Registered number
OC326201
Sheppard Architects LLP
Filleted Accounts
31 March 2024
Sheppard Architects LLP
LLP Information
Designated members
Charles Sheppard
Kyra Sheppard
Accountants
J W Grogan
95 Headstone Lane
Harrow
Middlesex
HA2 6JL
Registered office
54 Warrington Road
Harrow
Middlesex
HA1 1SY
Registered number
OC326201
Sheppard Architects LLP
Registered number: OC326201
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,479 21,972
Investments 4 5,940 5,940
22,419 27,912
Current assets
Cash at bank and in hand 992 1,361
Creditors: amounts falling due within one year 5 (2,401) (1,200)
Net current (liabilities)/assets (1,409) 161
Total assets less current liabilities 21,010 28,073
Net assets attributable to members 21,010 28,073
Represented by:
Members' other interests
Members' capital classified as equity 21,010 28,073
21,010 28,073
Total members' interests
Members' other interests 21,010 28,073
21,010 28,073
For the year 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 3 June 2024 and signed on their behalf by:
C Sheppard
Designated member
Sheppard Architects 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.
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Computer equipment over 3 years
Fixtures and fittings over 4 years
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of work in progress sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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 2023
Number Number
Average number of persons employed by the LLP - 1
3 Tangible fixed assets
Office Furniture Computer Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 5,144 17,992 21,628 44,764
At 31 March 2024 5,144 17,992 21,628 44,764
Depreciation
At 1 April 2023 5,143 17,649 - 22,792
Charge for the year - 86 5,407 5,493
At 31 March 2024 5,143 17,735 5,407 28,285
Net book value
At 31 March 2024 1 257 16,221 16,479
At 31 March 2023 1 343 21,628 21,972
4 Fixed asset investments
Other
investments
£
Cost
At 1 April 2023 5,940
At 31 March 2024 5,940
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors - accruals 2,401 1,200
6 Other information
Sheppard Architects LLP is a limited liability partnership incorporated in England. Its registered office is:
54 Warrington Road
Harrow
Middlesex
HA1 1SY
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