Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC311583 Ms Lorna O'Shea Phoenix Support Ltd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC311583 2023-03-31 OC311583 2024-03-31 OC311583 2023-04-01 2024-03-31 OC311583 frs-core:CurrentFinancialInstruments 2024-03-31 OC311583 frs-core:Non-currentFinancialInstruments 2024-03-31 OC311583 frs-core:BetweenOneFiveYears 2024-03-31 OC311583 frs-core:ComputerEquipment 2024-03-31 OC311583 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC311583 frs-core:ComputerEquipment 2023-03-31 OC311583 frs-core:FurnitureFittings 2024-03-31 OC311583 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC311583 frs-core:FurnitureFittings 2023-03-31 OC311583 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 OC311583 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC311583 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 OC311583 frs-core:MotorVehicles 2024-03-31 OC311583 frs-core:MotorVehicles 2023-04-01 2024-03-31 OC311583 frs-core:MotorVehicles 2023-03-31 OC311583 frs-core:PlantMachinery 2024-03-31 OC311583 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC311583 frs-core:PlantMachinery 2023-03-31 OC311583 frs-core:WithinOneYear 2024-03-31 OC311583 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC311583 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC311583 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC311583 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC311583 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC311583 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC311583 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC311583 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC311583 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC311583 2022-03-31 OC311583 2023-03-31 OC311583 2022-04-01 2023-03-31 OC311583 frs-core:CurrentFinancialInstruments 2023-03-31 OC311583 frs-core:Non-currentFinancialInstruments 2023-03-31 OC311583 frs-core:BetweenOneFiveYears 2023-03-31 OC311583 frs-core:WithinOneYear 2023-03-31
Registered number: OC311583
The O'Shea Partnership LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham, Norwich
Norfolk
NR11 6FD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC311583
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,525,168 4,758,835
4,525,168 4,758,835
CURRENT ASSETS
Debtors 5 739,967 564,087
739,967 564,087
Creditors: Amounts Falling Due Within One Year 6 (412,620 ) (484,333 )
NET CURRENT ASSETS (LIABILITIES) 327,347 79,754
TOTAL ASSETS LESS CURRENT LIABILITIES 4,852,515 4,838,589
Creditors: Amounts Falling Due After More Than One Year 7 (1,136,407 ) (1,145,619 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,716,108 3,692,970
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 492,292 469,154
492,292 469,154
Equity
Members' other interests
Revaluation reserve 1,706,700 1,706,700
Other reserves 1,517,116 1,517,116
3,223,816 3,223,816
3,716,108 3,692,970
TOTAL MEMBERS' INTEREST
Amounts due from members (521,561) (345,681)
Loans and other debts due to members within one year 492,292 469,154
Members' other interests 3,223,816 3,223,816
3,194,547 3,347,289
Page 1
Page 2
For the year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Ms Lorna O'Shea
Designated Member
30 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The O'Shea Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC311583 . The Registered Office is 17 Hart Street , Maidstone, Kent, ME16 8RA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 15% reducing balance on improvements
Plant & Machinery 30% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 30% reducing balance
Computer Equipment 30% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 4,771,095 20,985 100,081 107,962
Additions 500 - - -
Disposals (208,896 ) - - -
As at 31 March 2024 4,562,699 20,985 100,081 107,962
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 82,516 20,834 33,736 104,317
Provided during the period (457,112 ) 45 16,586 1,094
Disposals 464,624 - - -
As at 31 March 2024 90,028 20,879 50,322 105,411
Net Book Value
As at 31 March 2024 4,472,671 106 49,759 2,551
As at 1 April 2023 4,688,579 151 66,345 3,645
Computer Equipment Total
£ £
Cost
As at 1 April 2023 18,774 5,018,897
Additions - 500
Disposals - (208,896 )
As at 31 March 2024 18,774 4,810,501
Depreciation
As at 1 April 2023 18,659 260,062
Provided during the period 34 (439,353 )
Disposals - 464,624
As at 31 March 2024 18,693 285,333
Net Book Value
As at 31 March 2024 81 4,525,168
As at 1 April 2023 115 4,758,835
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 739,967 564,087
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,431 8,596
Bank loans and overdrafts - 32,202
Amounts owed to participating interests 400,707 442,149
Other creditors 1,482 1,386
412,620 484,333
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,101 45,496
Bank loans 1,102,306 1,100,123
1,136,407 1,145,619
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,431 8,596
Later than one year and not later than five years 34,101 45,496
44,532 54,092
44,532 54,092
Page 5