REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
FOR |
EDWARD CHARLES & PARTNERS LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
FOR |
EDWARD CHARLES & PARTNERS LLP |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EDWARD CHARLES & PARTNERS LLP |
GENERAL INFORMATION |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
St John's Wood |
London |
NW8 0DL |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
BALANCE SHEET |
5 APRIL 2024 |
5.4.24 | 30.6.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 826,515 | 3,261,428 |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
BALANCE SHEET - continued |
5 APRIL 2024 |
5.4.24 | 30.6.23 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS | - | - |
MEMBERS' OTHER INTERESTS |
Other reserves |
826,515 | 3,261,428 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 826,515 | 3,261,428 |
Amounts due from members | 5 | - | (1,784,458 | ) |
826,515 | 1,476,970 |
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 |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
Edward Charles & Partners 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 |
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
The financial statements for the previous accounting period were prepared for the period ended to 31 June 2023. The company has since amended its accounting period to 05 April 2024. The comparative amounts presented in the financial statement cover a twelve month period and are not entirely comparable with the amounts presented for the current period covering 9 months. |
Turnover |
Turnover represents amounts receivable for services net of VAT and trade discounts. Professional fees are recognised as income when the deal relating to the fee becomes unconditional. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Leases |
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. |
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. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. |
Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Retirement benefits and post retirement payments to members |
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 5 April 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 30.6.23 |
£ | £ |
Trade debtors |
Other debtors |
EDWARD CHARLES & PARTNERS LLP (REGISTERED NUMBER: OC304844) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2023 TO 5 APRIL 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 30.6.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
5.4.24 | 30.6.23 |
£ | £ |
Within one year |
Between one and five years |
The company is committed to 3 years, however extention of the lease is likely to be taken to 9 years. |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank |
equally with unsecured creditors. |
9. | CONTROL |
The LLP is controlled by its designated members, which remains unchanged from the prior year. |