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Company No: OC335705 (England and Wales)

MOLINEAUX INVESTMENT SERVICES LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MOLINEAUX INVESTMENT SERVICES LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MOLINEAUX INVESTMENT SERVICES LLP

BALANCE SHEET

As at 31 March 2024
MOLINEAUX INVESTMENT SERVICES LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 14,606 18,424
14,606 18,424
Current assets
Debtors 5 3,430 4,850
Cash at bank and in hand 6 32,414 21,206
35,844 26,056
Creditors: amounts falling due within one year 7 ( 6,562) ( 8,962)
Net current assets 29,282 17,094
Total assets less current liabilities 43,888 35,518
Net assets attributable to members 43,888 35,518
Represented by
Loans and other debts due to members within one year
Other amounts 43,888 35,518
43,888 35,518
Members' other interests
0 0
43,888 35,518
Total members' interests
Loans and other debts due to members 8 43,888 35,518
43,888 35,518

For the financial year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

Molineaux Investment Services LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Molineaux Investment Services LLP (registered number: OC335705) were approved and authorised for issue by the Board of Directors on 13 November 2024. They were signed on its behalf by:

P Molineaux
Designated member
MOLINEAUX INVESTMENT SERVICES LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MOLINEAUX INVESTMENT SERVICES LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Molineaux Investment Services LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 4 Upper Grange Road, Beccles, NR34 9NU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

2024 2023
Number Number
Average number of members during the financial year 2 2

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 55 44,554 395 8,713 53,717
At 31 March 2024 55 44,554 395 8,713 53,717
Accumulated depreciation
At 01 April 2023 55 28,808 395 6,035 35,293
Charge for the financial year 0 3,149 0 669 3,818
At 31 March 2024 55 31,957 395 6,704 39,111
Net book value
At 31 March 2024 0 12,597 0 2,009 14,606
At 31 March 2023 0 15,746 0 2,678 18,424

5. Debtors

2024 2023
£ £
Prepayments 3,430 4,850

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 32,414 21,206

7. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 1,986 1,730
Other creditors 4,576 7,232
6,562 8,962

8. Loans and other debts due to members

2024 2023
£ £
Other amounts due to members 43,888 35,258
2024 2023
£ £
Falling due after more than one year 43,888 35,258

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up.