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REGISTERED NUMBER: OC344884 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST MAY 2023 TO 31ST MARCH 2024

FOR

SOUTHERN BUSINESS ADVISERS LLP

SOUTHERN BUSINESS ADVISERS LLP (REGISTERED NUMBER: OC344884)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2023 TO 31ST MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 3


SOUTHERN BUSINESS ADVISERS LLP (REGISTERED NUMBER: OC344884)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors: amounts falling due within one year 5 443,243 376,688
Cash at bank 127 11,451
443,370 388,139
CREDITORS
Amounts falling due within one year 6 260,870 212,072
NET CURRENT ASSETS 182,500 176,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,500

176,067

CREDITORS
Amounts falling due after more than one year 7 12,500 21,667
NET ASSETS ATTRIBUTABLE TO
MEMBERS

170,000

154,400

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

170,000

154,400

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 170,000 154,400

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31st March 2024.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 10th October 2024 and were signed by:





Mr G R Lovell - Designated member

SOUTHERN BUSINESS ADVISERS LLP (REGISTERED NUMBER: OC344884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST MAY 2023 TO 31ST MARCH 2024


1. STATUTORY INFORMATION

Southern Business Advisers LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC344884

Registered office: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services provided is recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEE INFORMATION

The average number of employees during the period was 57 (2023 - 46 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 435,139 321,873
Other debtors - 42,833
Prepayments and accrued income 8,104 11,982
443,243 376,688

SOUTHERN BUSINESS ADVISERS LLP (REGISTERED NUMBER: OC344884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST MAY 2023 TO 31ST MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,371 9,141
Social security and other taxes 31,885 35,042
VAT 171,916 138,941
Other creditors 42,698 18,948
260,870 212,072

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 12,500 21,667

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 170,000 154,400

Falling due within one year 170,000 154,400

Members' loans and other debts rank pari passu with unsecured creditors in the event of a winding up.

9. RELATED PARTY DISCLOSURES

The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with any party to the transaction with wholly owned subsidiaries within the group or where transactions have been undertaken under normal market conditions.

During the year the LLP is not controlled by any one individual or entity.