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Broadlands Surveyors LLP
Financial Statements
For the Period 1 November 2022 to 31 March 2024
NORMAN COX & ASHBY
Chartered Accountants
Grosvenor Lodge
72 Grosvenor Road
Tunbridge Wells
Kent, TN1 2AZ
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC402115
31 March 2024 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,650 2,090
2,650 2,090
CURRENT ASSETS
Stocks 5 24,428 12,824
Debtors 6 476 10,671
Cash at bank and in hand 8,000 6,941
32,904 30,436
Creditors: Amounts Falling Due Within One Year 7 (4,203 ) (3,227 )
NET CURRENT ASSETS (LIABILITIES) 28,701 27,209
TOTAL ASSETS LESS CURRENT LIABILITIES 31,351 29,299
NET ASSETS ATTRIBUTABLE TO MEMBERS 31,351 29,299
REPRESENTED BY:
Equity
Members' other interests
Other reserves 31,351 29,299
31,351 29,299
TOTAL MEMBERS' INTEREST
Members' other interests 31,351 29,299
31,351 29,299
Page 1
Page 2
For the period ending 31 March 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
The financial statements were approved by the members on 5 April 2024 and were signed on their behalf by:
R T Verrell
Designated Member
R E Verrell
Designated Member
05/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Broadlands Surveyors LLP is a limited liability partnership, incorporated in England & Wales, registered number OC402115 . The Registered Office is Grosvenor Lodge, 72 Grosvenor Road, Tunbridge Wells, Kent, TN1 2AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% per annum, on net book value
Fixtures & Fittings 20% per annu, on net book value
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2022: NIL)
- -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 - 6,625 6,625
Additions 1,223 - 1,223
As at 31 March 2024 1,223 6,625 7,848
Depreciation
As at 1 November 2022 - 4,535 4,535
Provided during the period 245 418 663
As at 31 March 2024 245 4,953 5,198
Net Book Value
As at 31 March 2024 978 1,672 2,650
As at 1 November 2022 - 2,090 2,090
5. Stocks
31 March 2024 31 October 2022
£ £
Work in progress 24,428 12,824
6. Debtors
31 March 2024 31 October 2022
£ £
Due within one year
Trade debtors - 10,008
Prepayments and accrued income 476 663
476 10,671
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 October 2022
£ £
Other creditors 2 2
Sundry creditors 1,025 -
Accruals and deferred income 3,176 3,225
4,203 3,227
Page 4
Page 5
8. Related Party Transactions
Members' Transactions
During the period, the members used an area of their home as an office. The charge in the financial statements amounted to £1,539 (2022: £1,367).
Page 5