Limited Liability Partnership registration number OC366379 (England and Wales)
RELATIVE MARKETING & CREATIVE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
RELATIVE MARKETING & CREATIVE LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RELATIVE MARKETING & CREATIVE LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
20,532
26,069
Current assets
Stocks
27,416
24,722
Debtors
4
121,064
69,793
Cash at bank and in hand
116,549
138,471
265,029
232,986
Creditors: amounts falling due within one year
5
(261,979)
(231,733)
Net current assets
3,050
1,253
Total assets less current liabilities
23,582
27,322
Creditors: amounts falling due after more than one year
6
(22,294)
(22,500)
Net assets attributable to members
1,288
4,822
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
1,288
4,822

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 20 January 2025 and are signed on their behalf by:
20 January 2025
R Barlow
Designated member
Limited Liability Partnership Registration No. OC366379
RELATIVE MARKETING & CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Relative Marketing & Creative LLP is a limited liability partnership incorporated in England and Wales. The registered office is Suite 109, Thrive, Miller House, 47-49 Market Street, Farnworth, Bolton, BL4 7NS.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
25% reducing balance basis
Motor vehicles
20% reducing balance basis

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 recognised in the profit and loss account.

RELATIVE MARKETING & CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.6
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
6
6
RELATIVE MARKETING & CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Office equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
36,839
21,000
57,839
Depreciation and impairment
At 1 April 2023
30,370
1,400
31,770
Depreciation charged in the year
1,617
3,920
5,537
At 31 March 2024
31,987
5,320
37,307
Carrying amount
At 31 March 2024
4,852
15,680
20,532
At 31 March 2023
6,469
19,600
26,069
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
119,989
69,117
Other debtors
1,075
676
121,064
69,793
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
198,337
169,618
Taxation and social security
19,575
15,372
Other creditors
34,067
36,743
261,979
231,733
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
22,294
22,500
RELATIVE MARKETING & CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2024-03-312023-04-01falsefalse20 January 2025CCH SoftwareCCH Accounts Production 2024.310falseOC3663792023-04-012024-03-31OC3663792024-03-31OC366379bus:PartnerLLP22023-04-012024-03-31OC3663792022-04-012023-03-31OC366379bus:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC366379bus:FRS1022023-04-012024-03-31OC366379bus:AuditExemptWithAccountantsReport2023-04-012024-03-31OC366379bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC366379bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:shares