Silverfin false 31/03/2024 01/04/2023 31/03/2024 J E Chamberlain 21/03/2006 J E H Chamberlain 01/05/2021 Nailsworth Limited 01/05/2021 30 October 2024 OC318584 2024-03-31 OC318584 bus:Director1 2024-03-31 OC318584 bus:Director2 2024-03-31 OC318584 bus:Director3 2024-03-31 OC318584 2023-03-31 OC318584 core:CurrentFinancialInstruments 2024-03-31 OC318584 core:CurrentFinancialInstruments 2023-03-31 OC318584 core:PlantMachinery 2023-03-31 OC318584 core:Vehicles 2023-03-31 OC318584 core:FurnitureFittings 2023-03-31 OC318584 core:OtherPropertyPlantEquipment 2023-03-31 OC318584 core:PlantMachinery 2024-03-31 OC318584 core:Vehicles 2024-03-31 OC318584 core:FurnitureFittings 2024-03-31 OC318584 core:OtherPropertyPlantEquipment 2024-03-31 OC318584 core:CostValuation 2023-03-31 OC318584 core:DisposalsRepaymentsInvestments 2024-03-31 OC318584 core:CostValuation 2024-03-31 OC318584 2023-04-01 2024-03-31 OC318584 bus:FullAccounts 2023-04-01 2024-03-31 OC318584 bus:SmallEntities 2023-04-01 2024-03-31 OC318584 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC318584 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC318584 bus:Director1 2023-04-01 2024-03-31 OC318584 bus:Director2 2023-04-01 2024-03-31 OC318584 bus:Director3 2023-04-01 2024-03-31 OC318584 core:PlantMachinery 2023-04-01 2024-03-31 OC318584 core:Vehicles 2023-04-01 2024-03-31 OC318584 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 OC318584 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 OC318584 2022-04-01 2023-03-31 OC318584 core:FurnitureFittings 2023-04-01 2024-03-31 OC318584 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC318584 (England and Wales)

E. A. CHAMBERLAIN LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

E. A. CHAMBERLAIN LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

E. A. CHAMBERLAIN LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
E. A. CHAMBERLAIN LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 251,251 295,712
Investments 4 0 90,431
251,251 386,143
Current assets
Debtors 5 113,118 135,658
Cash at bank and in hand 78,886 23,802
192,004 159,460
Creditors: amounts falling due within one year 6 ( 54,086) ( 111,226)
Net current assets 137,918 48,234
Total assets less current liabilities 389,169 434,377
Net assets attributable to members 389,169 434,377
Represented by
Loans and other debts due to members within one year
Other amounts 389,169 434,377
389,169 434,377
Members' other interests
0 0
389,169 434,377
Total members' interests
Amounts due from members (included in debtors) (31,239) 0
Loans and other debts due to members 389,169 434,377
357,930 434,377

For the financial year 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:

E. A. Chamberlain LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of E. A. Chamberlain LLP (registered number: OC318584) were approved and authorised for issue by the Board of Directors on 30 October 2024. They were signed on its behalf by:

J E H Chamberlain
Designated member
E. A. CHAMBERLAIN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
E. A. CHAMBERLAIN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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

General information and basis of accounting

E. A. Chamberlain 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 Nailsworth Mills Estate, Avening Road, Nailsworth, GL6 0BS, 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 Statement of Financial Position 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 3 years straight line
Other property, plant and equipment 25 years straight line
Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Members' participation rights

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 FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 7 8

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2023 276,773 207,698 4,574 143,203 632,248
Additions 8,847 42,000 537 0 51,384
Disposals ( 57,657) ( 52,413) 0 0 ( 110,070)
At 31 March 2024 227,963 197,285 5,111 143,203 573,562
Accumulated depreciation
At 01 April 2023 213,241 97,446 3,850 21,999 336,536
Charge for the financial year 8,676 23,367 688 5,728 38,459
Disposals ( 24,970) ( 27,714) 0 0 ( 52,684)
At 31 March 2024 196,947 93,099 4,538 27,727 322,311
Net book value
At 31 March 2024 31,016 104,186 573 115,476 251,251
At 31 March 2023 63,532 110,252 724 121,204 295,712

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 90,431 90,431
Disposals ( 90,431) ( 90,431)
At 31 March 2024 0 0
Carrying value at 31 March 2024 0 0
Carrying value at 31 March 2023 90,431 90,431

5. Debtors

2024 2023
£ £
Trade debtors 30,087 31,443
Amounts owed by members 31,239 0
Prepayments and accrued income 45,274 36,479
VAT recoverable 6,118 67,736
Other debtors 400 0
113,118 135,658

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 15,369 69,789
Accruals and deferred income 36,837 39,466
Other taxation and social security 1,506 1,621
Other creditors 374 350
54,086 111,226

7. Securities

There are fixed and floating charges dated 19 October 2017 over the property or undertaking of the LLP.

8. 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.