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Registered Number: OC357068
England and Wales

 

 

 

CHANNON CONSULTANTS LLP


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2022
£
Fixed assets      
Tangible fixed assets 3 116,002    104,378 
Investments 4 (4,155)   (4,155)
111,847    100,223 
Current assets      
Stocks 5 10,000    10,000 
Debtors 6 5,257    16,853 
Cash at bank and in hand 20,290    15,792 
35,547    42,645 
Creditors: amount falling due within one year 7 (22,267)   (31,259)
Net current assets 13,280    11,386 
 
Total assets less current liabilities 125,127    111,609 
Creditors: amount falling due after more than one year 8 (22,177)  
Net assets 102,950    111,609 
 

Represented by:
Loans and other debts due to members 71,828    54,554 
Members' other interest
Other reserves 31,122    57,055 
31,122    57,055 

102,950    111,609 
 

Total members' interests
Loans and other debts due to members 71,828    54,554 
Members' other interests 31,122    57,055 
102,950    111,609 
 


For the period ending 31 March 2024 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:


.............................................................................
Wayne Channon
Designated Member
Date approved by the members: 30 September 2024
1
General Information
Channon Consultants LLP is a limited liability partnership, registered in England and Wales, under OC357068, at Wilmshurst, Fletching, Uckfield, East Sussex, TN22 3YB.  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 including the provisions of Section 1A "Smaller Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships, together with 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 LLP.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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:
Plant and machinery etc 15%
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.   Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2023 455,635    455,635 
Additions 38,394    38,394 
Disposals  
At 31 March 2024 494,029    494,029 
Depreciation
At 01 January 2023 351,257    351,257 
Charge for period 26,770    26,770 
On disposals  
At 31 March 2024 378,027    378,027 
Net book values
Closing balance as at 31 March 2024 116,002    116,002 
Opening balance as at 01 January 2023 104,378    104,378 

The net book value of Motor Vehicles includes £ 67,202 (2022 £44,316) in respect of assets leased under finance leases or hire purchase contracts.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 (4,155)   (4,155)
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 (4,155)   (4,155)

5.

Stocks

2024
£
  2022
£
Valuation 10,000    10,000 
10,000    10,000 

6.

Debtors: amounts falling due within one year

2024
£
  2022
£
Trade Debtors 1,200    1,200 
Other Debtors 4,057    15,653 
5,257    16,853 

7.

Creditors: amount falling due within one year

2024
£
  2022
£
Trade Creditors 34   
Obligations under HP/Financial Leases 21,089    30,115 
Other Creditors 1,144    1,144 
22,267    31,259 

8.

Creditors: amount falling due after more than one year

2024
£
  2022
£
Obligations under HP/Financial Leases 22,177   
22,177   

9.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2022
£
 2024
£
 2022
£
Cells4Life Group LLP15,000 12,000 

The LLP invoices consultancy services on an arms length basis to Cells4Life Group LLP, an LLP in which the LLP and its members are also members.
10.

Loans and Other Debts Due to Members

Loans and other debts due to members represents profits which have been allocated but not yet paid to members.  These profits are due to be paid within one year and would rank after unsecured creditors in the event of a winding-up.
2