REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 MAY 2023 TO 31 MARCH 2024 |
FOR |
BLYTHE LIGGINS LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 MAY 2023 TO 31 MARCH 2024 |
FOR |
BLYTHE LIGGINS LLP |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 May 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BLYTHE LIGGINS LLP |
GENERAL INFORMATION |
for the period 1 May 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
746,333 |
719,576 |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
BALANCE SHEET - continued |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
349,117 |
337,407 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 130,000 | 125,000 |
Other reserves | 11 |
746,333 | 719,576 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 349,117 | 337,407 |
Members' other interests | 397,216 | 382,169 |
746,333 | 719,576 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 May 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Blythe Liggins LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. Revenue is recognised when the service is provided. |
Non-contingent matters in progress at the period end are valued on the basis of fees receivable for work done at that date. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Partnership tax |
Provision is made, against each partner's current account, for estimated partnership tax liabilities due on all profits to 31 March 2024 less allowances for overlap relief available to partners, except that no provision is included for tax due by retired partners as they are responsible for settling their own tax liabilities. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 May 2023 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
BLYTHE LIGGINS LLP (REGISTERED NUMBER: OC322355) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 May 2023 to 31 March 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdraft |
Hire purchase contracts | - | 1,111 |
The Partnership's bank overdraft is secured by a charge over all the assets of the Partnership. |
The hire purchase creditor is secured against the relevant fixed assets. |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 349,117 | 337,407 |
Falling due within one year | 349,117 | 337,407 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with other creditors who are unsecured. |
11. | RESERVES |
Other |
reserves |
£ |
At 1 May 2023 |
Prior year adjustment |
Tax paid | (150,122 | ) |
Current year tax provision | 172,700 |
Transferred to creditors | (26,378 | ) |
At 31 March 2024 |
12. | OTHER FINANCIAL COMMITMENTS |
Total financial commitments, guarantees and contingencies which are not included in the balance sheet are as follows: |
2024 | 2023 |
£ | £ |
Within one year | 249,081 | 237,557 |
Between two and five years | 802,761 | 947,980 |
In over five years | 20,128 | 86,696 |
1,071,970 | 1,272,233 |