Registered number
OC446339
Acheson & Brown LLP
Filleted Accounts
31 March 2024
Acheson & Brown LLP
Registered number: OC446339
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Investments 3 194,072
Current assets
Cash at bank and in hand 4,462
Net current assets 4,462
Total assets less current liabilities 198,534
Net assets attributable to members 198,534
Represented by:
Loans and other debts due to members 4 2,000
Members' other interests
Members' capital classified as equity 196,093
Other reserves 441
196,534
198,534
Total members' interests
Loans and other debts due to members 4 2,000
Members' other interests 196,534
198,534
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 22 July 2024 and signed on their behalf by:
Helen Brown
Designated member
Acheson & Brown LLP
Notes to the Accounts
for the period from 16 March 2023 to 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Investments
Investments in properties and joint ventures are measured at cost including acquisition costs less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024
Number
Average number of persons employed by the LLP 0
3 Fixed asset investments
Other
investments
£
Cost
Additions 194,072
At 31 March 2024 194,072
4 Loans and other debts due to members 2024
£
Loans from members 2,000
Amounts falling due within one year 2,000
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
5 Other information
Acheson & Brown LLP is a limited liability partnership incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
Merseyside
CH44 4BT
Acheson & Brown LLP OC446339 false 2023-03-16 2024-03-31 2024-03-31 VT Final Accounts April 2024 Helen Brown No description of principal activity OC446339 2023-03-16 2024-03-31 OC446339 bus:LimitedLiabilityPartnershipLLP 2023-03-16 2024-03-31 OC446339 bus:AuditExemptWithAccountantsReport 2023-03-16 2024-03-31 OC446339 bus:PartnerLLP20 2023-03-16 2024-03-31 OC446339 3 2023-03-16 2024-03-31 OC446339 1 2023-03-16 2024-03-31 OC446339 2 2023-03-16 2024-03-31 OC446339 4 2023-03-16 2024-03-31 OC446339 countries:England 2023-03-16 2024-03-31 OC446339 bus:FRS102 2023-03-16 2024-03-31 OC446339 bus:FilletedAccounts 2023-03-16 2024-03-31 OC446339 2024-03-31 OC446339 1 2024-03-31 OC446339 core:ShareCapital 2024-03-31 OC446339 core:RetainedEarningsAccumulatedLosses 2024-03-31 OC446339 2023-03-15 iso4217:GBP xbrli:pure