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Company No: OC356056 (England and Wales)

MACLAREN & PARTNERS LLP

Unaudited Financial Statements
For the financial period from 01 July 2023 to 31 March 2024
Pages for filing with the registrar

MACLAREN & PARTNERS LLP

Unaudited Financial Statements

For the financial period from 01 July 2023 to 31 March 2024

Contents

MACLAREN & PARTNERS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
MACLAREN & PARTNERS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024 30.06.2023
£ £
Fixed assets
Tangible assets 3 2,719 2,216
Investments 4 75,000 75,000
77,719 77,216
Current assets
Debtors 5 10,180 0
Cash at bank and in hand 107,183 257,123
117,363 257,123
Creditors: amounts falling due within one year 6 ( 10,237) ( 11,506)
Net current assets 107,126 245,617
Total assets less current liabilities 184,845 322,833
Net assets attributable to members 184,845 322,833
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

For the financial 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.

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: OC356056) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

D Maclaren
Designated member
MACLAREN & PARTNERS LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial period from 01 July 2023 to 31 March 2024
MACLAREN & PARTNERS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial period from 01 July 2023 to 31 March 2024
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
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

MACLAREN & PARTNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2023 to 31 March 2024
MACLAREN & PARTNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2023 to 31 March 2024
1. Accounting policies

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.

General information and basis of accounting

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

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised in the period to which it relates.

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:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The LLP as lessee
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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

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.

2. Employees

Period from
01.07.2023 to
31.03.2024
Year ended
30.06.2023
Number Number
Monthly average number of persons employed by the LLP during the period 4 4

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 23,043 23,043
Additions 2,438 2,438
At 31 March 2024 25,481 25,481
Accumulated depreciation
At 01 July 2023 20,827 20,827
Charge for the financial period 1,935 1,935
At 31 March 2024 22,762 22,762
Net book value
At 31 March 2024 2,719 2,719
At 30 June 2023 2,216 2,216

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 75,000 75,000
At 31 March 2024 75,000 75,000
Carrying value at 31 March 2024 75,000 75,000
Carrying value at 30 June 2023 75,000 75,000

5. Debtors

31.03.2024 30.06.2023
£ £
Trade debtors 2,143 0
Prepayments 7,053 0
Other debtors 984 0
10,180 0

6. Creditors: amounts falling due within one year

31.03.2024 30.06.2023
£ £
Trade creditors 35 44
Accruals 933 672
Other taxation and social security 9,269 10,790
10,237 11,506

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.03.2024 30.06.2023
£ £
within one year 24,200 24,200
between one and five years 6,050 0
30,250 24,200