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Registration number: OC397378

A & M Milnes LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

A & M Milnes LLP

Contents

Financial Statements

1 to 4

Balance Sheet

1

Notes to the Financial Statements

3

 

A & M Milnes LLP

(Registration number: OC397378)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

3

934,366

952,916

Current assets

 

Debtors

4

70,000

70,001

Cash and short-term deposits

 

226,133

161,276

 

296,133

231,277

Creditors: Amounts falling due within one year

5

(39,602)

-

Net current assets

 

256,531

231,277

Total assets less current liabilities

 

1,190,897

1,184,193

Creditors: Amounts falling due after more than one year

6

(422,691)

(735,995)

Net assets attributable to members

 

768,206

448,198

Represented by:

 

Total members' interests

 

Equity

 

768,206

448,198

   

768,206

448,198

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of A & M Milnes LLP (registered number OC397378) were approved by the Board and authorised for issue on 25 September 2024. They were signed on behalf of the limited liability partnership by:

 

A & M Milnes LLP

(Registration number: OC397378)
Balance Sheet as at 31 March 2024

.........................................
A J Milnes
Designated member

 

A & M Milnes LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A
- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible fixed assets

Tangible fixed assets are stated at cost or fair value, net of depreciation any provision for impairment.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Land and Buildings

2% straight line

Plant and machinery

15% reducing balance

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 4 (2023 - 4).

 

A & M Milnes LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Tangible fixed assets

Freehold land and buildings
£

Plant and machinery
 £

Total
£

Cost

At 1 April 2023

951,695

198,305

1,150,000

At 31 March 2024

951,695

198,305

1,150,000

Depreciation

At 1 April 2023

62,347

134,737

197,084

Charge for the year

9,014

9,536

18,550

At 31 March 2024

71,361

144,273

215,634

Net book value

At 31 March 2024

880,334

54,032

934,366

At 31 March 2023

889,348

63,568

952,916

4

Debtors

2024
£

2023
£

Other debtors

70,000

70,001

Total current trade and other debtors

70,000

70,001

5

Creditors: Amounts falling due within one year

2024
£

Bank loans and overdrafts

39,602

6

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

422,691

735,995