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Registered Number: OC370912
England and Wales

 

 

 

GENRY LLP


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,134    1,675 
Investment property 4 37,500    37,500 
38,634    39,175 
Current assets      
Work in progress 5 10,000    25,000 
Debtors 6 291    306 
Cash at bank and in hand 10,877    531 
21,168    25,837 
Creditors: amount falling due within one year 7 (10,301)   (2,762)
Net current assets 10,867    23,075 
 
Total assets less current liabilities 49,501    62,250 
Creditors: amount falling due after more than one year 8 (3,833)   (5,574)
Net assets 45,668    56,676 
 

Represented by:
Loans and other debts due to members 9 45,668    56,676 
Members
Other reserves  
 

45,668    56,676 
 

Total members
Loans and other debts due to members 45,668    56,676 
Members  
45,668    56,676 
 


For the year ending 31 December 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.

These financial statements have been prepared in accordance with the special provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006
These accounts were approved by the members and signed on their behalf by:


.............................................................................
H J Prescott
Designated Member
Date approved by the members: 24 September 2024
1
General Information
Genry LLP is a limited liability partnership, registered in England and Wales, registration number OC370912, registration address 18 Nethercroft, Levens, Kendal, Cumbria, LA8 8LU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the partnership.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the partnership, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33% Straight Line
Investment properties
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Stocks
Work in Progress is valued at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 January 2023 9,461    9,461 
Additions  
Disposals (7,246)   (7,246)
At 31 December 2023 2,215    2,215 
Depreciation
At 01 January 2023 7,786    7,786 
Charge for year 541    541 
On disposals (7,246)   (7,246)
At 31 December 2023 1,081    1,081 
Net book values
Closing balance as at 31 December 2023 1,134    1,134 
Opening balance as at 01 January 2023 1,675    1,675 


4.

Investment property

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 37,500    37,500 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2023 37,500    37,500 

5.

Work in progress

2023
£
  2022
£
Work in Progress 10,000    25,000 
10,000    25,000 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 291    268 
VAT   38 
291    306 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 2,000    2,041 
Other Creditors 756    721 
VAT 7,545   
10,301    2,762 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 3,833    5,574 
3,833    5,574 
Security
Bank Loans & Overdrafts comprise of a Bounce Back Loan.

9.

Members' Interests

Other reserves   Loans and other debts due to members less any amounts due from members included in debtors   Total
Balance at 01 January 2023   56,676    56,676 
Profit for the period available for discretionary division among members 30,940      30,940 
Members' interests after profit for the period 30,940    56,676    87,616 
Other divisions of profits (30,940)     (30,940)
Introduced by members   11,902    11,902 
Repaid to members   (53,850)   (53,850)
Other movements   30,940    30,940 
Balance at 31 December 2023   45,668    45,668 
 



10.

Loans and other debts due to members

Loan and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
2