REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Keaney Whitehead Partnership LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Keaney Whitehead Partnership LLP |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Keaney Whitehead Partnership LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
G White |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3rd Floor Pacific Chambers |
11-13 Victoria Street |
Liverpool |
Merseyside |
L2 5QQ |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
267,429 |
224,594 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
257,429 |
214,594 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 10,000 | 10,000 |
267,429 | 224,594 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 257,429 | 214,594 |
Members' other interests | 10,000 | 10,000 |
267,429 | 224,594 |
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. |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Keaney Whitehead Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings - straight line over 3 years |
Computer equipment - straight line over 5 years |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Revenue recognition |
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when , and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration , which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. |
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations . For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments in excess of the relevant amount of revenue are included in creditors. |
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs. |
Capital |
The capital requirements of the partnership are determined by the members. Each member is required to subscribe to a proportion of this capital. No interest is paid on capital. On leaving the partnership, a member's capital is repaid according to the arrangements in the partnership agreement. Members' capital has been classified as debt in accordance with the requirements of the SORP. |
Taxation |
The taxation payable on the LLP's profits is a personal liability of the members during the year . Retention from profits earned up to the balance sheet date is made to fund payment of taxation on members' behalf. |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
Keaney Whitehead Partnership LLP (Registered number: OC337965) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed to members in respect of profits | 257,429 | 214,594 |
Falling due within one year | 257,429 | 214,594 |
The LLP is classed as a Small Entity with no requirement to rank the above in relation to other creditors. |
9. | TRANSACTIONS WITH MEMBERS |
The partnership was under the control of the members throughout the year. |
10. | MEMBERS AND UNSECURED CREDITORS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. |