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REGISTERED NUMBER: OC308889 (England and Wales)















Financial Statements for the Year Ended 30 September 2024

for

P A ASSET MANAGEMENT LLP

P A ASSET MANAGEMENT LLP (Registered number: OC308889)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P A ASSET MANAGEMENT LLP

General Information
for the Year Ended 30 September 2024







DESIGNATED MEMBERS: A M Daniels
C J Daniels





REGISTERED OFFICE: Bowcliffe Court
Bowcliffe Hall
Bramham
Wetherby
West Yorkshire
LS23 6LW





REGISTERED NUMBER: OC308889 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

P A ASSET MANAGEMENT LLP (Registered number: OC308889)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,751 4,213

CURRENT ASSETS
Debtors 5 7,996 9,237
Cash at bank 56,134 51,809
64,130 61,046
CREDITORS
Amounts falling due within one year 6 1,838 1,800
NET CURRENT ASSETS 62,292 59,246
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

65,043

63,459

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

65,043

63,459

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 65,043 63,459

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 September 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.

P A ASSET MANAGEMENT LLP (Registered number: OC308889)

Balance Sheet - continued
30 September 2024


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 6 January 2025 and were signed by:




A M Daniels - Designated member




C J Daniels - Designated member


P A ASSET MANAGEMENT LLP (Registered number: OC308889)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

P A ASSET MANAGEMENT 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 commissions received from the sale of financial products.

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
Computer equipment - 33% on cost

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.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 11,617 7,243 18,860
DEPRECIATION
At 1 October 2023 9,139 5,508 14,647
Charge for year 372 1,090 1,462
At 30 September 2024 9,511 6,598 16,109
NET BOOK VALUE
At 30 September 2024 2,106 645 2,751
At 30 September 2023 2,478 1,735 4,213

P A ASSET MANAGEMENT LLP (Registered number: OC308889)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 7,996 9,237

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 1,838 1,800

7. 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. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.