Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC436980 Mrs Nicole O'Shea Mr Robert O'Shea iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC436980 2023-03-31 OC436980 2024-03-31 OC436980 2023-04-01 2024-03-31 OC436980 frs-core:CurrentFinancialInstruments 2024-03-31 OC436980 frs-core:Non-currentFinancialInstruments 2024-03-31 OC436980 frs-core:ComputerEquipment 2024-03-31 OC436980 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC436980 frs-core:ComputerEquipment 2023-03-31 OC436980 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 OC436980 frs-core:OtherResidualIntangibleAssets 2024-03-31 OC436980 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 OC436980 frs-core:OtherResidualIntangibleAssets 2023-03-31 OC436980 frs-core:PlantMachinery 2024-03-31 OC436980 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC436980 frs-core:PlantMachinery 2023-03-31 OC436980 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC436980 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC436980 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC436980 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC436980 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC436980 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC436980 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC436980 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC436980 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC436980 2022-03-31 OC436980 2023-03-31 OC436980 2022-04-01 2023-03-31 OC436980 frs-core:CurrentFinancialInstruments 2023-03-31 OC436980 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC436980
Kip McGrath Southend East LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
The Financial Management Centre Southend
Chartered Certified Accountants
Office 22 The Link Business Centre
2nd Floor Tylers House
Southend-On-Sea
Essex
SS1 2BB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC436980
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,040 9,060
Tangible Assets 5 4,106 2,392
10,146 11,452
CURRENT ASSETS
Debtors 6 93,875 72,831
93,875 72,831
Creditors: Amounts Falling Due Within One Year 7 (63,034 ) (55,582 )
NET CURRENT ASSETS (LIABILITIES) 30,841 17,249
TOTAL ASSETS LESS CURRENT LIABILITIES 40,987 28,701
Creditors: Amounts Falling Due After More Than One Year 8 (44,620 ) (37,424 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (3,633 ) (8,723 )
REPRESENTED BY:
TOTAL MEMBERS' INTEREST
Amounts due from members (93,875) (72,596)
(93,875) (72,596)
Page 1
Page 2
For the 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Nicole O'Shea
Designated Member
25/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kip McGrath Southend East LLP is a limited liability partnership, incorporated in England & Wales, registered number OC436980 . The Registered Office is 569 London Road, Westcliff on Sea, Essex, SS0 9PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line 25%
Computer Equipment Straight line 33%
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 8 (2023: 8)
8 8
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 15,100
As at 31 March 2024 15,100
Amortisation
As at 1 April 2023 6,040
Provided during the period 3,020
As at 31 March 2024 9,060
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 6,040
As at 1 April 2023 9,060
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 3,180 1,561 4,741
Additions - 4,000 4,000
As at 31 March 2024 3,180 5,561 8,741
Depreciation
As at 1 April 2023 1,590 759 2,349
Provided during the period 795 1,491 2,286
As at 31 March 2024 2,385 2,250 4,635
Net Book Value
As at 31 March 2024 795 3,311 4,106
As at 1 April 2023 1,590 802 2,392
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 235
Amounts due from members 93,875 72,596
93,875 72,831
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,018 552
Bank loans and overdrafts 35,674 42,363
Other taxes and social security - 1,142
VAT 26,342 11,525
63,034 55,582
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 44,620 37,424
Page 4