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REGISTERED NUMBER: OC364537 (England and Wales)












FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024

FOR

JERMAN, SAMUELS & PEARSON LLP

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JERMAN, SAMUELS & PEARSON LLP

GENERAL INFORMATION
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: M C Jerman
S Samuels
I R Clift
C S Denniss





REGISTERED OFFICE: Kingswood House
Third Floor
58 - 64 Baxter Avenue
Southend on Sea
Essex
SS2 6BG





REGISTERED NUMBER: OC364537 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,276 117,838

CURRENT ASSETS
Stocks 567,920 596,043
Debtors 5 88,072 133,110
Cash at bank and in hand 378,461 281,268
1,034,453 1,010,421
CREDITORS
Amounts falling due within one year 6 618,745 701,329
NET CURRENT ASSETS 415,708 309,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,984

426,930

CREDITORS
Amounts falling due after more than one
year

7

81,406

93,791
NET ASSETS ATTRIBUTABLE TO
MEMBERS

416,578

333,139

LOANS AND OTHER DEBTS DUE TO
MEMBERS

416,578

333,139

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 416,578 333,139

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 period ended 31 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.

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)

BALANCE SHEET - continued
31 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 30 September 2024 and were signed by:





M C Jerman - Designated member

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

JERMAN, SAMUELS & PEARSON 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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 25 (2023 - 24 ) .

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 80,207 178,895 259,102
Disposals - (25,635 ) (25,635 )
At 31 March 2024 80,207 153,260 233,467
DEPRECIATION
At 1 June 2023 58,409 82,855 141,264
Charge for period 3,633 31,929 35,562
Eliminated on disposal - (25,635 ) (25,635 )
At 31 March 2024 62,042 89,149 151,191
NET BOOK VALUE
At 31 March 2024 18,165 64,111 82,276
At 31 May 2023 21,798 96,040 117,838

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,814 127,517
Other debtors 4,000 4,000
Prepayments 10,258 1,593
88,072 133,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 238,018 207,219
Loans 145,000 195,000
Hire purchase contracts (see note 8) 14,863 28,748
Social security and other taxes 17,973 15,018
VAT 117,503 87,936
Other creditors 20,073 34,782
Client indebtedness 46,325 76,205
Accrued expenses 18,990 56,421
618,745 701,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 81,406 93,791

JERMAN, SAMUELS & PEARSON LLP (REGISTERED NUMBER: OC364537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 14,863 28,748
Between one and five years 81,406 93,791
96,269 122,539

Non-cancellable operating leases
2024 2023
£    £   
Within one year 61,400 61,400

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 238,018 207,219
Hire purchase contracts 96,269 122,539
334,287 329,758

The bank overdraft is personally guaranteed by the members, whilst the hire purchase contracts are secured against the items to which they relate.