REGISTERED NUMBER: |
PCSP LLP |
Financial Statements For The Year Ended 30 June 2024 |
REGISTERED NUMBER: |
PCSP LLP |
Financial Statements For The Year Ended 30 June 2024 |
PCSP LLP (Registered number: OC325472) |
Contents of the Financial Statements |
For The Year Ended 30 June 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 6 |
PCSP LLP |
General Information |
For The Year Ended 30 June 2024 |
DESIGNATED MEMBERS: |
K.D.M. Partners LLP |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
23a Church Road |
Parkstone |
Poole |
Dorset |
BH14 8UF |
PCSP LLP (Registered number: OC325472) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
670,132 |
689,132 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
157,132 |
176,132 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 513,000 | 513,000 |
670,132 | 689,132 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 157,132 | 176,132 |
Members' other interests | 513,000 | 513,000 |
Amounts due from members | 6 | (534,286 | ) | (507,079 | ) |
135,846 | 182,053 |
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. |
PCSP LLP (Registered number: OC325472) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
PCSP LLP (Registered number: OC325472) |
Notes to the Financial Statements |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
PCSP LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Revaluations | (50,000 | ) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
PCSP LLP (Registered number: OC325472) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2017 | 775,000 |
Valuation in 2019 | (25,000 | ) |
Valuation in 2023 | (450,000 | ) |
Valuation in 2024 | (50,000 | ) |
250,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 585,498 | 585,498 |
The investment property was valued on an open market basis on 30 June 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Loans from members | 157,132 | 176,132 |
Falling due within one year | 157,132 | 176,132 |
Loans and other debts due to members (other than members' capital classified as debt) would rank after other creditors in the event of a liquidation. |
Chartered Certified Accountants' Report to the Members |
on the Unaudited Financial Statements of |
PCSP LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of PCSP LLP for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the members of PCSP LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PCSP LLP and state those matters that we have agreed to state to the members of PCSP LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that PCSP LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of PCSP LLP. You consider that PCSP LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of PCSP LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
23a Church Road |
Parkstone |
Poole |
Dorset |
BH14 8UF |