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Registration number: OC333252

Carter Lemon Camerons LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Carter Lemon Camerons LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 7

Balance Sheet

2

Notes to the Financial Statements

4

 

Carter Lemon Camerons LLP

Limited liability partnership information

Designated members

Mr R T Ballaster

Mr A J L Firman

Mrs L Ginesi

Mr C E Picardo

Mr J S S Smyth

Mr I R West

Mr R Sookias
 

Registered office

3rd Floor
20 King Street
London
EC2V 8EG

Accountants

Blitz Gooday Ltd
Chartered Certified Accountants
62 Queens Road
Buckhurst Hill
IG9 5BY

 

Carter Lemon Camerons LLP

(Registration number: OC333252)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

54,004

57,302

Current assets

 

Debtors

4

1,886,634

1,518,064

Cash and short-term deposits

 

2,492

8,651

 

1,889,126

1,526,715

Creditors: Amounts falling due within one year

5

(1,211,440)

(918,058)

Net current assets

 

677,686

608,657

Total assets less current liabilities

 

731,690

665,959

Creditors: Amounts falling due after more than one year

6

-

(70,341)

Net assets attributable to members

 

731,690

595,618

Represented by:

 

Loans and other debts due to members

 

Other amounts

7

527,683

391,611

Members’ other interests

 

Members' capital classified as equity

 

204,007

204,007

   

731,690

595,618

Total members' interests

 

Loans and other debts due to members

 

527,683

391,611

Equity

 

204,007

204,007

   

731,690

595,618

 

Carter Lemon Camerons LLP

(Registration number: OC333252)
Balance Sheet as at 31 March 2024

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Carter Lemon Camerons LLP (registered number OC333252) were approved by the Board and authorised for issue on 1 October 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr A J L Firman
Designated member

 

Carter Lemon Camerons LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention.

The functional currency of Carter Lemon Camerons LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

Members' shares of profits are automatically allocated and are treated as members' remuneration charged as an expense to the profit and loss account. Any undrawn profits at the year end date are classified as liabilities and included within 'Loans and other debts due to members'.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

 

Carter Lemon Camerons LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Leasehold Improvements

Over the term of the lease

Plant, equipment and fixtures

Between 2 and 5 years on straight line basis

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash at bank and in hand comprise cash and credit bank balances. Bank overdrafts are shown within borrowings in current liabilities.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Members' interests

Members' interests in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity in accordance with the SORP.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 29 (2023 - 26).

 

Carter Lemon Camerons LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Tangible fixed assets

Short leasehold land and buildings
£

Plant and machinery
 £

Total
£

Cost

At 1 April 2023

62,766

55,758

118,524

Additions

-

7,099

7,099

At 31 March 2024

62,766

62,857

125,623

Depreciation

At 1 April 2023

8,202

53,019

61,221

Charge for the year

6,296

4,102

10,398

At 31 March 2024

14,498

57,121

71,619

Net book value

At 31 March 2024

48,268

5,736

54,004

At 31 March 2023

54,563

2,739

57,302

4

Debtors

2024
£

2023
£

Trade debtors

986,888

844,713

Other debtors

541,472

505,737

Prepayments and accrued income

358,274

167,614

Total current trade and other debtors

1,886,634

1,518,064

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Bank loans and overdrafts

560,905

418,273

Trade creditors

117,926

89,159

Other creditors

189,199

24,434

Accruals and deferred income

194,327

238,861

Taxation and social security

149,083

147,331

1,211,440

918,058

6

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

-

70,341

 

Carter Lemon Camerons LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Analysis of other amounts

2024
£

2023
£

Money owed to members by the LLP in respect of profits

517,683

391,611

Other amounts

10,000

-

527,683

391,611

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £454,746 (2023 - £563,817).

9

Loans and other debts due to members

In the event of a winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.