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REGISTERED NUMBER: OC351110 (England and Wales)















POWELL WILLIAMS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWELL WILLIAMS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DESIGNATED MEMBERS: M D Hunt
D J Ward





REGISTERED OFFICE: 150 Minories
London
EC3N 1LS





REGISTERED NUMBER: OC351110 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 196,548 235,858
Tangible assets 5 80,536 98,508
277,084 334,366

CURRENT ASSETS
Debtors 6 767,371 768,590
Cash at bank 416,057 263,838
1,183,428 1,032,428
CREDITORS
Amounts falling due within one year 7 569,858 484,979
NET CURRENT ASSETS 613,570 547,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,654

881,815

CREDITORS
Amounts falling due after more than one year 8 128,585 298,994
NET ASSETS ATTRIBUTABLE TO
MEMBERS

762,069

582,821

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

456,068

276,820

MEMBERS' OTHER INTERESTS
Capital accounts 306,001 306,001
762,069 582,821

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 456,068 276,820
Members' other interests 306,001 306,001
762,069 582,821

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 30 June 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.

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 9 January 2025 and were signed by:




M D Hunt - Designated member




D J Ward - Designated member


POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Powell Williams 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.

Significant judgements and estimates
The LLP continually reviews its approach to estimations and judgements within the financial statements with a view to mitigate material misstatements. Historical experience along with other factors are used to create prudent accounting policies. Combining these policies with informed forecasts of the LLP's future, enables fair and consistent assumptions and estimates to be concluded.

Significant provisions are monitored by management and best estimates are maintained in accordance with any legal or contractual requirements.

Turnover
Turnover represents the net value of services provided, excluding value added tax.

Goodwill
Goodwill represents the value of goodwill transferred into the Limited Liability Partnership by the Founding Members less amortisation and any impairment.

It is being amortised over a period of 8 years from 1 July 2021.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the LLP does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 20 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 314,478
AMORTISATION
At 1 July 2023 78,620
Charge for year 39,310
At 30 June 2024 117,930
NET BOOK VALUE
At 30 June 2024 196,548
At 30 June 2023 235,858

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 99,269 23,800 320,473 443,542
Additions - - 5,932 5,932
At 30 June 2024 99,269 23,800 326,405 449,474
DEPRECIATION
At 1 July 2023 85,170 22,698 237,166 345,034
Charge for year 2,113 276 21,515 23,904
At 30 June 2024 87,283 22,974 258,681 368,938
NET BOOK VALUE
At 30 June 2024 11,986 826 67,724 80,536
At 30 June 2023 14,099 1,102 83,307 98,508

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 618,284 610,462
Other debtors - 6,446
Prepayments 37,525 40,767
Amounts recoverable on
contracts 111,562 110,915
767,371 768,590

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan 34,969 40,290
Other Loans 4,682 15,565
Trade creditors 71,437 57,674
Social security and other taxes 166,722 138,150
Other creditors 133,876 120,962
Accrued expenses 158,172 112,338
569,858 484,979

POWELL WILLIAMS LLP (REGISTERED NUMBER: OC351110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan - 48,101
Other loans 11,585 4,893
Other creditors 117,000 246,000
128,585 298,994

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 55,620 124,571
Between one and five years - 27,362
55,620 151,933

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 24,969 56,830

11. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 456,068 276,820

Falling due within one year 456,068 276,820

Loans and other debts due to members are payable after all other creditors.