IRIS Accounts Production v24.2.0.383 OC423243 designated member 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4232432023-03-31OC4232432024-03-31OC4232432023-04-012024-03-31OC4232432022-03-31OC4232432022-04-012023-03-31OC4232432023-03-31OC423243ns15:EnglandWales2023-04-012024-03-31OC423243ns14:PoundSterling2023-04-012024-03-31OC423243ns10:PartnerLLP12023-04-012024-03-31OC423243ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC423243ns10:SmallEntities2023-04-012024-03-31OC423243ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC423243ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC423243ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC423243ns10:FullAccounts2023-04-012024-03-31OC423243ns10:PartnerLLP22023-04-012024-03-31OC423243ns10:RegisteredOffice2023-04-012024-03-31OC423243ns5:CurrentFinancialInstruments2024-03-31OC423243ns5:CurrentFinancialInstruments2023-03-31OC423243ns5:Non-currentFinancialInstruments2024-03-31OC423243ns5:Non-currentFinancialInstruments2023-03-31OC423243ns5:ComputerEquipment2023-04-012024-03-31OC423243ns5:ComputerEquipment2023-03-31OC423243ns5:ComputerEquipment2024-03-31OC423243ns5:ComputerEquipment2023-03-31OC423243ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC423243ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC423243ns5:WithinOneYear2024-03-31OC423243ns5:WithinOneYear2023-03-31OC423243ns5:BetweenOneFiveYears2024-03-31OC423243ns5:BetweenOneFiveYears2023-03-31OC423243ns5:AllPeriods2024-03-31OC423243ns5:AllPeriods2023-03-31
REGISTERED NUMBER: OC423243 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PETERS MAY LLP

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETERS MAY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Juliette Peters
Jessica May





REGISTERED OFFICE: 68 Brook Street
LONDON
W1K 5DZ





REGISTERED NUMBER: OC423243 (England and Wales)





ACCOUNTANTS: Staffords
Chartered Accountants
Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,205 1,636

CURRENT ASSETS
Debtors 5 182,350 114,042
Cash at bank 84,275 106,571
266,625 220,613
CREDITORS
Amounts falling due within one year 6 60,611 43,110
NET CURRENT ASSETS 206,014 177,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,219

179,139

CREDITORS
Amounts falling due after more than one
year

7

5,934

10,882
NET ASSETS ATTRIBUTABLE TO
MEMBERS

201,285

168,257

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

131,849

98,821

MEMBERS' OTHER INTERESTS
Capital accounts 69,436 69,436
201,285 168,257

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 131,849 98,821
Members' other interests 69,436 69,436
201,285 168,257

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 year 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19 November 2024 and were signed by:





Juliette Peters - Designated member

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Peters May LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 - 33% on cost

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 year was 3 (2023 - 2 ) .

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 8,574
Additions 698
At 31 March 2024 9,272
DEPRECIATION
At 1 April 2023 6,938
Charge for year 1,129
At 31 March 2024 8,067
NET BOOK VALUE
At 31 March 2024 1,205
At 31 March 2023 1,636

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,279 82,726
Other debtors 61,071 31,316
182,350 114,042

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,915 4,995
Taxation and social security 41,890 30,088
Other creditors 9,806 8,027
60,611 43,110

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 5,934 10,882

PETERS MAY LLP (REGISTERED NUMBER: OC423243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 42,840
Between one and five years 57,552 -
57,552 42,840

The lease on the property was renewed following the expiry of the last 2 year period in September 2023.

The above value is the annualised equivalent for the rent assuming the agreement continues for the whole year after the current year end date., It also includes the monthly payment for the software used to run the practice which is £6,192 of the above total.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 131,849 98,821

Falling due within one year 131,849 98,821