Limited Liability Partnership registration number OC416730 (England and Wales)
E C SURVEYORS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
E C SURVEYORS LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr E J Chamberlain
Mrs A Chamberlain
LLP registration number
OC416730
Registered office
30 Fore Street
Totnes
Devon
TQ9 5RP
Accountants
Darnells Chartered Accountants
30 Fore Street
Totnes
Devon
TQ9 5RP
Business address
13 Down View Road
Denbury
Newton Abbot
TQ12 6ER
E C SURVEYORS LLP
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 6
E C SURVEYORS LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF E C SURVEYORS LLP FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E C Surveyors LLP for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the limited liability partnership’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 at https://www.icaew.com/regulation.

This report is made solely to the limited liability partnership's members of E C Surveyors LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of E C Surveyors LLP and state those matters that we have agreed to state to the limited liability partnership's members of E C Surveyors LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E C Surveyors LLP and its members as a body, for our work or for this report.

It is your duty to ensure that E C Surveyors 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 E C Surveyors LLP. You consider that E C Surveyors LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of E C Surveyors 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.

Darnells Chartered Accountants
30 Fore Street
Totnes
Devon
TQ9 5RP
E C SURVEYORS LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,279
2,872
Current assets
Debtors
4
7,228
4,526
Cash at bank and in hand
2,440
1,956
9,668
6,482
Creditors: amounts falling due within one year
5
(8,481)
(5,750)
Net current assets
1,187
732
Total assets less current liabilities
19,466
3,604
Creditors: amounts falling due after more than one year
6
(17,436)
(8,667)
Net assets/(liabilities) attributable to members
2,030
(5,063)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
2,030
(5,063)
2,030
(5,063)

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 15 October 2024 and are signed on their behalf by:
15 October 2024
Mr E J Chamberlain
Mrs A Chamberlain
Designated member
Designated Member
Limited Liability Partnership registration number OC416730 (England and Wales)
E C SURVEYORS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

E C Surveyors LLP is a limited liability partnership incorporated in England and Wales. The registered office is 30 Fore Street, Totnes, Devon, TQ9 5RP.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights 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 section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

E C SURVEYORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line basis
Motor vehicles
20% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average number of persons employed by the partnership during the year was 2 (2023: 2):

2024
2023
Number
Number
Total
2
2
E C SURVEYORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
7,849
Additions
20,356
At 31 March 2024
28,205
Depreciation and impairment
At 1 April 2023
4,977
Depreciation charged in the year
4,949
At 31 March 2024
9,926
Carrying amount
At 31 March 2024
18,279
At 31 March 2023
2,872
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,945
-
Other debtors
5,283
4,526
7,228
4,526
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,020
4,000
Trade creditors
-
100
Other creditors
4,461
1,650
8,481
5,750
E C SURVEYORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,647
8,667
Other creditors
12,789
-
17,436
8,667
7
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.

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