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REGISTERED NUMBER: OC326258 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ACUITY PROFESSIONAL PARTNERSHIP LLP

ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Work in progress 94,008 439,097
Debtors 4 819,004 1,255,984
Cash at bank and in hand 94,428 35,909
1,007,440 1,730,990
CREDITORS
Amounts falling due within one year 5 938,301 1,595,212
NET CURRENT ASSETS 69,139 135,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,139

135,778

CREDITORS
Amounts falling due after more than one
year

6

12,500

22,500
NET ASSETS ATTRIBUTABLE TO
MEMBERS

56,639

113,278

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 56,639 113,278
56,639 113,278

TOTAL MEMBERS' INTERESTS
Members' other interests 56,639 113,278

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 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.

ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 24 January 2025 and were signed by:





Mr S D McGreevy - Designated member

ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

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

TURNOVER
Turnover comprises the value of consideration receivable from the customer for the rendering of services, net of value-added tax (VAT) rebates and discounts.

WORK IN PROGRESS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.

Debt instruments are subsequently carried at amortized cost, using the effective interest rate method.

ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

3. EMPLOYEE INFORMATION

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 688,167 517,863
Amounts owed by group undertakings 48,228 716,001
Other debtors 45,675 9,383
Prepayments and accrued income 36,934 12,737
819,004 1,255,984

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 353,367 551,667
Trade creditors 127,568 46,828
Other creditors 359,116 295,934
Due to Members 47,951 27,274
Accrued expenses 50,299 673,509
938,301 1,595,212

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 7) 12,500 22,500

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 353,367 551,667

ACUITY PROFESSIONAL PARTNERSHIP LLP (REGISTERED NUMBER: OC326258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 12,500 22,500