IRIS Accounts Production v24.3.0.553 OC308323 designated member designated member 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3083232023-06-30OC3083232024-06-30OC3083232023-07-012024-06-30OC3083232022-06-30OC3083232022-07-012023-06-30OC3083232023-06-30OC308323ns15:EnglandWales2023-07-012024-06-30OC308323ns14:PoundSterling2023-07-012024-06-30OC308323ns10:PartnerLLP12023-07-012024-06-30OC308323ns10:PartnerLLP22023-07-012024-06-30OC308323ns10:LimitedLiabilityPartnershipLLP2023-07-012024-06-30OC308323ns10:SmallEntities2023-07-012024-06-30OC308323ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-30OC308323ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-30OC308323ns10:LimitedLiabilityPartnershipsSORP2023-07-012024-06-30OC308323ns10:FullAccounts2023-07-012024-06-30OC30832312023-07-012024-06-30OC308323ns10:PartnerLLP32023-07-012024-06-30OC308323ns10:PartnerLLP42023-07-012024-06-30OC308323ns10:PartnerLLP52023-07-012024-06-30OC308323ns10:PartnerLLP62023-07-012024-06-30OC308323ns10:RegisteredOffice2023-07-012024-06-30OC308323ns5:CurrentFinancialInstruments2024-06-30OC308323ns5:CurrentFinancialInstruments2023-06-30OC308323ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-30OC308323ns5:FurnitureFittings2023-07-012024-06-30OC308323ns5:ComputerEquipment2023-07-012024-06-30OC308323ns5:IntangibleAssetsOtherThanGoodwill2023-06-30OC308323ns5:IntangibleAssetsOtherThanGoodwill2024-06-30OC308323ns5:IntangibleAssetsOtherThanGoodwill2023-06-30OC308323ns5:FurnitureFittings2023-06-30OC308323ns5:ComputerEquipment2023-06-30OC308323ns5:FurnitureFittings2024-06-30OC308323ns5:ComputerEquipment2024-06-30OC308323ns5:FurnitureFittings2023-06-30OC308323ns5:ComputerEquipment2023-06-30OC308323ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-30OC308323ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: OC308323 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

WM SAUNDERS PARTNERSHIP LLP

WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WM SAUNDERS PARTNERSHIP LLP

GENERAL INFORMATION
for the Year Ended 30th June 2024







DESIGNATED MEMBERS: A C Gibson
N A Connett
S J Saunders
S S Hood
Ms T J Howard
P E Joyce





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: OC308323 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)

BALANCE SHEET
30th June 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,500 8,500
Tangible assets 5 73,703 47,966
82,203 56,466

CURRENT ASSETS
Stocks 800 800
Debtors 6 757,804 823,482
Cash at bank and in hand 189,549 290,015
948,153 1,114,297
CREDITORS
Amounts falling due within one year 7 389,866 418,214
NET CURRENT ASSETS 558,287 696,083
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

640,490

752,549

WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)

BALANCE SHEET - continued
30th June 2024

30/6/24 30/6/23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

370,490

482,549

MEMBERS' OTHER INTERESTS
Capital accounts 270,000 270,000
640,490 752,549

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 370,490 482,549
Members' other interests 270,000 270,000
640,490 752,549

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 30th June 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18th November 2024 and were signed by:




A C Gibson - Designated member



Ms T J Howard - Designated member


WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

Wm Saunders Partnership 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are not being amortised as their residual value is anticipated to be not less than cost.

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 - 15% on reducing balance
Computer equipment - 50% on cost and 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Members' profit shares
Members are remunerated solely out of the profits of the LLP, and are personally responsible for funding their pensions and other benefits. Final allocation of the profits to members is made in the light of the results for the year after assessing the contribution to the LLP of each office and each member.

Members' drawings
The policy for members' drawings is to distribute the majority of the profit during the financial year having taken into account the need to maintain sufficient funds to settle members' income tax liabilities with H M Revenue & Customs and to finance the working capital and other requirements of the business. The level of members' monthly drawings and other interim drawings is determined by the members as a whole. The final allocation and distribution of profits to individual members is made once the provision of profits has been assessed based on performances, and after the annual financial statements have been approved.

WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

3. EMPLOYEE INFORMATION

The average number of employees during the year was 37 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st July 2023
and 30th June 2024 8,500
NET BOOK VALUE
At 30th June 2024 8,500
At 30th June 2023 8,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st July 2023 149,476 94,671 244,147
Additions 27,385 15,603 42,988
At 30th June 2024 176,861 110,274 287,135
DEPRECIATION
At 1st July 2023 120,145 76,036 196,181
Charge for year 6,021 11,230 17,251
At 30th June 2024 126,166 87,266 213,432
NET BOOK VALUE
At 30th June 2024 50,695 23,008 73,703
At 30th June 2023 29,331 18,635 47,966

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 515,547 581,459
Other debtors 13,168 13,546
Accrued income 94,826 85,951
Prepayments 134,263 142,526
757,804 823,482

WM SAUNDERS PARTNERSHIP LLP (REGISTERED NUMBER: OC308323)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade creditors 185,343 180,633
Social security and other taxes 163,409 176,614
Accrued expenses 41,114 60,967
389,866 418,214

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
30/6/24 30/6/23
£    £   
Amounts owed to members in respect of profits 370,490 482,549

Falling due within one year 370,490 482,549

Loans and other debts due to members rank equally with other unsecured creditors.

9. CONTINGENT LIABILITIES

The LLP had no contingent liabilities at 30th June 2024 (2023 - none).

10. CAPITAL COMMITMENTS
30/6/24 30/6/23
£    £   
Contracted but not provided for in the
financial statements - -

11. RELATED PARTY DISCLOSURES

During the year, the partnership rented property from WSP Enterprises LLP, rent charged amounting to £16,500 (2023 - £16,500). There was no balance outstanding at 30th June 2023 or 30th June 2024. The members consider that all transactions have taken place on normal commercial terms. Two members hold by virtue of their own and family interests 50% of the profit share and voting rights in WSP Enterprises LLP.