Silverfin false 31/03/2024 01/04/2023 31/03/2024 John William Freeman 23/02/2024 18/02/2016 Stephen Thomas Freeman 18/02/2016 Zoe Ann Mewes 29/10/2024 18/02/2016 20 January 2025 OC404394 2024-03-31 OC404394 bus:Director1 2024-03-31 OC404394 bus:Director2 2024-03-31 OC404394 bus:Director3 2024-03-31 OC404394 2023-03-31 OC404394 core:CurrentFinancialInstruments 2024-03-31 OC404394 core:CurrentFinancialInstruments 2023-03-31 OC404394 core:Non-currentFinancialInstruments 2024-03-31 OC404394 core:Non-currentFinancialInstruments 2023-03-31 OC404394 core:Vehicles 2023-03-31 OC404394 core:Vehicles 2024-03-31 OC404394 2023-04-01 2024-03-31 OC404394 bus:FullAccounts 2023-04-01 2024-03-31 OC404394 bus:SmallEntities 2023-04-01 2024-03-31 OC404394 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC404394 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC404394 bus:Director1 2023-04-01 2024-03-31 OC404394 bus:Director2 2023-04-01 2024-03-31 OC404394 bus:Director3 2023-04-01 2024-03-31 OC404394 core:Vehicles core:BottomRangeValue 2023-04-01 2024-03-31 OC404394 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 OC404394 2022-04-01 2023-03-31 OC404394 core:Vehicles 2023-04-01 2024-03-31 OC404394 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC404394 (England and Wales)

STEVENS PARTNERS LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

STEVENS PARTNERS LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

STEVENS PARTNERS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
STEVENS PARTNERS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 7,609
0 7,609
Current assets
Debtors 4 105,300 253,474
Cash at bank and in hand 42,109 22,414
147,409 275,888
Creditors: amounts falling due within one year 5 ( 592,661) ( 418,700)
Net current liabilities (445,252) (142,812)
Total assets less current liabilities (445,252) (135,203)
Creditors: amounts falling due after more than one year 6 0 ( 24,237)
Net liabilities attributable to members ( 445,252) ( 159,440)
Represented by
Loans and other debts due to members within one year
Other amounts (445,252) (159,440)
(445,252) (159,440)
Members' other interests
0 0
(445,252) (159,440)
Total members' interests
Loans and other debts due to members (445,252) (159,440)
(445,252) (159,440)

For the financial year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

Stevens Partners LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Stevens Partners LLP (registered number: OC404394) were approved and authorised for issue by the Board of Directors on 20 January 2025. They were signed on its behalf by:

Stephen Thomas Freeman
Designated member
STEVENS PARTNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
STEVENS PARTNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stevens Partners LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Unit Q2 The Quadrant Distribution Centre, Quadrant Way, Hardwicke, GL2 2RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the partners made the decision that the LLP would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The partners have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the LLP's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 3 3

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 April 2023 85,398 85,398
Disposals ( 85,398) ( 85,398)
At 31 March 2024 0 0
Accumulated depreciation
At 01 April 2023 77,789 77,789
Charge for the financial year 7,609 7,609
Disposals ( 85,398) ( 85,398)
At 31 March 2024 0 0
Net book value
At 31 March 2024 0 0
At 31 March 2023 7,609 7,609

4. Debtors

2024 2023
£ £
Trade debtors 18,000 18,000
Other debtors 87,300 235,474
105,300 253,474

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 9,096
Other taxation and social security 25,569 12,988
Other creditors 567,092 396,616
592,661 418,700

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 24,237

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

The LLP maintains interest free loan accounts which are unsecured and repayable on demand to entities controlled by the members.