Exeter Eye LLP OC311911 false 2023-06-01 2024-03-31 2024-03-31 The principal activity of the company is Opthalmic surgery Digita Accounts Production Advanced 6.30.9574.0 true OC311911 2023-06-01 2024-03-31 OC311911 2024-03-31 OC311911 core:CurrentFinancialInstruments 2024-03-31 OC311911 core:WithinOneYear 2024-03-31 OC311911 core:PlantMachinery 2024-03-31 OC311911 bus:SmallEntities 2023-06-01 2024-03-31 OC311911 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-03-31 OC311911 bus:FilletedAccounts 2023-06-01 2024-03-31 OC311911 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 OC311911 bus:RegisteredOffice 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP1 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP2 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP4 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP5 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP6 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP7 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP8 2023-06-01 2024-03-31 OC311911 bus:PartnerLLP9 2023-06-01 2024-03-31 OC311911 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-03-31 OC311911 core:PlantMachinery 2023-06-01 2024-03-31 OC311911 countries:AllCountries 2023-06-01 2024-03-31 OC311911 2023-05-31 OC311911 core:PlantMachinery 2023-05-31 OC311911 2022-06-01 2023-05-31 OC311911 2023-05-31 OC311911 core:CurrentFinancialInstruments 2023-05-31 OC311911 core:WithinOneYear 2023-05-31 OC311911 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure

Registration number: OC311911

Exeter Eye LLP

Filleted Unaudited Financial Statements

for the period from 1 June 2023 to 31 March 2024

 

Exeter Eye LLP

Contents

Limited liability partnership information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Exeter Eye LLP

Limited liability partnership information

Designated members

A G Quinn

D B Byles

P R Simcock

M Smith

Dr F Irvine

Dr H F Von Lany

Mr N D Bowley

Mr C M Ramsden
 

Registered office

Admiral House
Grenadier Road
Exeter Business Park
Exeter
Devon
EX1 3QF

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exeter Eye LLP

(Registration number: OC311911)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

91,288

86,756

Current assets

 

Debtors

4

226,877

421,556

Cash and short-term deposits

 

179,706

104,002

 

406,583

525,558

Creditors: Amounts falling due within one year

5

(286,444)

(416,615)

Net current assets

 

120,139

108,943

Net assets attributable to members

 

211,427

195,699

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

211,427

195,699

   

211,427

195,699

Total members' interests

 

Loans and other debts due to members

 

211,427

195,699

   

211,427

195,699

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Exeter Eye LLP

(Registration number: OC311911)
Balance Sheet as at 31 March 2024

The financial statements of Exeter Eye LLP (registered number OC311911) were approved by the Board and authorised for issue on 21 January 2025. They were signed on behalf of the limited liability partnership by:

.........................................
A G Quinn
Designated member

 

Exeter Eye LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Exeter Eye LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 

Exeter Eye LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

 

Exeter Eye LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 8 (2023 - 8).

 

Exeter Eye LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

3

Tangible fixed assets

Plant and machinery
 £

Total
£

Cost

At 1 June 2023

186,307

186,307

Additions

15,813

15,813

At 31 March 2024

202,120

202,120

Depreciation

At 1 June 2023

99,551

99,551

Charge for the year

11,281

11,281

At 31 March 2024

110,832

110,832

Net book value

At 31 March 2024

91,288

91,288

At 31 May 2023

86,756

86,756

4

Debtors

2024
£

2023
£

Trade debtors

99,680

230,375

Other debtors

102,775

168,387

Prepayments and accrued income

24,422

22,794

Total current trade and other debtors

226,877

421,556

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

241,682

382,412

Other creditors

21,369

21,368

Accruals and deferred income

23,393

7,535

Taxation and social security

-

5,300

286,444

416,615

6

Loans and other debts due to members

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

 

Exeter Eye LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.