Registered number
OC449646
Essem Electrical Contractors LLP
Filleted Accounts
31 March 2024
Essem Electrical Contractors LLP
Registered number: OC449646
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 20,408
Current assets
Cash at bank and in hand 247
Creditors: amounts falling due within one year 4 3,507
Net current assets 3,754
Total assets less current liabilities 24,162
Net assets attributable to members 24,162
Represented by:
Loans and other debts due to members 5 24,162
24,162
Total members' interests
Loans and other debts due to members 5 24,162
24,162
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 12 February 2025 and signed on their behalf by:
S Mclaughlin
Designated member
Essem Electrical Contractors LLP
Notes to the Accounts
for the period from 25 October 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024
Number
Average number of persons employed by the LLP 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 10,064 12,200 22,264
At 31 March 2024 10,064 12,200 22,264
Depreciation
Charge for the period 839 1,017 1,856
At 31 March 2024 839 1,017 1,856
Net book value
At 31 March 2024 9,225 11,183 20,408
4 Creditors: amounts falling due within one year 2024
£
Other taxes and social security costs (3,507)
5 Loans and other debts due to members 2024
£
Loans from members 33,740
Amounts due to members in respect of profits (9,578)
24,162
Amounts falling due within one year 24,162
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Essem Electrical Contractors LLP is a limited liability partnership incorporated in England. Its registered office is:
18 Pembroke Road
Bristol
Avon
BS15 1XG
Essem Electrical Contractors LLP OC449646 false 2023-10-25 2024-03-31 2024-03-31 VT Final Accounts April 2024 S Mclaughlin No description of principal activity OC449646 2023-10-25 2024-03-31 OC449646 bus:LimitedLiabilityPartnershipLLP 2023-10-25 2024-03-31 OC449646 bus:AuditExemptWithAccountantsReport 2023-10-25 2024-03-31 OC449646 bus:PartnerLLP20 2023-10-25 2024-03-31 OC449646 3 2023-10-25 2024-03-31 OC449646 1 2023-10-25 2024-03-31 OC449646 2 2023-10-25 2024-03-31 OC449646 4 2023-10-25 2024-03-31 OC449646 core:PlantMachinery 2023-10-25 2024-03-31 OC449646 core:Vehicles 2023-10-25 2024-03-31 OC449646 countries:England 2023-10-25 2024-03-31 OC449646 bus:FRS102 2023-10-25 2024-03-31 OC449646 bus:FilletedAccounts 2023-10-25 2024-03-31 OC449646 2024-03-31 OC449646 core:WithinOneYear 2024-03-31 OC449646 1 2024-03-31 OC449646 core:PlantMachinery 2024-03-31 OC449646 core:Vehicles 2024-03-31 OC449646 2023-10-24 iso4217:GBP xbrli:pure