Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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13,920 | 9,677 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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2,926,561 | 2,617,692 | |||
Creditors: amounts falling due within one year | 6 | (
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(
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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 |
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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 |
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:
N Bignall
Designated member |
T Hegan
Designated member |
|
O Smith
Designated member |
EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |
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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
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.
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.
Any revenue derived from ongoing contracts is recognised to the extent that agreed deliverables have been performed.
Fixtures and fittings |
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Computer equipment |
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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.
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.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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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 |
Fixtures and fittings | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 May 2023 |
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Additions |
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Disposals |
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At 30 April 2024 |
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Accumulated depreciation | |||||
At 01 May 2023 |
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Charge for the financial year |
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Disposals |
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At 30 April 2024 |
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Net book value | |||||
At 30 April 2024 |
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At 30 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other taxation and social security |
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Other creditors |
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Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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During the year, a new lease for the premises was negotiated with the landlord.
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.