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REGISTERED NUMBER: OC370985 (England and Wales)
















Unaudited Financial Statements

for the Period 1 January 2024 to 31 March 2024

for

PITTALIS LLP

PITTALIS LLP (REGISTERED NUMBER: OC370985)






Contents of the Financial Statements
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PITTALIS LLP

General Information
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2024







DESIGNATED MEMBERS: M.R. Pittalis
R.R. Pittalis





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: OC370985 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

PITTALIS LLP (REGISTERED NUMBER: OC370985)

Statement of Financial Position
31 MARCH 2024

31/3/24 31/12/23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 22,441 23,467

CURRENT ASSETS
Work in progress 35,966 41,186
Debtors 5 330,469 353,480
Cash at bank and in hand 8,669 550
375,104 395,216
CREDITORS
Amounts falling due within one year 6 50,412 52,899
NET CURRENT ASSETS 324,692 342,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,133

365,784

CREDITORS
Amounts falling due after more than one
year

7

30,772

33,210
NET ASSETS ATTRIBUTABLE TO
MEMBERS

316,361

332,574

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

316,361

332,574

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 316,361 332,574
Amounts due from members 5 (100,847 ) (93,960 )
215,514 238,614

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 period 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.

PITTALIS LLP (REGISTERED NUMBER: OC370985)

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 January 2025 and were signed by:




R.R. Pittalis - Designated member




M.R. Pittalis - Designated member


PITTALIS LLP (REGISTERED NUMBER: OC370985)

Notes to the Financial Statements
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Pittalis 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.

Turnover
Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the clients.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 20% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses

Work in progress
Work in progress is valued on the basis of work done by the year end not yet invoiced.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 4 (2023 - 4 ) .

PITTALIS LLP (REGISTERED NUMBER: OC370985)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 January 2024
and 31 March 2024 36,587 63,889 23,988 124,464
DEPRECIATION
At 1 January 2024 31,487 52,097 17,413 100,997
Charge for period 255 442 329 1,026
At 31 March 2024 31,742 52,539 17,742 102,023
NET BOOK VALUE
At 31 March 2024 4,845 11,350 6,246 22,441
At 31 December 2023 5,100 11,792 6,575 23,467

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/12/23
£ £
Trade debtors 98,507 112,226
Amounts due from members 100,847 93,960
Other debtors 131,115 131,115
Prepayments - 16,179
330,469 353,480

Other debtors above represents funds owed by a former member of the LLP.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/12/23
£ £
Bank loans and overdrafts (see note 8) 3,047 1,416
PAYE 4,407 3,988
Pension control 510 537
VAT 36,629 39,958
Accrued expenses 5,819 7,000
50,412 52,899

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/12/23
£ £
Bank loans (see note 8) 30,772 33,210

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instalments 30,772 33,210

PITTALIS LLP (REGISTERED NUMBER: OC370985)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2024

8. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/12/23
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 3,047 1,416

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instalments 30,772 33,210

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31/3/24 31/12/23
£ £
Amounts owed to members in respect of profits 316,361 332,574

Falling due within one year 316,361 332,574

In the event of a winding up of the LLP, amounts classified as 'other debts due to members' would rank behind other non-secured creditors. There are no restrictions that exist on the ability of members to reduce the amounts classified as 'members' capital'.

Members have agreed not to take cash drawings where this would conflict with the adequacy of the working capital of the LLP.