REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 November 2023 to 31 March 2024 |
for |
Thomson Stott LLP |
T/A |
NT3 |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 November 2023 to 31 March 2024 |
for |
Thomson Stott LLP |
T/A |
NT3 |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Contents of the Financial Statements |
for the Period 1 November 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Thomson Stott LLP |
T/A NT3 |
General Information |
for the Period 1 November 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
Mrs A J Thomson |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.10.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
69,871 |
67,067 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
69,871 |
67,067 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 69,871 | 67,067 |
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. |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Notes to the Financial Statements |
for the Period 1 November 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Thomson Stott 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. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
Revenue Recognition |
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance. |
Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on their fair value of the right to consideration at the balance sheet date. The value is included in debtors as Amounts Recoverable on Contracts. |
Tangible fixed assets |
Plant and machinery etc | - |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated at an average cost basis. |
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. |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Notes to the Financial Statements - continued |
for the Period 1 November 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Member's participation rights |
Member's participation rights are the rights of a member against the LLP that arise under the member's agreement (for example, in respect of amounts subscribed or otherwise contributed,remuneration and profits). |
Member's participation rights in the earnings or assets of the LLP are analysed between those that are, from LLP's perspective, either a financial liability or equity. in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Member's shares in co-operative entities and similar instruments. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP. |
Amounts subscribed or otherwise contributed by members, for example member's capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities. |
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities.They are therefore treated as an expense in the Profit and Loss Account in the relevant year.To the extent that they remain unpaid at the period end, they are shown as liabilities the Balance Sheet. |
Conversely, where profits are divided only after a decision by the LLP or its representatives, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than an expense.They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet. |
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above,according to whether the LLP has, in each case, an unconditional right to refuse payment. |
All amounts due to members that are classified as liabilities are presented in the Balance Sheet within "Loans and other debts due to members' and are charged to the Profit and Loss Account within "Members' remuneration charged as an expense". Amounts due to members that are classified as equity are shown in the Balance Sheet within "Members' other interests". |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Notes to the Financial Statements - continued |
for the Period 1 November 2023 to 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 October 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.10.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.10.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.10.23 |
£ | £ |
Bank loans |
Thomson Stott LLP (Registered number: OC327185) |
T/A NT3 |
Notes to the Financial Statements - continued |
for the Period 1 November 2023 to 31 March 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.10.23 |
£ | £ |
Within one year |
Between one and five years |
9. | 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. |