Registered No. OC396946 (England and Wales)
BDM PALMER LIMITED LIABILITY PARTNERSHIP
Unaudited accounts
for the period from 1 January 2023 to 31 March 2024
BDM PALMER LIMITED LIABILITY PARTNERSHIP
LLP Information
for the period from 1 January 2023 to 31 March 2024
Designated members
Mr Benjamin David Murton PALMER
Registered Number
OC396946 (England and Wales)
Registered Office
THE DOVECOTE TEMPLE COTTAGE
GODMERSHAM PARK
CANTERBURY
KENT
CT4 7DT
BDM PALMER LIMITED LIABILITY PARTNERSHIP
Statement of financial position
as at 31 March 2024
Tangible assets
7,048
9,398
Cash at bank and in hand
164,370
130,641
Creditors: amounts falling due within one year
(10,555)
(8,973)
Net current assets
154,415
125,289
Net assets attributable to members
161,463
134,687
Loans and other debts due to members
161,463
134,687
Loans and other debts due to members
161,463
134,687
For the period 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 18 October 2024.
Mr Benjamin David Murton PALMER
Designated member
Limited Liability Partnership Registration No. OC396946
BDM PALMER LIMITED LIABILITY PARTNERSHIP
Notes to the Accounts
for the period from 1 January 2023 to 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.
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:
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Turnover represents the amounts recoverable for the services provided to clients, excluding value added
tax, under contractual obligations which are performed gradually over time.
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
member's 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.
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 instrument.
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.
BDM PALMER LIMITED LIABILITY PARTNERSHIP
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
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.
BDM PALMER LIMITED LIABILITY PARTNERSHIP is a limited liability partnership, incorporated in England and Wales, registration number OC396946. Its registered office is THE DOVECOTE TEMPLE COTTAGE, GODMERSHAM PARK, CANTERBURY, KENT, CT4 7DT.
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Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
11,658
3,694
15,352
At 31 March 2024
11,658
3,694
15,352
At 1 January 2023
3,109
2,845
5,954
Charge for the period
2,137
213
2,350
At 31 March 2024
5,246
3,058
8,304
At 31 March 2024
6,412
636
7,048
At 31 December 2022
8,549
849
9,398
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Creditors: amounts falling due within one year
2024
2022
Taxes and social security costs
2,948
-
Other creditors
1,375
1,300
BDM PALMER LIMITED LIABILITY PARTNERSHIP
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
5
Loans and other debts due to members
2024
2022
Members' capital classified as a liability
134,687
134,687
Amounts due to members in respect of profits
26,776
-
Amounts falling due within one year
161,463
134,687
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
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Average number of employees
During the period the average number of employees was 0 (2022: 0).