Registered No. OC343678 (England and Wales)
Gentle Mathias LLP
Unaudited accounts
for the year ended 31 March 2024
Gentle Mathias LLP
LLP Information
for the year ended 31 March 2024
Designated members
Mr Nathan Edwards
Registered Number
OC343678 (England and Wales)
Registered Office
59 Charlotte Street
London
W1T 4PE
Accountants
WCSL Chartered Accountants
5 Wieland Road
Northwood
Middx
HA6 3RD
Gentle Mathias LLP
Statement of financial position
as at 31 March 2024
Tangible assets
25,278
43,672
Cash at bank and in hand
454,902
463,903
Creditors: amounts falling due within one year
(202,994)
(191,757)
Net current assets
714,464
697,842
Net assets attributable to members
739,742
741,514
Loans and other debts due to members
739,742
741,514
Loans and other debts due to members
739,742
741,514
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 10 October 2024.
Mr Robert Page
Designated member
Limited Liability Partnership Registration No. OC343678
Gentle Mathias LLP
Notes to the Accounts
for the year ended 31 March 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover represents amounts receivable for services net of VAT.
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amount chargeable to the clients.
Fee income that is contingent on events outside the control of the LLP is recognised when the contingent event occurs.
Members' participating interests
Members' participating 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).
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10 years straight line
Fixtures & fittings
20% reducing balance
Computer equipment
25% on cost
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instruments.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Rental payable under operating leases are charged to the profit and loss account on a straight line basis over the life of the lease.
Gentle Mathias LLP
Notes to the Accounts
for the year ended 31 March 2024
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
The LLP holds Client monies in the client bank accounts which has not been stated in these accounts because they represents amounts not beneficially belonging to the LLP and are not included in the balance sheet.
Gentle Mathias LLP is a limited liability partnership, incorporated in England and Wales, registration number OC343678. Its registered office is 59 Charlotte Street, London, W1T 4PE.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
15,918
139,370
155,288
At 31 March 2024
15,918
139,370
155,288
At 1 April 2023
8,358
103,258
111,616
Charge for the year
1,952
16,442
18,394
At 31 March 2024
10,310
119,700
130,010
At 31 March 2024
5,608
19,670
25,278
At 31 March 2023
7,560
36,112
43,672
4
Creditors: amounts falling due within one year
2024
2023
Trade creditors
49,635
18,644
Taxes and social security costs
55,741
75,830
Other creditors
52,149
88,739
5
Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
739,742
741,514
Amounts falling due within one year
739,742
741,514
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 10 (2023: 10).