1 April 2023 false No description of principal activity Taxfiler 2024.5 OC440502business:LimitedLiabilityPartnershipLLP2023-04-012024-03-31 OC4405022023-03-31 OC4405022023-04-012024-03-31 OC440502business:AuditExemptWithAccountantsReport2023-04-012024-03-31 OC440502business:FullAccounts2023-04-012024-03-31 OC4405022024-03-31 OC440502business:PartnerLLP12023-04-012024-03-31 OC440502business:PartnerLLP22023-04-012024-03-31 OC4405022023-03-31 OC440502core:WithinOneYear2024-03-31 OC440502core:WithinOneYear2023-03-31 OC440502core:ShareCapital2024-03-31 OC440502core:ShareCapital2023-03-31 OC440502core:RevaluationReserve2024-03-31 OC440502core:RevaluationReserve2023-03-31 OC440502core:RetainedEarningsAccumulatedLosses2024-03-31 OC440502core:RetainedEarningsAccumulatedLosses2023-03-31 OC440502business:SmallEntities2023-04-012024-03-31 OC440502countries:EnglandWales2023-04-012024-03-31 OC4405022022-04-012023-03-31 iso4217:GBP xbrli:pure
Registered No. OC440502 (England and Wales)
Turner Partners LLP Unaudited accounts for the year ended 31 March 2024
Turner Partners LLP LLP Information for the year ended 31 March 2024
Designated members
Mr Brian Turner
Mr Gareth Turner
Registered Number
OC440502 (England and Wales)
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
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Turner Partners LLP Accountants' report
Accountants' report to the members of Turner Partners LLP on the preparation of the unaudited statutory financial statements for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turner Partners LLP for the year ended 31 March 2024 as set out on pages 4 - 5 from the LLP's accounting records and from information and explanations you have given us.
This report is made solely to the members of Turner Partners LLP, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Turner Partners LLP and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turner Partners LLP and its members as a body for our work or for this report.
It is your duty to ensure that Turner Partners 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 Turner Partners LLP. You consider that Turner Partners 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 Turner Partners 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.
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH 2 October 2024
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Turner Partners LLP Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
770,000 
307,789 
Current assets
Debtors
- 
8,000 
Cash at bank and in hand
1,712 
2,369 
1,712 
10,369 
Creditors: amounts falling due within one year
(533)
(286)
Net current assets
1,179 
10,083 
Net assets attributable to members
771,179 
317,872 
Represented by:
Members' other interests
Members' capital classified as equity
373,462 
302,281 
Revaluation reserve
462,211 
- 
Other reserves
(64,494)
15,591 
771,179 
317,872 
771,179 
317,872 
Total members' interests
Members' other interests
771,179 
317,872 
771,179 
317,872 
For the year 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 accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 2 October 2024.
Mr Gareth Turner Designated member Limited Liability Partnership Registration No. OC440502
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Turner Partners LLP Notes to the Accounts for the year ended 31 March 2024
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
2
Statutory information
Turner Partners LLP is a limited liability partnership, incorporated in England and Wales, registration number OC440502.
3
Investment property
2024 
£ 
Fair value at 1 April 2023
307,789 
Net gain from fair value adjustments
462,211 
At 31 March 2024
770,000 
4
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
86 
Other creditors
283 
- 
Accruals
250 
200 
533 
286 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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