Plus Minus LLP |
Members' Report |
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The members present their report and accounts for the year ended 31 March 2024. |
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Principal activities |
The LLP's principal activity during the year continued to be that of providing accounting, tax and corporate services |
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Designated members |
The following persons served as designated members during the year: |
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Appointment |
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Mr Sukumar Saha |
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02/07/2009 |
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Mr Samar Saha |
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21/10/2019 |
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Policy with respect to members' drawings and subscription and repayment of members' capital |
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amount of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members. |
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Company law requires the members to prepare accounts for each financial year. Under that law the members have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the members must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these accounts, the members are required to: |
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select suitable accounting policies and then apply them consistently; |
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make judgements and estimates that are reasonable and prudent; |
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
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The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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This report was approved by the members on 30 December 2024 and signed on their behalf by: |
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Mr Sukumar saha |
Mr Samar Saha |
Designated member |
Designated member |
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Plus Minus LLP |
Registered number: OC346888 |
Balance Sheet |
as at 31 March 2024 |
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Notes |
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2024 |
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2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
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6,558 |
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7,773 |
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6,558 |
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7,773 |
Current assets |
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Debtors |
4 |
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19,247 |
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23,225 |
Investments HL |
8 |
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45,449 |
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67,551 |
Cash at bank and in hand |
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4,036 |
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7,989 |
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68,732 |
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98,765 |
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Creditors: amounts falling due within one year |
5 |
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(21,947) |
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(39,869) |
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Net current assets |
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46,785 |
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58,896 |
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Total assets less current liabilities |
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53,343 |
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66,669 |
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Creditors: amounts falling due after more than one year |
6 |
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(25,820) |
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(34,333) |
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Net assets attributable to members |
27,523 |
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32,336 |
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Total members' interests |
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10 |
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10 |
Members' capital |
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32,326 |
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50,288 |
Reserves |
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24,781 |
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8,366 |
Drawings |
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(29,594) |
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(26,328) |
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27,523 |
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32,336 |
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For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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These accounts were approved by the members on 30 December 2024 and signed on their behalf by: |
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Mr Sukumar saha |
Mr Samar Saha |
Designated member |
Designated member |
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Plus Minus LLP |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Members' capital |
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Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the LLP |
5 |
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5 |
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3 |
Tangible fixed assets |
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Furniture & Fixtures |
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Office equipment |
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Total |
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£ |
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Cost |
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At 1 April 2023 |
1,669 |
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11,120 |
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12,789 |
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Additions |
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425 |
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425 |
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Revaluation |
- |
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Disposals |
- |
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- |
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- |
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At 31 March 2024 |
1,669 |
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11,545 |
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13,214 |
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Depreciation |
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At 1 April 2023 |
601 |
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4,415 |
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5,016 |
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Charge for the year |
214 |
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1,426 |
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1,640 |
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Revaluation |
- |
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On disposals |
- |
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- |
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- |
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At 31 March 2024 |
815 |
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5,841 |
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6,656 |
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Net book value |
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At 31 March 2024 |
854 |
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5,704 |
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6,558 |
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At 31 March 2023 |
1,068 |
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6,705 |
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7,773 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
1,338 |
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10,338 |
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Other debtors - Plus Minus Ltd |
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9,555 |
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4,033 |
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Prepayments & accrued income |
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8,354 |
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8,354 |
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Other debtors |
- |
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500 |
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19,247 |
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23,225 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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PAYE & pension |
1,272 |
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2,133 |
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VAT payable |
8,985 |
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8,947 |
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Advance fees |
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9,800 |
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Other creditors |
6,043 |
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11,849 |
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Accruals |
2,947 |
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7,140 |
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21,947 |
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39,869 |
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6 |
Creditors: amounts falling due after one year |
2024 |
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2023 |
£ |
£ |
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Bank loan |
25,820 |
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34,333 |
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25,820 |
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34,333 |
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7 |
Other information |
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Plus Minus LLP is a limited liability partnership incorporated in England. Its registered office is: |
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Unit 2 |
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5 Baldwin Street |
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London |
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EC1V 9NU |
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