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Registered number: OC445763














SCHILLINGS COMMUNICATIONS LLP
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

 
SCHILLINGS COMMUNICATIONS LLP
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
SCHILLINGS COMMUNICATIONS LLP
REGISTERED NUMBER:OC445763

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
Note
£

Current assets
  

Debtors: amounts falling due within one year
 4 
441,564

Cash at bank and in hand
  
232,902

  
674,466

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(45,460)

Net assets
  
629,006


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
124,113

Members' other interests
  

Members' capital classified as equity
  
200,000

Other reserves classified as equity
  
304,893

  
629,006


Total members' interests
  

Loans and other debts due to members
  
124,113

Members' other interests
  
504,893

  
629,006


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

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 6 November 2024.




B Reynolds
On behalf of designated member
Schillings International LLP

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SCHILLINGS COMMUNICATIONS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

Schillings Communications  LLP is a private Limited Liability Partnership incorporated in England and Wales, with its principal place of business and registered office address at 12 Arthur Street, London, EC4R 9AB.
The LLP was incorporated on 9 February 2023 and commenced trading on that date.
The principal activity of the LLP is to provide professional services.
The LLP's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents the value of professional services provided during the period to clients. The value reflects the amount of time, skill and expertise expected to be recoverable from clients, excluding VAT.
Where work is unbilled at the reporting date, an estimated accrued income is recognised in the Statement of Comprehensive Income and Statement of Financial Position based on the stage of completion of the transaction where it is probable that the economic benefits of the transaction will flow to the LLP and the value can be estimated reliably. Turnover which has been recognised but not invoiced by the reporting date is included in trade debtors.

 
2.3

Pensions

Defined contribution pension plan
The LLP contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.4

Taxation

Income tax arising on the profits of the LLP is solely the personal liability of the individual members and consequently is not dealt with in these financial statements..

Page 2

 
SCHILLINGS COMMUNICATIONS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.6

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

  
2.9

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.


3.


Employees

The average monthly number of employees, including members, during the period was 4.


4.


Debtors

2024
£


Amounts owed by group undertakings
434,240

Other debtors
700

Prepayments and accrued income
6,624

441,564


Page 3

 
SCHILLINGS COMMUNICATIONS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

5.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
600

Other taxation and social security
16,273

Other creditors
12,017

Accruals and deferred income
16,570

45,460



6.


Related party transactions

The LLP has taken advantage of the exemption under FRS102 33. 1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


7.


Controlling party

The members regard Schillings International LLP, a limited liability partnership registered in England and Wales, as the ultimate parent undertaking.


8.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 6 November 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 4