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Registration number: OC400440

Baker Ruff Hannon LLP

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Baker Ruff Hannon LLP

Contents

Limited liability partnership information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Baker Ruff Hannon LLP

Limited liability partnership information

Designated members

Mr J Pickford

Mr N Marsh

Mr I Mooney
 

Registered office

Second Floor Suite K
Victoria House
Victoria Street
Taunton
Somerset
TA1 3FA

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Baker Ruff Hannon LLP

(Registration number: OC400440)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

22,344

26,798

Current assets

 

Debtors

5

103,565

107,612

Cash and short-term deposits

 

55,700

66,955

 

159,265

174,567

Creditors: Amounts falling due within one year

6

(43,185)

(70,049)

Net current assets

 

116,080

104,518

Total assets less current liabilities

 

138,424

131,316

Creditors: Amounts falling due after more than one year

7

(11,667)

(21,667)

Net assets attributable to members

 

126,757

109,649

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

126,757

109,649

   

126,757

109,649

Total members' interests

 

Loans and other debts due to members

 

126,757

109,649

   

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 Board and authorised for issue on 19 November 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr J Pickford
Designated member

.........................................
Mr N Marsh
Designated member

.........................................
Mr I Mooney
Designated member

 

Baker Ruff Hannon LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 4 (2023 - 6).

 

Baker Ruff Hannon LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Intangible fixed assets

Goodwill
 £

Total
£

Cost

At 1 April 2023

12,000

12,000

At 31 March 2024

12,000

12,000

Amortisation

At 1 April 2023

12,000

12,000

At 31 March 2024

12,000

12,000

Net book value

At 31 March 2024

-

-

At 31 March 2023

-

-

 

Baker Ruff Hannon LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Tangible fixed assets

Plant and machinery
 £

Motor vehicles
 £

Office equipment
 £

Total
£

Cost

At 1 April 2023

967

88,979

8,369

98,315

Additions

2,063

-

1,204

3,267

At 31 March 2024

3,030

88,979

9,573

101,582

Depreciation

At 1 April 2023

559

63,954

7,004

71,517

Charge for the year

618

6,256

847

7,721

At 31 March 2024

1,177

70,210

7,851

79,238

Net book value

At 31 March 2024

1,853

18,769

1,722

22,344

At 31 March 2023

408

25,025

1,365

26,798

5

Debtors

2024
£

2023
£

Trade debtors

99,415

98,067

Other debtors

-

2,000

Prepayments and accrued income

4,150

7,545

Total current trade and other debtors

103,565

107,612

6

Creditors: Amounts falling due within one year

2024
 £

2023
 £

Bank loans and overdrafts

10,000

20,629

Trade creditors

4,736

13,489

Other creditors

1,907

1,471

Accruals and deferred income

2,405

2,280

Taxation and social security

24,137

32,180

43,185

70,049

 

Baker Ruff Hannon LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Bank loans and overdrafts

11,667

21,667

8

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
£

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.

9

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.