REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1st January 2023 to 31st March 2024 |
for |
Philip Pank Partnership LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1st January 2023 to 31st March 2024 |
for |
Philip Pank Partnership LLP |
Philip Pank Partnership LLP (Registered number: OC437669) |
Contents of the Financial Statements |
for the Period 1st January 2023 to 31st March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Philip Pank Partnership LLP |
General Information |
for the Period 1st January 2023 to 31st March 2024 |
DESIGNATED MEMBERS: | L T Heyman |
P J Reilly |
T C Stalley |
D R Eldridge |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
34 - 35 Clarges Street |
Mayfair |
London |
W1J 7EJ |
Philip Pank Partnership LLP (Registered number: OC437669) |
Balance Sheet |
31st March 2024 |
31/3/24 | 31/12/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 2,334,862 | 3,072,823 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 9 | 2,334,862 | 3,072,823 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 2,334,862 | 3,072,823 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Philip Pank Partnership LLP (Registered number: OC437669) |
Notes to the Financial Statements |
for the Period 1st January 2023 to 31st March 2024 |
1. | STATUTORY INFORMATION |
Philip Pank Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in Pound Sterling which is the functional currency of the company. |
As previously recorded, the members of the LLP are satisfied that the relevant conditions for merger accounting within the SORP for LLPs were satisfied so that in the LLP's 2022 financial statements the net assets at 1 January 2022 from the unincorporated Philip Pank Partnership (the "Partnership") were introduced at their net book values and comparative results for the Partnership for the 12-month period to 31 December 2021 were included to be consistent and comparable with the LLP's financial statements. |
Turnover |
Turnover comprises revenue recognised by the LLP in respect of all services relating to quantity surveying, building surveying, party wall, construction, design and management(CDM) and site inspections undertaken during the year.Turnover is adjusted for amounts recoverable on contract and exclusive of value added tax. |
Tangible fixed assets |
Motor vehicles | - |
Computer equipment | - |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
Philip Pank Partnership LLP (Registered number: OC437669) |
Notes to the Financial Statements - continued |
for the Period 1st January 2023 to 31st March 2024 |
4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st January 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/12/22 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/12/22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/12/22 |
£ | £ |
Other creditors |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31/3/24 | 31/12/22 |
£ | £ |
Amounts falling due within one year or on demand: |
Loans |
Amounts falling due between one and two years: |
Loans | - |
Philip Pank Partnership LLP (Registered number: OC437669) |
Notes to the Financial Statements - continued |
for the Period 1st January 2023 to 31st March 2024 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31/3/24 | 31/12/22 |
£ | £ |
Amounts owed to members in respect of profits | 934,862 | 1,672,823 |
Capital account | 1,400,000 | 1,400,000 |
2,334,862 | 3,072,823 |
Falling due within one year | 2,334,862 | 3,072,823 |