REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024 |
FOR |
LANCASTER CONSULTING LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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: |
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: |
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 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
LANCASTER CONSULTING LLP (REGISTERED NUMBER: OC380635) |
STATEMENT OF FINANCIAL POSITION |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
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 |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
Computer equipment | - |
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 |
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 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 April 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Accrued income |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
VAT |
Accrued expenses |
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. |