Registration number:
Baker Ruff Hannon LLP
Filleted
for the Year Ended 31 March 2024
Baker Ruff Hannon LLP
Contents
Limited liability partnership information |
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Balance Sheet |
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Notes to the Financial Statements |
Baker Ruff Hannon LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Baker Ruff Hannon LLP
(Registration number: OC400440)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
126,757 |
109,649 |
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126,757 |
109,649 |
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Total members' interests |
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Loans and other debts due to members |
126,757 |
109,649 |
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126,757 |
109,649 |
For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
Baker Ruff Hannon LLP
(Registration number: OC400440)
Balance Sheet as at 31 March 2024
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Baker Ruff Hannon LLP (registered number OC400440) were approved by the
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Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' .
General information and basis of accounting
The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Baker Ruff Hannon LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
The partners have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.
In addition, the partners do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.
The partners have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cashflow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.
The partners have implemented a robust system of procedures and controls in order to deal with any associated risks.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Members' remuneration and division of profits
The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Tangible fixed assets
Individual fixed assets are initially recorded at cost and subsequently depreciated in line with the depreciation policy.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Motor Vehicles |
25% reducing balance |
Office Equipment |
33% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price and regularly reviewed for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Intangible fixed assets |
Goodwill |
Total |
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Cost |
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At 1 April 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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At 31 March 2024 |
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Net book value |
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At 31 March 2024 |
- |
- |
At 31 March 2023 |
- |
- |
Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Tangible fixed assets |
Plant and machinery |
Motor vehicles |
Office equipment |
Total |
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Cost |
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At 1 April 2023 |
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Additions |
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- |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Net book value |
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At 31 March 2024 |
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At 31 March 2023 |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Other debtors |
- |
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Prepayments and accrued income |
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Total current trade and other debtors |
103,565 |
107,612 |
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Accruals and deferred income |
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Taxation and social security |
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Baker Ruff Hannon LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors: Amounts falling due after more than one year |
2024 |
2023 |
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Bank loans and overdrafts |
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Loans and other debts due to members |
Amounts due to members in respect of profits
As at 1 April 2023 |
Other movement |
As at 31 March 2024 |
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Amounts due to members |
85,149 |
11,170 |
96,319 |
Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.
Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.