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REGISTERED NUMBER: OC416523 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

TSP Wealth LLP

TSP Wealth LLP (Registered number: OC416523)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TSP Wealth LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Rakesh Satija
Rajeev Satija
Mrs S Patel
Mrs S Satija





REGISTERED OFFICE: 255 - 261 Horn Lane
London
W3 9EH





REGISTERED NUMBER: OC416523 (England and Wales)





ACCOUNTANTS: Kumar Business Consultants Ltd
Chartered Certified Accountants
255 - 261 Horn Lane
London
W3 9EH

TSP Wealth LLP (Registered number: OC416523)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,224 1,803
Investments 5 477,615 383,151
478,839 384,954

CURRENT ASSETS
Stocks 31,580 23,062
Debtors 6 2,446,159 1,420,151
Cash at bank 34,609 24,094
2,512,348 1,467,307
CREDITORS
Amounts falling due within one year 7 2,743,811 1,752,261
NET CURRENT LIABILITIES (231,463 ) (284,954 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

247,376

100,000

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

147,376

-

MEMBERS' OTHER INTERESTS
Capital accounts 100,000 100,000
247,376 100,000

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 147,376 -
Members' other interests 100,000 100,000
Amounts due from members 6 (1,740,217 ) (1,329,883 )
(1,492,841 ) (1,229,883 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

TSP Wealth LLP (Registered number: OC416523)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 October 2024 and were signed by:




Rakesh Satija - Designated member




Rajeev Satija - Designated member


TSP Wealth LLP (Registered number: OC416523)

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

1. STATUTORY INFORMATION

TSP Wealth LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on cost

Work-in-progress
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2023 - 10 ) .

TSP Wealth LLP (Registered number: OC416523)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,312 8,988 10,300
DEPRECIATION
At 1 April 2023 938 7,559 8,497
Charge for year 94 485 579
At 31 March 2024 1,032 8,044 9,076
NET BOOK VALUE
At 31 March 2024 280 944 1,224
At 31 March 2023 374 1,429 1,803

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 383,151
Additions 50,000
Revaluations 44,464
At 31 March 2024 477,615
NET BOOK VALUE
At 31 March 2024 477,615
At 31 March 2023 383,151

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2022 33,899
Valuation in 2023 (1,376 )
Valuation in 2024 94,464
Cost 350,628
477,615

TSP Wealth LLP (Registered number: OC416523)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 268
Amounts due from members 1,740,217 1,329,883
Other debtors 695,028 90,000
VAT 10,914 -
2,446,159 1,420,151

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,291 -
Social security and other taxes 16,594 15,394
VAT - 1,869
Other creditors 2,580,129 1,726,178
Accruals and deferred income 136,797 8,820
2,743,811 1,752,261

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loan and other debts due to members rank equally in relation to other creditors.