Clintons LLP
Annual Report and
Unaudited
Financial Statements
Year Ended 30 June 2024
Registration number: OC431650
Clintons LLP
Contents
Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Clintons LLP
Balance Sheet
30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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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 liabilities |
( |
( |
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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 |
1,000 |
1,000 |
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1,000 |
1,000 |
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Total members' interests |
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Loans and other debts due to members |
1,000 |
1,000 |
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1,000 |
1,000 |
For the year ending 30 June 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.
These financial statements have been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
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.
Clintons LLP
Balance Sheet
30 June 2024
The financial statements of Clintons LLP (registered number OC431650) were approved by the
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Clintons LLP
Notes to the Financial Statements
Year Ended 30 June 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' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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 Clintons LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
The LLP was dormant and has not traded during the period.
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.
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:
Asset class |
Depreciation method and rate |
Leasehold improvements |
10% Straight line |
Furniture and fittings |
33% Reducing balance |
Office equipment |
33% Reducing balance |
Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
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.
Clintons LLP
Notes to the Financial Statements
Year Ended 30 June 2024
Profit for the year before members' remuneration and profit shares |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation |
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Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Tangible fixed assets |
Long leasehold land and buildings |
Fixtures and fittings |
Office equipment |
Total |
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Cost |
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At 1 July 2023 |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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At 30 June 2024 |
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Net book value |
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At 30 June 2024 |
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At 30 June 2023 |
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Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £1,079,510 (2023 - £1,195,091) in respect of leaseholds.
Clintons LLP
Notes to the Financial Statements
Year Ended 30 June 2024
Investments held as fixed assets |
2024 |
2023 |
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Other investments |
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Other investments
Unlisted investments |
Total |
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Cost |
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Additions |
1,000 |
1,000 |
At 30 June 2024 |
1,000 |
1,000 |
Net book value |
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At 30 June 2024 |
1,000 |
1,000 |
Debtors |
2024 |
2023 |
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Trade debtors |
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- |
Other debtors |
- |
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Total current trade and other debtors |
24,000 |
72 |
Creditors: Amounts falling due within one year |
30 June 2024 |
30 June 2023 |
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Other creditors |
650,733 |
876,077 |
Accruals and deferred income |
686,598 |
667,220 |
1,337,331 |
1,543,297 |
Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.
Clintons LLP
Notes to the Financial Statements
Year Ended 30 June 2024
Related party transactions |
Summary of transactions with other related parties
Clintons LLP is a partner of the partnership, Clintons.