Bone & Co LLP
Registered number: OC348885
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 37,468 37,468
Creditors: amounts falling due within one year 4 (18,675) (18,675)
Net current assets 18,793 18,793
Total assets less current liabilities 18,793 18,793
Creditors: amounts falling due after more than one year 5 (5,370) (5,370)
Net assets attributable to members 13,423 13,423
Represented by:
Loans and other debts due to members 6 18,847 18,847
Members' other interests
Other reserves (5,424) (5,424)
13,423 13,423
Total members' interests
Loans and other debts due to members 6 18,847 18,847
Members' other interests (5,424) (5,424)
13,423 13,423
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 by the members on 30 November 2024 and signed on their behalf by:
S Bishop
Designated member
Bone & Co 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.
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.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Debtors 2024 2023
£ £
Other debtors 37,468 37,468
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,472 9,472
Other taxes and social security costs 9,203 9,203
18,675 18,675
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 5,370 5,370
6 Loans and other debts due to members 2024 2023
£ £
Loans from members 18,847 18,847
Amounts falling due within one year 18,847 18,847
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Bone & Co LLP is a limited liability partnership incorporated in England. Its registered office is:
Unit 3 Elgar Business Centre
Moseley Road
Hallow
Worcestershire
WR2 6NJ
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