Laureate Estates LLP OC334173 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is storage solutions. Digita Accounts Production Advanced 6.30.9574.0 OC334173 2023-02-01 2024-01-31 OC334173 2024-01-31 OC334173 core:CurrentFinancialInstruments 2024-01-31 OC334173 core:WithinOneYear 2024-01-31 OC334173 core:FurnitureFittings 2024-01-31 OC334173 core:PlantMachinery 2024-01-31 OC334173 bus:SmallEntities 2023-02-01 2024-01-31 OC334173 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 OC334173 bus:FullAccounts 2023-02-01 2024-01-31 OC334173 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 OC334173 bus:RegisteredOffice 2023-02-01 2024-01-31 OC334173 bus:PartnerLLP1 2023-02-01 2024-01-31 OC334173 bus:PartnerLLP2 2023-02-01 2024-01-31 OC334173 bus:LimitedLiabilityPartnershipLLP 2023-02-01 2024-01-31 OC334173 bus:Agent1 2023-02-01 2024-01-31 OC334173 core:FurnitureFittings 2023-02-01 2024-01-31 OC334173 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 OC334173 core:PlantMachinery 2023-02-01 2024-01-31 OC334173 countries:AllCountries 2023-02-01 2024-01-31 OC334173 2023-01-31 OC334173 core:FurnitureFittings 2023-01-31 OC334173 core:PlantMachinery 2023-01-31 OC334173 2022-02-01 2023-01-31 OC334173 2023-01-31 OC334173 core:CurrentFinancialInstruments 2023-01-31 OC334173 core:WithinOneYear 2023-01-31 OC334173 core:FurnitureFittings 2023-01-31 OC334173 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: OC334173

Laureate Estates LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Laureate Estates LLP

Contents

Limited liability partnership information

1

Members' Report

2

Accountants' Report

3

Financial Statements

4 to 9

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

7

 

Laureate Estates LLP

Limited liability partnership information

Designated members

Mr D B Murton

Mr N P Murton
 

Registered office

Baden-Croft
Falmouth Avenue
Newmarket
Suffolk
CB8 0BN

Accountants

N W Accountancy Limited
7 Laureate Paddocks
Newmarket
Suffolk
CB8 0AP

 

Laureate Estates LLP

Members' Report for the Year Ended 31 January 2024

The members present their report and the unaudited financial statements for the year ended 31 January 2024.

Designated members

The members who held office during the year were as follows:

Mr D B Murton

Mr N P Murton

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.

Approved by the Board on 31 October 2024 and signed on its behalf by:

.........................................
Mr D B Murton
Designated member

.........................................
Mr N P Murton
Designated member

 

Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Laureate Estates LLP
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Laureate Estates LLP for the year ended 31 January 2024 set out on pages 4 to 9 from the limited liability partnership's accounting records and from information and explanations you have given us.

It is your duty to ensure that Laureate Estates LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Laureate Estates LLP. You consider that Laureate Estates 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 accounts of Laureate Estates 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 accounts.

......................................

N W Accountancy Limited
7 Laureate Paddocks
Newmarket
Suffolk
CB8 0AP

31 October 2024

 

Laureate Estates LLP

Profit and Loss Account for the Year Ended 31 January 2024

Note

Total
2024
£

Total
2023
£

Turnover

246,863

249,733

Cost of sales

 

-

(161)

Gross profit

 

246,863

249,572

Administrative expenses

 

(124,918)

(117,490)

Operating profit

2

121,945

132,082

Interest payable and similar expenses

(503)

(678)

Profit for the year before members' remuneration and profit shares

 

121,442

131,404

Members' remuneration charged as an expense

 

(121,442)

(131,404)

Profit/(loss) for the year available for discretionary division among members

 

-

-

Turnover and operating profit derive wholly from continuing operations.

The limited liability partnership has no recognised gains or losses for the year other than the results above.

 

Laureate Estates LLP

(Registration number: OC334173)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,271

38,948

Current assets

 

Debtors

5

17,257

15,051

Cash and short-term deposits

 

130,720

138,309

 

147,977

153,360

Creditors: Amounts falling due within one year

6

(68,578)

(70,197)

Net current assets

 

79,399

83,163

Net assets attributable to members

 

108,670

122,111

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

108,670

122,111

   

108,670

122,111

Total members' interests

 

Loans and other debts due to members

 

108,670

122,111

   

108,670

122,111

For the year ending 31 January 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’.

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 Laureate Estates LLP (registered number OC334173) were approved by the Board and authorised for issue on 31 October 2024. They were signed on behalf of the limited liability partnership by:

 

Laureate Estates LLP

(Registration number: OC334173)
Balance Sheet as at 31 January 2024

.........................................
Mr D B Murton
Designated member

.........................................
Mr N P Murton
Designated member

 

Laureate Estates LLP

Notes to the Financial Statements for the Year Ended 31 January 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 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.

The functional currency of Laureate Estates LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Laureate Estates LLP

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

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

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

Plant and machinery

25% reducing balance

Furniture, fittings and equipment

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation

9,666

12,923

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 1 (2023 - 1).

 

Laureate Estates LLP

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

4

Tangible fixed assets

Plant and machinery
 £

Fixtures and fittings
 £

Total
£

Cost

At 1 February 2023

220,090

1,212

221,302

Additions

1,010

-

1,010

Disposals

(1,325)

-

(1,325)

At 31 January 2024

219,775

1,212

220,987

Depreciation

At 1 February 2023

181,436

918

182,354

Charge for the year

9,593

73

9,666

Eliminated on disposals

(304)

-

(304)

At 31 January 2024

190,725

991

191,716

Net book value

At 31 January 2024

29,050

221

29,271

At 31 January 2023

38,654

294

38,948

5

Debtors

2024
£

2023
£

Trade debtors

10,881

10,307

Other debtors

-

4

Prepayments and accrued income

6,376

4,740

Total current trade and other debtors

17,257

15,051

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Bank loans and overdrafts

16,333

23,333

Trade creditors

12,501

8,098

Other creditors

31,771

30,420

Accruals and deferred income

3,294

2,421

Taxation and social security

4,679

5,925

68,578

70,197