Registered No. OC426498 (England and Wales)
JP Private Clients 2019 LLP
Unaudited accounts
for the period from 1 April 2023 to 29 March 2024
JP Private Clients 2019 LLP
LLP Information
for the period from 1 April 2023 to 29 March 2024
Designated members
Ms R Noot
Registered Number
OC426498 (England and Wales)
Registered Office
Brook House
Main Avenue
Peterston-Super-Ely
Cardiff
CF5 6LQ
Wales
Accountants
Optimum Tax and Accounting Ltd
4 Glasshouse Studios
Fryern Court Road
Hants
SP6 1QX
JP Private Clients 2019 LLP
Statement of financial position
as at 29 March 2024
Intangible assets
253,996
302,275
Tangible assets
20,316
19,093
Cash at bank and in hand
2,282
33,989
Creditors: amounts falling due within one year
(354,905)
(704,538)
Net current liabilities
(351,068)
(670,549)
Total assets less current liabilities
(73,274)
(349,181)
Creditors: amounts falling due after more than one year
(435,949)
-
Net liabilities attributable to members
(509,223)
(349,181)
Loans and other debts due to members
(509,223)
(349,181)
Loans and other debts due to members
(509,223)
(349,181)
For the period ending 29 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 20 February 2025.
Mr J C Price
Designated member
Limited Liability Partnership Registration No. OC426498
JP Private Clients 2019 LLP
Notes to the Accounts
for the period from 1 April 2023 to 29 March 2024
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 & 5 yr SLM
Computer equipment
3 & 5 yr SLM
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.
All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.
Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
JP Private Clients 2019 LLP is a limited liability partnership, incorporated in England and Wales, registration number OC426498. Its registered office is Brook House, Main Avenue, Peterston-Super-Ely, Cardiff, CF5 6LQ, Wales.
JP Private Clients 2019 LLP
Notes to the Accounts
for the period from 1 April 2023 to 29 March 2024
3
Intangible fixed assets
Goodwill
Other
Total
At 1 April 2023
482,792
12,600
495,392
At 29 March 2024
482,792
12,600
495,392
At 1 April 2023
193,117
-
193,117
Charge for the period
48,279
-
48,279
At 29 March 2024
241,396
-
241,396
At 29 March 2024
241,396
12,600
253,996
At 31 March 2023
289,675
12,600
302,275
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
34,119
14,976
49,095
At 29 March 2024
34,119
34,523
68,642
At 1 April 2023
20,246
9,756
30,002
Charge for the period
7,755
10,569
18,324
At 29 March 2024
28,001
20,325
48,326
At 29 March 2024
6,118
14,198
20,316
At 31 March 2023
13,873
5,220
19,093
5
Investments
Other investments
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
111,480
584,989
Trade creditors
228,939
111,001
Taxes and social security costs
8,366
2,428
JP Private Clients 2019 LLP
Notes to the Accounts
for the period from 1 April 2023 to 29 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
8
Loans and other debts due to members
2024
2023
Loans from members
(509,223)
(349,181)
Amounts falling due within one year
(509,223)
(349,181)
9
Average number of employees
During the period the average number of employees was 2 (2023: 2).