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REGISTERED NUMBER: OC380635 (England and Wales)














REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

FOR

LANCASTER CONSULTING LLP

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 May 2023 to 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 5


LANCASTER CONSULTING LLP

GENERAL INFORMATION
for the Period 1 May 2023 to 31 March 2024







DESIGNATED MEMBERS: Ms C Tonellotto
B Daniel
T F Taylor





REGISTERED OFFICE: Accountancy House
90 Walworth Road
London
SE1 6SW





REGISTERED NUMBER: OC380635 (England and Wales)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)

REPORT OF THE MEMBERS
for the Period 1 May 2023 to 31 March 2024

The members present their report with the financial statements of the LLP for the period 1 May 2023 to 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of the provision of consultancy services.

DESIGNATED MEMBERS
The designated members during the period under review were:

Ms C Tonellotto
B Daniel
T F Taylor

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £248,126 (2023 - £442,931 profit).

MEMBERS' INTERESTS
The capital of the LLP consists of £5,000 received from each member upon being admitted as a member. This will be repaid to each relevant member as and when they leave the LLP.

The distribution of the profits among the members is split into proportions agreed between the partners of 40:40:20. The profits will be divided as agreed between the acting members per each accounting period with any undivided remainder being distributed at the discretion of the LLP at a future date.
Any undivided profit will remain in other reserves until an allocation of profit is decided upon.

Members shall bear any loss for any accounting period in the same proportions as their share of capital in that period.

Each members drawings shall be the sum equal to the invoice price rendered by, and actually paid to, the LLP for the specific work that the member has performed less a 5% contribution to LLP administrative costs.

ON BEHALF OF THE MEMBERS:





B Daniel - Designated member


22 January 2025

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)

INCOME STATEMENT
for the Period 1 May 2023 to 31 March 2024

Period
1.5.23
to Year Ended
31.3.24 30.4.23
Notes £    £   

TURNOVER 622,559 1,025,236

Cost of sales 339,970 568,605
GROSS PROFIT 282,589 456,631

Administrative expenses 34,463 13,700
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




248,126




442,931

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 1,881 -

CURRENT ASSETS
Debtors 7 118,807 339,709
Cash at bank 120,845 170,513
239,652 510,222
CREDITORS
Amounts falling due within one year 8 126,401 286,763
NET CURRENT ASSETS 113,251 223,459
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 115,132 223,459

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

96,366

208,350

MEMBERS' OTHER INTERESTS
Other reserves 18,766 15,109
115,132 223,459

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 96,366 208,350
Members' other interests 18,766 15,109
115,132 223,459

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 period ended 31 March 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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 22 January 2025 and were signed by:





B Daniel - Designated member

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 May 2023 to 31 March 2024

1. STATUTORY INFORMATION

Lancaster Consulting LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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, value 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.
Computer equipment - 33% on cost

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.5.23
to Year Ended
31.3.24 30.4.23
£    £   
Depreciation - owned assets 760 356

5. INFORMATION IN RELATION TO MEMBERS

Period
1.5.23
to Year Ended
31.3.24 30.4.23

The average number of members during the period was 3 3

LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2023 to 31 March 2024

6. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 1,250
Additions 2,641
At 31 March 2024 3,891
DEPRECIATION
At 1 May 2023 1,250
Charge for period 760
At 31 March 2024 2,010
NET BOOK VALUE
At 31 March 2024 1,881
At 30 April 2023 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,484 155,261
Accrued income 45,735 178,385
Prepayments 1,588 6,063
118,807 339,709

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,645 79,090
VAT 18,242 11,574
Accrued expenses 82,514 196,099
126,401 286,763

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 81,366 193,350
Capital account 15,000 15,000
96,366 208,350

Falling due within one year 96,366 208,350

Loans and other debts due to members rank equally with debts due to other creditors in the event of a winding up.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the LLP as all members have equal rights and input to the running of the LLP.