Silverfin false 31/03/2024 01/05/2023 31/03/2024 P C Sutton 04/07/2001 J M Capel 01/10/2003 S R Heaver 01/10/2003 HSP Buildings Limited 01/01/2013 18 October 2024 OC300382 2024-03-31 OC300382 bus:Director1 2024-03-31 OC300382 bus:Director2 2024-03-31 OC300382 bus:Director3 2024-03-31 OC300382 bus:Director4 2024-03-31 OC300382 2023-04-30 OC300382 core:CurrentFinancialInstruments 2024-03-31 OC300382 core:CurrentFinancialInstruments 2023-04-30 OC300382 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-30 OC300382 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-03-31 OC300382 core:LeaseholdImprovements 2023-04-30 OC300382 core:Vehicles 2023-04-30 OC300382 core:FurnitureFittings 2023-04-30 OC300382 core:OtherPropertyPlantEquipment 2023-04-30 OC300382 core:LeaseholdImprovements 2024-03-31 OC300382 core:Vehicles 2024-03-31 OC300382 core:FurnitureFittings 2024-03-31 OC300382 core:OtherPropertyPlantEquipment 2024-03-31 OC300382 2023-05-01 2024-03-31 OC300382 bus:FullAccounts 2023-05-01 2024-03-31 OC300382 bus:SmallEntities 2023-05-01 2024-03-31 OC300382 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 OC300382 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC300382 bus:Director1 2023-05-01 2024-03-31 OC300382 bus:Director2 2023-05-01 2024-03-31 OC300382 bus:Director3 2023-05-01 2024-03-31 OC300382 bus:Director4 2023-05-01 2024-03-31 OC300382 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-05-01 2024-03-31 OC300382 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-03-31 OC300382 core:Vehicles 2023-05-01 2024-03-31 OC300382 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-03-31 OC300382 core:FurnitureFittings 2023-05-01 2024-03-31 OC300382 core:OtherPropertyPlantEquipment 2023-05-01 2024-03-31 OC300382 2022-05-01 2023-04-30 OC300382 core:LeaseholdImprovements 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC300382 (England and Wales)

HARRISON SUTTON PARTNERSHIP LLP

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

HARRISON SUTTON PARTNERSHIP LLP

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

HARRISON SUTTON PARTNERSHIP LLP

BALANCE SHEET

As at 31 March 2024
HARRISON SUTTON PARTNERSHIP LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Tangible assets 5 66,776 59,690
66,776 59,690
Current assets
Debtors 6 83,762 81,616
Cash at bank and in hand 469,695 637,799
553,457 719,415
Creditors: amounts falling due within one year 7 ( 187,212) ( 226,033)
Net current assets 366,245 493,382
Total assets less current liabilities 433,021 553,072
Net assets attributable to members 433,021 553,072
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 432,796 552,847
432,796 552,847
Members' other interests
Members' capital classified as equity 225 225
225 225
433,021 553,072
Total members' interests
Loans and other debts due to members 432,796 552,847
Members' other interests 225 225
433,021 553,072

For the financial period ending 31 March 2024 the LLP 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.

Members' responsibilities:

The financial statements of Harrison Sutton Partnership LLP (registered number: OC300382) were approved and authorised for issue by the Board of Directors on 18 October 2024. They were signed on its behalf by:

P C Sutton
Designated member
HARRISON SUTTON PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
HARRISON SUTTON PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harrison Sutton Partnership LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Little Priory Court, Fore Street, Totnes, TQ9 5NJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The members have shortened the partnership's accounting period by 1 month. This change has been made in order to ease the administrative burden of accounting for the members' tax positions.

Turnover

The turnover shown in the Profit and Loss Account represents work done during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Employee benefits

Defined contribution schemes
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line
20 % reducing balance
Other property, plant and equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Members' participation rights

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities as the LLP does have an unconditional right to refuse payment to members.

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

Recognition and Measurement

The LLP has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the LLP becomes party to the contractual provisions of the instrument and derecognise when in the case of the assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the LLP's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after account of impairment adjustments.

Members' remuneration and division of profits

Profits are automatically available for division between members. They are therefore shown as "Members remuneration charged as an expense" in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as "loans and other debts due to members" in the Balance Sheet.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the LLP during the period 19 20

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

31.03.2024 30.04.2023
Number Number
Average number of members during the financial period 4 4

4. Intangible assets

Website costs Total
£ £
Cost
At 01 May 2023 3,200 3,200
At 31 March 2024 3,200 3,200
Accumulated amortisation
At 01 May 2023 3,200 3,200
At 31 March 2024 3,200 3,200
Net book value
At 31 March 2024 0 0
At 30 April 2023 0 0

5. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 May 2023 28,191 58,699 130,601 15,281 232,772
Additions 0 25,000 13,648 0 38,648
Disposals 0 0 ( 2,510) 0 ( 2,510)
At 31 March 2024 28,191 83,699 141,739 15,281 268,910
Accumulated depreciation
At 01 May 2023 21,166 31,986 105,267 14,663 173,082
Charge for the financial period 1,561 12,929 17,063 8 31,561
Disposals 0 0 ( 2,509) 0 ( 2,509)
At 31 March 2024 22,727 44,915 119,821 14,671 202,134
Net book value
At 31 March 2024 5,464 38,784 21,918 610 66,776
At 30 April 2023 7,025 26,713 25,334 618 59,690

6. Debtors

31.03.2024 30.04.2023
£ £
Trade debtors 18,583 15,988
Prepayments 23,179 25,628
Other debtors 42,000 40,000
83,762 81,616

7. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Trade creditors 2,136 11,406
Accruals 11,495 10,800
Other taxation and social security 56,609 79,689
Other creditors 116,972 124,138
187,212 226,033

8. Financial commitments

Commitments

31.03.2024 30.04.2023
£ £
Total future minimum lease payments under non-cancellable operating lease 436,800 66,800

The total financial commitments above represent non-cancellable operating leases in respect of property from which the limited liability partnership operates.