Silverfin false 31/03/2024 01/05/2023 31/03/2024 R M S Berry 24/03/2011 C A Georgiou 24/03/2011 M H Homewood 01/07/2022 S Simms 01/07/2022 28 August 2024 OC363115 2024-03-31 OC363115 bus:Director1 2024-03-31 OC363115 bus:Director2 2024-03-31 OC363115 bus:Director3 2024-03-31 OC363115 bus:Director4 2024-03-31 OC363115 2023-04-30 OC363115 core:CurrentFinancialInstruments 2024-03-31 OC363115 core:CurrentFinancialInstruments 2023-04-30 OC363115 core:Non-currentFinancialInstruments 2024-03-31 OC363115 core:Non-currentFinancialInstruments 2023-04-30 OC363115 core:LandBuildings 2023-04-30 OC363115 core:LeaseholdImprovements 2023-04-30 OC363115 core:Vehicles 2023-04-30 OC363115 core:FurnitureFittings 2023-04-30 OC363115 core:OfficeEquipment 2023-04-30 OC363115 core:LandBuildings 2024-03-31 OC363115 core:LeaseholdImprovements 2024-03-31 OC363115 core:Vehicles 2024-03-31 OC363115 core:FurnitureFittings 2024-03-31 OC363115 core:OfficeEquipment 2024-03-31 OC363115 2023-05-01 2024-03-31 OC363115 bus:FullAccounts 2023-05-01 2024-03-31 OC363115 bus:SmallEntities 2023-05-01 2024-03-31 OC363115 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 OC363115 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC363115 bus:Director1 2023-05-01 2024-03-31 OC363115 bus:Director2 2023-05-01 2024-03-31 OC363115 bus:Director3 2023-05-01 2024-03-31 OC363115 bus:Director4 2023-05-01 2024-03-31 OC363115 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-03-31 OC363115 core:Vehicles 2023-05-01 2024-03-31 OC363115 core:FurnitureFittings 2023-05-01 2024-03-31 OC363115 core:OfficeEquipment 2023-05-01 2024-03-31 OC363115 2022-05-01 2023-04-30 OC363115 core:LandBuildings 2023-05-01 2024-03-31 OC363115 core:LeaseholdImprovements 2023-05-01 2024-03-31 OC363115 core:Non-currentFinancialInstruments 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC363115 (England and Wales)

BERRY REDMOND GORDON AND PENNEY LLP

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

BERRY REDMOND GORDON AND PENNEY LLP

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

BERRY REDMOND GORDON AND PENNEY LLP

BALANCE SHEET

As at 31 March 2024
BERRY REDMOND GORDON AND PENNEY LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Tangible assets 3 278,317 286,992
278,317 286,992
Current assets
Debtors 4 676,026 651,964
Cash at bank and in hand 104,892 183,693
780,918 835,657
Creditors: amounts falling due within one year 5 ( 519,278) ( 526,084)
Net current assets 261,640 309,573
Total assets less current liabilities 539,957 596,565
Creditors: amounts falling due after more than one year 6 ( 13,333) ( 22,500)
Net assets attributable to members 526,624 574,065
Represented by
Loans and other debts due to members within one year
Other amounts 188,063 201,423
188,063 201,423
Members' other interests
Other reserves 338,561 372,642
338,561 372,642
526,624 574,065
Total members' interests
Loans and other debts due to members 188,063 201,423
Members' other interests 338,561 372,642
526,624 574,065

For the financial period ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Berry Redmond Gordon and Penney LLP (registered number: OC363115) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

R M S Berry
Designated member
C A Georgiou
Designated member
S Simms
Designated member
M H Homewood
Designated member
BERRY REDMOND GORDON AND PENNEY LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
BERRY REDMOND GORDON AND PENNEY LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Berry Redmond Gordon and Penney LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 50 Boulevard, Weston-Super-Mare, BS23 1NF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The current year period is a shortened period of eleven months due to the company changing there year end in line with the new change is basis period. Comparative figures in the accounts and the related notes are therefore not entirely comparable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered to clients during the year, net of VAT.

Turnover is recognised by reference to the stage of completion of the engagement and when the amount of turnover can be reliably measured. The stage of completion is measured by comparing the costs incurred for work performed to date to the total estimated costs of the engagement. Unbilled revenue is included in debtors as amounts recoverable on client contracts.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 10 years straight line
Vehicles 20 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Work in progress comprises professional time costs, excluding any mark-up, plus disbursements, to the extent that no right to consideration exists at the balance sheet date. Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated receivable amount is recognised as a bad debt in profit or loss. Reversals of bad debt write offs are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Members' remuneration and division of profits

The LLP agreement provides that the profits are allocated to members each year. These amounts are included within members' remuneration charges to the profit and loss account.

Loans and other debts due to members

In the event of a winding up, members other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the LLP during the period 57 55

3. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 238,851 20,182 49,230 250,955 618,008 1,177,226
At 31 March 2024 238,851 20,182 49,230 250,955 618,008 1,177,226
Accumulated depreciation
At 01 May 2023 3,851 4,037 40,219 245,435 596,692 890,234
Charge for the financial period 0 1,850 1,652 1,265 3,908 8,675
At 31 March 2024 3,851 5,887 41,871 246,700 600,600 898,909
Net book value
At 31 March 2024 235,000 14,295 7,359 4,255 17,408 278,317
At 30 April 2023 235,000 16,145 9,011 5,520 21,316 286,992

4. Debtors

31.03.2024 30.04.2023
£ £
Trade debtors 168,924 180,904
Other debtors 507,102 471,060
676,026 651,964

5. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Bank loans 10,000 10,000
Trade creditors 11,141 11,109
Other taxation and social security 87,364 109,823
Other creditors 410,773 395,152
519,278 526,084

6. Creditors: amounts falling due after more than one year

31.03.2024 30.04.2023
£ £
Bank loans 13,333 22,500

There are no amounts included above in respect of which any security has been given by the small entity.