Registered number
OC368375
Bonham Financial Planners LLP
Unaudited Filleted Accounts
31 March 2024
Bonham Financial Planners LLP
Registered number: OC368375
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 65,765 60,864
Creditors: amounts falling due within one year 4 (1,350) (1,890)
Net current assets 64,415 58,974
Total assets less current liabilities 64,415 58,974
Net assets attributable to members 64,415 58,974
Represented by:
Loans and other debts due to members 5 64,415 58,974
64,415 58,974
Total members' interests
Loans and other debts due to members 5 64,415 58,974
64,415 58,974
For the period 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 29 October 2024 and signed on their behalf by:
A Hulmes
Designated member
Bonham Financial Planners LLP
Notes to the Accounts
for the period from 1 October 2023 to 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, net of discounts. 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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
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.
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 2,911
At 31 March 2024 2,911
Depreciation
At 1 October 2023 2,911
At 31 March 2024 2,911
Net book value
At 31 March 2024 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,350 1,890
5 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 64,415 58,974
Amounts falling due within one year 64,415 58,974
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Bonham Financial Planners LLP is a limited liability partnership incorporated in England. Its registered office is:
Charter House
Charter Way
Macclesfield
Cheshire
SK11 2NG
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