Silverfin false 30/04/2024 01/05/2023 30/04/2024 N Bignall 01/05/2020 T Hegan 01/05/2015 C Hill 30/04/2024 01/05/2012 O Smith 01/05/2024 28 January 2025 OC373392 2024-04-30 OC373392 bus:Director1 2024-04-30 OC373392 bus:Director2 2024-04-30 OC373392 bus:Director3 2024-04-30 OC373392 bus:Director4 2024-04-30 OC373392 2023-04-30 OC373392 core:CurrentFinancialInstruments 2024-04-30 OC373392 core:CurrentFinancialInstruments 2023-04-30 OC373392 core:FurnitureFittings 2023-04-30 OC373392 core:ComputerEquipment 2023-04-30 OC373392 core:FurnitureFittings 2024-04-30 OC373392 core:ComputerEquipment 2024-04-30 OC373392 2023-05-01 2024-04-30 OC373392 bus:FullAccounts 2023-05-01 2024-04-30 OC373392 bus:SmallEntities 2023-05-01 2024-04-30 OC373392 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC373392 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC373392 bus:Director1 2023-05-01 2024-04-30 OC373392 bus:Director2 2023-05-01 2024-04-30 OC373392 bus:Director3 2023-05-01 2024-04-30 OC373392 bus:Director4 2023-05-01 2024-04-30 OC373392 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 OC373392 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 OC373392 2022-05-01 2023-04-30 OC373392 core:FurnitureFittings 2023-05-01 2024-04-30 OC373392 core:ComputerEquipment 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: OC373392 (England and Wales)

TURNER MORUM LLP

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TURNER MORUM LLP

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TURNER MORUM LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 30 April 2024
TURNER MORUM LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 30 April 2024
DESIGNATED MEMBERS N Bignall
T Hegan
C Hill (Resigned 30 April 2024)
O Smith (Appointed 01 May 2024)
REGISTERED OFFICE 32-33 Cowcross Street
London
England
EC1M 6DF
London
United Kingdom
REGISTERED NUMBER OC373392 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
TURNER MORUM LLP

BALANCE SHEET

As at 30 April 2024
TURNER MORUM LLP

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 13,920 9,677
13,920 9,677
Current assets
Stocks 299,334 0
Debtors 5 2,033,797 1,745,994
Cash at bank and in hand 593,430 871,698
2,926,561 2,617,692
Creditors: amounts falling due within one year 6 ( 691,913) ( 596,694)
Net current assets 2,234,648 2,020,998
Total assets less current liabilities 2,248,568 2,030,675
Net assets attributable to members 2,248,568 2,030,675
Represented by
Loans and other debts due to members within one year
Other amounts 2,248,568 2,030,675
2,248,568 2,030,675
Members' other interests
0 0
2,248,568 2,030,675
Total members' interests
Loans and other debts due to members 2,248,568 2,030,675
2,248,568 2,030,675

For the financial year ending 30 April 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Turner Morum LLP (registered number: OC373392) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

N Bignall
Designated member
T Hegan
Designated member
O Smith
Designated member
TURNER MORUM LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 30 April 2024
TURNER MORUM LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 30 April 2024
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves Other amounts Total
£ £ £
Amounts due to members 1,671,967
Balance at 01 May 2022 0 1,671,967 1,671,967
Profit for the financial year available for discretionary division among members 2,696,317 0 2,696,317
Members' interest after profit for the financial year 2,696,317 1,671,967 4,368,284
Division of profit (2,696,317) 2,696,317 0
Repayment of debt 0 (2,337,609) (2,337,609)
Amounts due to members 2,030,675
Balance at 30 April 2023 0 2,030,675 2,030,675
Profit for the financial year available for discretionary division among members 2,538,396 0 2,538,396
Members' interest after profit for the financial year 2,538,396 2,030,675 4,569,071
Division of profit (2,538,396) 2,538,396 0
Repayment of debt 0 (2,320,503) (2,320,503)
Amounts due to members 2,248,568
Balance at 30 April 2024 0 2,248,568 2,248,568

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

TURNER MORUM LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TURNER MORUM LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Turner Morum 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 32-33 Cowcross Street, London, England, EC1M 6DF, London, United Kingdom.

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable for Chartered Surveyor services net of VAT where applicable.

Any revenue derived from ongoing contracts is recognised to the extent that agreed deliverables have been performed.

Taxation

The taxation payable on the partnership profits is solely the personal liability of the individual members consequently neither partnership taxation nor related deferred taxation arising in respect of the partnership are accounted for in these financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 2 years straight line
Computer equipment 3 years straight line

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

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

Stocks

Work in progress is valued at the lower of cost and amount recoverable from customers.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated recoverability is recognised directly in the closing work in progress in the Profit and Loss account. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The limited liability partnership 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 recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 11 12

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

2024 2023
Number Number
Average number of members during the financial year 3 3

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 May 2023 128,340 256,699 385,039
Additions 3,288 14,562 17,850
Disposals 0 ( 1,358) ( 1,358)
At 30 April 2024 131,628 269,903 401,531
Accumulated depreciation
At 01 May 2023 127,721 247,641 375,362
Charge for the financial year 2,262 10,440 12,702
Disposals 0 ( 453) ( 453)
At 30 April 2024 129,983 257,628 387,611
Net book value
At 30 April 2024 1,645 12,275 13,920
At 30 April 2023 619 9,058 9,677

5. Debtors

2024 2023
£ £
Trade debtors 1,536,870 1,639,792
Other debtors 496,927 106,202
2,033,797 1,745,994

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 66,607 57,487
Other taxation and social security 406,223 416,979
Other creditors 219,083 122,228
691,913 596,694

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 156,000 0

During the year, a new lease for the premises was negotiated with the landlord.

8. Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.