Registered number
OC356747
Anthony G Thorne LLP
Filleted Accounts
31 March 2024
Anthony G Thorne LLP
Registered number: OC356747
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,000 2,000
Tangible assets 4 33,606 40,493
34,606 42,493
Current assets
Debtors 5 12,468 7,690
Cash at bank and in hand 21,470 48,468
33,938 56,158
Creditors: amounts falling due within one year 6 647 (269)
Net current assets 34,585 55,889
Total assets less current liabilities 69,191 98,382
Net assets attributable to members 69,191 98,382
Represented by:
Loans and other debts due to members 7 (27,105) 16,652
Members' other interests
Other reserves 96,296 81,730
69,191 98,382
Total members' interests
Loans and other debts due to members 7 (27,105) 16,652
Members' other interests 96,296 81,730
69,191 98,382
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 20 October 2024 and signed on their behalf by:
A G Thorne
Designated member
Anthony G Thorne 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 sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings are not depreciated
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 5,000
At 31 March 2024 5,000
Amortisation
At 1 April 2023 3,000
Provided during the year 1,000
At 31 March 2024 4,000
Net book value
At 31 March 2024 1,000
At 31 March 2023 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 9,680 6,607 38,515 54,802
Additions - 1,440 - 1,440
At 31 March 2024 9,680 8,047 38,515 56,242
Depreciation
At 1 April 2023 - 6,606 7,703 14,309
Charge for the year - 624 7,703 8,327
At 31 March 2024 - 7,230 15,406 22,636
Net book value
At 31 March 2024 9,680 817 23,109 33,606
At 31 March 2023 9,680 1 30,812 40,493
5 Debtors 2024 2023
£ £
Trade debtors 12,121 7,690
Other debtors 347 -
12,468 7,690
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (92) 144
Other creditors (555) 125
(647) 269
7 Loans and other debts due to members 2024 2023
£ £
Loans from members 32,196 30,116
Retirement benefit liabilities in respect of current members (1,595) (1,595)
Amounts due to members in respect of profits (57,706) (11,869)
(27,105) 16,652
Amounts falling due within one year (27,105) 16,652
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Anthony G Thorne LLP is a limited liability partnership incorporated in England. Its registered office is:
43 Mornington Road
Chingford
London
E4 7DT
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