REGISTERED NUMBER: |
EWBANK'S LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 SEPTEMBER 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
EWBANK'S LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 SEPTEMBER 2023 TO 31 MARCH 2024 |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 September 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
EWBANK'S LLP |
GENERAL INFORMATION |
for the period 1 September 2023 to 31 March 2024 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Thorncroft Manor |
Thorncroft Drive |
Leatherhead |
Surrey |
KT22 8JB |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 145,382 | 160,451 |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
BALANCE SHEET - continued |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
74,132 |
89,451 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 71,250 | 71,000 |
145,382 | 160,451 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 74,132 | 89,451 |
Members' other interests | 71,250 | 71,000 |
Amounts due from members | 6 | (88,421 | ) | (104,679 | ) |
56,961 | 55,772 |
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. |
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 Profit and Loss Account has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 September 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Ewbank's 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 |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention unless otherwise stated below. |
Turnover |
Revenue is measured as the fair value of consideration receivable for the supply of auction services excluding discounts, rebates and value added tax. |
Goodwill |
Goodwill relates to the purchase of a business in prior years which has been transferred to the LLP on incorporation at 1 September 2016. This goodwill has been amortised over 5 years from the date of incorporation. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date. |
On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses. |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price, including transaction cost. The LLP has no financial assets at fair value through profit or loss. All subsequent remeasurement of financial assets and liabilities are recognised at amortised cost. The LLP has no non-basic financial instruments. |
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. |
Members remuneration |
Remuneration paid under a contractual arrangement has been charged against profits in the year as "Members remuneration charged as an expense". |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals payable under operating leases are charged to profit and loss on a straight line basis over the lease term. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 September 2023 |
and 31 March 2024 |
Amortisation |
At 1 September 2023 |
and 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 August 2023 |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2023 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 September 2023 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 September 2023 |
Charge for period |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 August 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Included within other debtors is £88,421 (2023: £104,679) due from members. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
The aggregate amount of creditors falling due within one year for which security has been given amounts to £27,368 (2023: £19,842). |
There is a fixed and floating charge over the assets of the LLP as security for the bank loan. |
The hire purchase contracts are secured over the assets to which they relate. |
EWBANK'S LLP (REGISTERED NUMBER: OC413431) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 September 2023 to 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 159,235 | 207,882 |
The aggregate amount of creditors falling due after more than one year for which security has been given amounts to £259,177 (2023: £281,639). |
There is a fixed and floating charge over the assets of the LLP as security for the bank loan. |
The hire purchase contracts are secured over the assets to which they relate. |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 74,132 | 89,451 |
Falling due within one year | 74,132 | 89,451 |
In the event of winding up, the amounts included in 'Loans and other debts due to members' will rank below unsecured creditors. Individual members' capital contributions are not repayable until the member retires from the LLP. |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
EWBANK'S LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Ewbank's LLP for the period ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Ewbank's LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ewbank's LLP and state those matters that we have agreed to state to the members of Ewbank's LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ewbank's LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Ewbank's LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ewbank's LLP. You consider that Ewbank's LLP is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Ewbank's LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Thorncroft Manor |
Thorncroft Drive |
Leatherhead |
Surrey |
KT22 8JB |