REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
FOR |
ELGC LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
FOR |
ELGC LLP |
ELGC LLP (REGISTERED NUMBER: OC371234) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
ELGC LLP (REGISTERED NUMBER: OC371234) |
BALANCE SHEET |
5TH APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 47,684 | 63,880 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 9 | 47,684 | 63,880 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 47,684 | 63,880 |
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. |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
ELGC LLP (REGISTERED NUMBER: OC371234) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
1. | STATUTORY INFORMATION |
ELGC LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the LLP and rounded to the nearest £1. |
The significant accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
When the outcome of a transaction can be estimated reliably, turnover from consultancy is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to number of days completed. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows. |
Plant & machinery | - 10% on cost |
Motor Vehicles | - 25% on reducing balance |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Leases |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. |
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
ELGC LLP (REGISTERED NUMBER: OC371234) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st May 2023 |
and 5th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for period |
At 5th April 2024 |
NET BOOK VALUE |
At 5th April 2024 |
At 30th April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
ELGC LLP (REGISTERED NUMBER: OC371234) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST MAY 2023 TO 5TH APRIL 2024 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 47,684 | 63,880 |
Falling due within one year | 47,684 | 63,880 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank subject to the provisions of the Insolvency Act 1986 as amended by the Act and the Regulations. As to payment of preferential and other debts (including advances), any surplus remaining shall be distributed among the Members rateably in the proportions in which they shared profits immediately prior to commencement of the winding up. |
For the avoidance of doubt, no Member has agreed with other Members or with the LLP that they shall in the event of winding up the LLP contribute in any way to the assets of the LLP in accordance with Section 74 of the Insolvency Act. |