TDK Commercial Property Consultants LLP
Filleted Unaudited Finanical Statements
31 March 2024
Company registration number: NC001604
TDK Commercial Property Consultants LLP
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,421 1,895
Current assets
Debtors 4 92,063 91,620
Cash at bank and in hand 116,596 233,719
208,659 325,339
Creditors: amounts falling due within one year 5 (157,731) (218,735)
Net current assets 50,928 106,604
Total assets less current liabilities 52,349 108,499
Net assets attributable to members 52,349 108,499
Represented by:
Total members' interests
Members' interests 52,349 108,499
52,349 108,499
For the year 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 financial statements are prepared in accordance with the micro-entity provisions of Regulation 12 of the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (SI 2008/1991) and FRS 105 - The financial reporting standard applicable to the Micro-entities Regime (March (2018).
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 24 March 2025 and signed on their behalf by:
Mr S Deyemond Ms T McKeown
Designated member Designated member
Mr M Thallon
Designated member
Registration number: NC001604
TDK Commercial Property Consultants LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The financial statements are prepared in accordance with the micro-entity provisions of Regulation 12 of the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (SI 2008/1991) and FRS 105 - The financial reporting standard applicable to the Micro-entities Regime (March (2018).
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:
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 7 7
3 Tangible fixed assets
Computer equipment Total
£ £
Cost
At 1 April 2023 2,369 2,369
At 31 March 2024 2,369 2,369
Depreciation
At 1 April 2023 474 474
Charge for the year 474 474
At 31 March 2024 948 948
Net book value
At 31 March 2024 1,421 1,421
At 31 March 2023 1,895 1,895
4 Debtors 2024 2023
£ £
Trade debtors 82,841 89,609
Other debtors 9,222 2,011
92,063 91,620
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 32,946
Trade creditors 17,302 8,143
Other taxes and social security costs 54,176 93,068
Other creditors 17,553 16,296
Accruals 68,700 68,282
157,731 218,735
6 Other information
TDK Commercial Property Consultants LLP is a limited liability partnership incorporated in England. Its registered office is:
85 Victoria Street
Belfast
BT1 4PB
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