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REGISTERED NUMBER: OC301685 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FREEMANS PARTNERSHIP LLP

FREEMANS PARTNERSHIP LLP (REGISTERED NUMBER: OC301685)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FREEMANS PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr C Petrides
Mr T Tsirtsipis
Mr R Kalia
Mr F Toumazos
Mr Y Spyrou
Mrs G M Petrides
Mr M Christodoulides





REGISTERED OFFICE: Solar House
282 Chase Road
Southgate
London
N14 6NZ





REGISTERED NUMBER: OC301685 (England and Wales)






FREEMANS PARTNERSHIP LLP (REGISTERED NUMBER: OC301685)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,715 13,073

CURRENT ASSETS
Stocks 30,500 33,500
Debtors 1,334,230 1,307,040
Cash at bank - 8,912
1,364,730 1,349,452
CREDITORS
Amounts falling due within one year 129,445 137,420
NET CURRENT ASSETS 1,235,285 1,212,032
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,244,000

1,225,105

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

1,244,000

1,225,105

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 1,244,000 1,225,105

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.

FREEMANS PARTNERSHIP LLP (REGISTERED NUMBER: OC301685)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 20 December 2024 and were signed by:





Mr R Kalia - Designated member

FREEMANS PARTNERSHIP LLP (REGISTERED NUMBER: OC301685)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Freemans Partnership 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.

Turnover
Turnover represents amounts derived from the provision of professional services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

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 - Over the term of lease
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

Stocks: work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost consists of staff salary costs and direct expenses together with an appropriate proportion of overheads. Net realisable value is based on estimated amount to be billed for services provided less further costs expected to be incurred to completion. Payments received on account of work in progress are shown as a deduction from gross work in progress.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 25 (2023 - 25 ) .

FREEMANS PARTNERSHIP LLP (REGISTERED NUMBER: OC301685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 323,198
Disposals (13,213 )
At 31 March 2024 309,985
DEPRECIATION
At 1 April 2023 310,125
Charge for year 4,358
Eliminated on disposal (13,213 )
At 31 March 2024 301,270
NET BOOK VALUE
At 31 March 2024 8,715
At 31 March 2023 13,073

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.