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REGISTERED NUMBER: OC331885 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SIMON FENTON PARTNERSHIP LLP

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

General Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SIMON FENTON PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DESIGNATED MEMBERS: N I Abbott
I B Bryning
N D Stones
Simon Fenton Limited





REGISTERED OFFICE: 4 Burton Place
Castlefield
Manchester
M15 4PT





REGISTERED NUMBER: OC331885 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,579 4,022

CURRENT ASSETS
Debtors 5 269,971 412,066
Cash at bank 231,435 84,867
501,406 496,933
CREDITORS
Amounts falling due within one year 6 230,964 254,046
NET CURRENT ASSETS 270,442 242,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,021

246,909

CREDITORS
Amounts falling due after more than one
year

7

13,950

24,112
NET ASSETS ATTRIBUTABLE TO
MEMBERS

266,071

222,797

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

266,071

222,797

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 266,071 222,797

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

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.

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)

BALANCE SHEET - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 23rd October 2024 and were signed by:





I B Bryning - Designated member

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Simon Fenton 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the limited liability partnership's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
The following assets are classified as financial instruments - trade debtors, trade creditors, bank loans and members' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently at amortised cost using the effective interest method.

Members' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

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.

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Members' participating interests
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 section 22 of FRS 102. A members' participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors shown as amounts due from members within members' interests.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 68,817
Additions 9,330
Disposals (13,194 )
At 31st March 2024 64,953
DEPRECIATION
At 1st April 2023 64,795
Charge for year 3,773
Eliminated on disposal (13,194 )
At 31st March 2024 55,374
NET BOOK VALUE
At 31st March 2024 9,579
At 31st March 2023 4,022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 191,899 303,591
Other debtors 78,072 108,475
269,971 412,066

SIMON FENTON PARTNERSHIP LLP (REGISTERED NUMBER: OC331885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,162 9,911
Trade creditors 50,918 76,237
Taxation and social security 59,618 88,733
Other creditors 110,266 79,165
230,964 254,046

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,950 24,112

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.

9. RELATED PARTY DISCLOSURES

During the year, the Partnership was charged £nil (2023: £35,000) by SFP Consult Limited for services provided. Included within other creditors is a balance of £7,024 (2023: £12,348) owed to SFP Consult Limited.

SFP Consult Limited and Simon Fenton Partnership LLP have common directors, members and shareholders.