Company No:
Contents
Note | 31.03.2024 | 30.06.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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77,719 | 77,216 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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117,363 | 257,123 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 107,126 | 245,617 | ||
Total assets less current liabilities | 184,845 | 322,833 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Other amounts | 184,845 | 322,833 | ||
184,845 | 322,833 | |||
Members' other interests | ||||
0 | 0 | |||
184,845 | 322,833 | |||
Total members' interests | ||||
Loans and other debts due to members | 184,845 | 322,833 | ||
184,845 | 322,833 |
Members' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Maclaren & Partners LLP (registered number:
D Maclaren
Designated member |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |
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Other amounts | Total | |
£ | £ | |
Amounts due to members | 466,512 | |
Balance at 01 July 2022 | 466,512 | 466,512 |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 644,792 | 644,792 |
Members' interest after result for the financial period/year | 1,111,304 | 1,111,304 |
Drawings | (838,711) | (838,711) |
Amounts introduced by members | 50,240 | 50,240 |
Amounts due to members | 322,833 | |
Balance at 30 June 2023 | 322,833 | 322,833 |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 195,873 | 195,873 |
Members' interest after result for the financial period/year | 518,706 | 518,706 |
Drawings | (370,827) | (370,827) |
Amounts introduced by members | 36,966 | 36,966 |
Amounts due to members | 184,845 | |
Balance at 31 March 2024 | 184,845 | 184,845 |
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 period and to the preceding financial year, unless otherwise stated.
Maclaren & Partners 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 Suite 4 56 Queen Anne Street, London, W1G 8LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised in the period to which it relates.
Office 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.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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.
Period from 01.07.2023 to 31.03.2024 |
Year ended 30.06.2023 |
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Number | Number | ||
Monthly average number of persons employed by the LLP during the period |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||
At 01 July 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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At 30 June 2023 |
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Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 July 2023 |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 30 June 2023 |
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31.03.2024 | 30.06.2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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Other debtors |
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31.03.2024 | 30.06.2023 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Other taxation and social security |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
31.03.2024 | 30.06.2023 | ||
£ | £ | ||
within one year |
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between one and five years |
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