered number: OC420396)

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


1. STATUTORY INFORMATION

Emerald Conveyancing 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible 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 - 10% on reducing balance
Computer equipment - 3 years straight line

The depreciation policy for motor vehicles has changed at the start of the period from 5 years straight line to 10% reducing balance.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 3,332 9,578

Emerald Conveyancing LLP (Registered number: OC420396)

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


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 102,050 880 102,930
DEPRECIATION
At 1 January 2023 42,550 880 43,430
Charge for year 5,949 - 5,949
At 31 December 2023 48,499 880 49,379
NET BOOK VALUE
At 31 December 2023 53,551 - 53,551
At 31 December 2022 59,500 - 59,500

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 54,160
DEPRECIATION
At 1 January 2023 27,983
Charge for year 2,617
At 31 December 2023 30,600
NET BOOK VALUE
At 31 December 2023 23,560
At 31 December 2022 26,177

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 13,407 13,407
Other creditors 708 708
14,115 14,115

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 15,180 28,588

Emerald Conveyancing LLP (Registered number: OC420396)

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


8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 30,114 21,975

Falling due within one year 30,114 21,975

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.