Registered number
OC401823
Yorkshire Eye Specialists LLP
Filleted Accounts
31 March 2024
Yorkshire Eye Specialists LLP
Registered number: OC401823
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,505 32,678
Current assets
Debtors 4 63,675 84,106
Cash at bank and in hand 319,010 268,257
382,685 352,363
Creditors: amounts falling due within one year 5 (99,595) (162,606)
Net current assets 283,090 189,757
Total assets less current liabilities 292,595 222,435
Creditors: amounts falling due after more than one year 6 (26,058) (29,088)
Net assets attributable to Members 266,537 193,347
Represented by:
Loans and other debts due to Members 7 130,000 143,000
Members' other interests
Other reserves 136,537 50,347
266,537 193,347
Total Members' interests
Loans and other debts due to Members 7 130,000 143,000
Members' other interests 136,537 50,347
266,537 193,347
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved on 20 September 2024 and signed on the Members' behalf by:
Thomas E Fearnley, Chairman, for and on behalf of Fearnley Eyecare Ltd
Designated Member
Yorkshire Eye Specialists LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the Members agree to divide them.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the Members. Any amounts held by the LLP on behalf of Members in respect of their tax liabilities are treated as debts due to Members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 170,290
Additions 779
At 31 March 2024 171,069
Depreciation
At 1 April 2023 137,612
Charge for the year 23,952
At 31 March 2024 161,564
Net book value
At 31 March 2024 9,505
At 31 March 2023 32,678
4 Debtors 2024 2023
£ £
Trade debtors 51,506 66,928
Other debtors 12,169 17,178
63,675 84,106
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,952 10,703
Trade creditors 69,647 130,467
Accrued charges 14,648 14,624
Other taxes and social security costs 4,247 4,373
Other creditors 3,101 2,439
99,595 162,606
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,976 11,928
Other creditors 22,082 17,160
26,058 29,088
7 Loans and other debts due to Members 2024 2023
£ £
Loans from Members 130,000 143,000
Amounts falling due within one year 130,000 143,000
Loans and other debts due to Members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Yorkshire Eye Specialists LLP is a limited liability partnership incorporated in England. Its registered office is:
Silverfox House
35 Brooklands Crescent
Fulwood
Sheffield
S10 4GE
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