REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
David Gold & Associates LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
David Gold & Associates LLP |
David Gold & Associates LLP (Registered number: OC361587) |
Contents of the Financial Statements |
for the year ended 29 February 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
David Gold & Associates LLP |
General Information |
for the year ended 29 February 2024 |
Designated members: |
Marylebone Capital Investments Limited |
Registered office: |
Registered number: |
David Gold & Associates LLP (Registered number: OC361587) |
Balance Sheet |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 1,062,546 | 683,592 |
Loans and other debts due to members | 8 | 1,062,546 | 683,592 |
Total members' interests |
Loans and other debts due to members | 8 | 1,062,546 | 683,592 |
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. |
David Gold & Associates LLP (Registered number: OC361587) |
Balance Sheet - continued |
29 February 2024 |
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 |
David Gold & Associates LLP (Registered number: OC361587) |
Notes to the Financial Statements |
for the year ended 29 February 2024 |
1. | Statutory information |
David Gold & Associates 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. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Set out below is a summary of the principal accounting policies, all of which have been applied consistently (except as otherwise stated). |
Significant judgements and estimates |
In applying the LLP's accounting policies, the members are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The members' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. |
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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. |
Key sources of estimation uncertainty |
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: |
(ii) Recoverability of receivables |
The LLP establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the members consider factors such as the aging of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life |
Computer Equipment over 3 years |
Motor Vehicles over 5 years |
David Gold & Associates LLP (Registered number: OC361587) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
3. | Accounting policies - continued |
Financial instruments |
Financial assets and liabilities are recognised when the LLP becomes party to the contractual provisions of the financial instrument. The LLP holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, and borrowings. The LLP has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
Financial assets - classified as basic financial instruments |
(i) Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the LLP assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
(iii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid. |
Going concern |
These financial statements have been prepared on a going concern basis. |
The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the LLP's ability to continue as a going concern. Thus the members have continued to adopt the going concern basis of accounting in preparing these financial statements. |
. |
4. | Employee information |
The average number of employees during the year was |
David Gold & Associates LLP (Registered number: OC361587) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 March 2023 |
and 29 February 2024 |
Depreciation |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
8. | Loans and other debts due to members |
In the event of winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors. |