Registered number
OC345509
LAN Advisory Services LLP
Filleted Accounts
31 December 2023
LAN Advisory Services LLP
Registered number: OC345509
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 1,480,007 1,480,007
Current assets
Debtors 5 - 116,639
Cash at bank and in hand 62,662 25,420
62,662 142,059
Creditors: amounts falling due within one year 6 (999) (1,801)
Net current assets 61,663 140,258
Total assets less current liabilities 1,541,670 1,620,265
Net assets attributable to members 1,541,670 1,620,265
Represented by:
Loans and other debts due to members 7 1,541,670 1,620,265
Members' other interests
Members' capital classified as equity 53,936 53,936
Other reserves (53,936) (53,936)
- -
1,541,670 1,620,265
Total members' interests
Loans and other debts due to members 7 1,541,670 1,620,265
1,541,670 1,620,265
For the year ended 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 18 November 2024 and signed on their behalf by:
Thomas Alois Ewald Steinmetz
Designated member
LAN Advisory Services LLP
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 4,887
At 31 December 2023 4,887
Depreciation
At 1 January 2023 4,887
At 31 December 2023 4,887
Net book value
At 31 December 2023 -
4 Fixed asset investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1,480,007
At 31 December 2023 1,480,007
The LLP owns shares in two companies in South Africa which own exclusive properties in Blair Atholl Estate. The LLP also owns shares in Adamoa (Pty) Ltd, a start-up company in South Africa.
5 Debtors 2023 2022
£ £
Trade debtors - 116,639
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 999 1,801
7 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt 1,214,749 1,214,749
Loans from members 326,921 405,516
1,541,670 1,620,265
Amounts falling due within one year 1,541,670 1,620,265
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
LAN Advisory Services LLP is a limited liability partnership incorporated in England. Its registered office is:
Philips House, Drury Lane
St Leonards on Sea
East Sussex TN38 9BA
LAN Advisory Services LLP OC345509 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 Thomas Alois Ewald Steinmetz No description of principal activity OC345509 2022-01-01 2022-12-31 OC345509 core:WithinOneYear 2022-12-31 OC345509 1 2022-12-31 OC345509 core:ShareCapital 2022-12-31 OC345509 core:RetainedEarningsAccumulatedLosses 2022-12-31 OC345509 2023-01-01 2023-12-31 OC345509 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC345509 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC345509 bus:PartnerLLP20 2023-01-01 2023-12-31 OC345509 3 2023-01-01 2023-12-31 OC345509 1 2023-01-01 2023-12-31 OC345509 2 2023-01-01 2023-12-31 OC345509 4 2023-01-01 2023-12-31 OC345509 countries:England 2023-01-01 2023-12-31 OC345509 bus:FRS102 2023-01-01 2023-12-31 OC345509 bus:FilletedAccounts 2023-01-01 2023-12-31 OC345509 2023-12-31 OC345509 core:WithinOneYear 2023-12-31 OC345509 1 2023-12-31 OC345509 core:ShareCapital 2023-12-31 OC345509 core:RetainedEarningsAccumulatedLosses 2023-12-31 OC345509 core:PlantMachinery 2023-12-31 OC345509 2022-12-31 OC345509 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure