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REGISTERED NUMBER: OC317460 (England and Wales)



















DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

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










Page

General Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DESIGNATED MEMBERS: Mr N Jackson
Mr T Parkes





REGISTERED OFFICE: 24 The Green
Findern
Derby
DE65 6AA





REGISTERED NUMBER: OC317460 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,515 811

CURRENT ASSETS
Debtors 5 4,892 5,255
Cash at bank 38,028 36,575
42,920 41,830
CREDITORS
Amounts falling due within one year 6 8,607 8,743
NET CURRENT ASSETS 34,313 33,087
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

36,828

33,898

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

16,228

13,298

MEMBERS' OTHER INTERESTS
Capital accounts 20,600 20,600
36,828 33,898

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 16,228 13,298
Members' other interests 20,600 20,600
36,828 33,898

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 April 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.

DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

BALANCE SHEET - continued
30 APRIL 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 16 December 2024 and were signed by:





Mr N Jackson - Designated member

DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

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


1. STATUTORY INFORMATION

Derbyshire Independent Financial Advisers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 33% on cost
Fixtures and fittings - 25% 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.

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with the LLP SORP and section 22 of Section 1A of Financial Reporting Standard 102 (FRS102 1A) issued by the Financial Reporting Council. 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 members' 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 year end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as 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'.

DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

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


2. ACCOUNTING POLICIES - continued

Members' capital
Due to the LLP becoming directly regulated from 22 September 2014, capital introduced, which had previously been incorporated into members' current accounts, has been separately disclosed as members' capital accounts.

An amount representing capital may be withdrawn from a member's capital account only if:

- he ceases to be a member and an equal amount is transferred to another such account by his former fellow members or any person replacing him as a member;

- the LLP is wound up or otherwise dissolved;

- the LLP ceases to be authorised by the Financial Conduct authority or no longer has a Part 4A permission under the Financial Services and Markets Act 2000; or

- the LLP has successfully applied to the Financial Conduct Authority for a waiver permitting the repayment of members' capital.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 3,690 3,459 5,649 12,798
Additions - 562 1,836 2,398
At 30 April 2024 3,690 4,021 7,485 15,196
DEPRECIATION
At 1 May 2023 3,690 3,230 5,067 11,987
Charge for year - 117 577 694
At 30 April 2024 3,690 3,347 5,644 12,681
NET BOOK VALUE
At 30 April 2024 - 674 1,841 2,515
At 30 April 2023 - 229 582 811

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,892 5,255

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 8,607 8,743

DERBYSHIRE INDEPENDENT
FINANCIAL ADVISERS LLP (REGISTERED NUMBER: OC317460)

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


7. LOANS AND OTHER DEBTS DUE TO MEMBERS

If the LLP is wound up, and a surplus sum remains at the conclusion of the winding up, after payment of all money due to the creditors of the LLP and all monies due to the Members and all expenses of the winding up, the liquidator shall pay that surplus to the Members.

8. ULTIMATE CONTROLLING PARTY

The LLP is controlled by the two members equally.