REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
JEFFREY ALEXANDER LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
JEFFREY ALEXANDER LLP |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Accountants' Report | 3 |
Profit and Loss Account | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
JEFFREY ALEXANDER LLP |
GENERAL INFORMATION |
for the Year Ended 30 June 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
REPORT OF THE MEMBERS |
for the Year Ended 30 June 2024 |
The members present their report with the financial statements of the LLP for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The principle activity of the LLP in the year under review was that of surveyors. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
JAKB Corporate UK Limited |
Mr N D Maxwell |
Mrs J Maxwell |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £82,256 (2023 - £138,299 profit). |
MEMBERS' INTERESTS |
All members are equity members and share in all the profits and subscribe the entire capital of the LLP. The allocation of profit is determined by the LLP members after the year end. Members draw a proportion of their profit share on a monthly basis during the year in which the profit is made, with the balance, net of tax retention, paid in subsequent years. All payments are subject to the cash requirements of the business. |
ON BEHALF OF THE MEMBERS: |
ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
JEFFREY ALEXANDER LLP |
In accordance with our terms of engagement we have prepared for your approval the financial statements from the accounting records and from information and explanations you have given us. |
This report is made solely to you, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to you in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for this report. |
You have approved the financial statements and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation. |
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given us and we do not, therefore, express any opinion on the financial statements. |
100 Barbirolli Square |
Manchester |
M2 3BD |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
PROFIT AND LOSS ACCOUNT |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
82,256 |
138,299 |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
82,256 |
138,299 |
Members' remuneration charged as an expense |
4 |
- |
(45,000 |
) |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
BALANCE SHEET |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
5,932 |
2,853 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
5,932 |
2,853 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 5,932 | 2,853 |
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. |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
BALANCE SHEET - continued |
30 June 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Jeffrey Alexander LLP is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000, registration number OC346165. The address of the registered office is 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The address of the principal place of business is City View House, 5 Union Street, Manchester, M12 4JD. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts recognised by the company in respect of fees received as surveyors for residential valuation services exclusive of value added tax and trade discounts. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been fully amortised evenly over its estimated useful life of five years. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. Depreciation is provided on the following basis: |
Fixtures and fittings | - | 15% on reducing balance |
Computer equipment | - | 15% on reducing balance |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
3. | EMPLOYEE INFORMATION |
The average number of employees, including members with contracts of employment, during the year was |
4. | INFORMATION IN RELATION TO MEMBERS |
2024 | 2023 |
£ | £ |
Members' remuneration charged as an expense |
Remuneration paid under an employment contract |
- |
45,000 |
2024 | 2023 |
The average number of members during the year was | 3 | 3 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
JEFFREY ALEXANDER LLP (REGISTERED NUMBER: OC346165) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
VAT | 22,628 | 19,997 |
Other creditors |
Net wages | 1,921 | - |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
'Loans and other debts due to members' in Total Members' Interests would rank pari passu with other creditors who are unsecured in the event of a winding up. No restrictions or limitations exist on the ability of the Members to reduce the amount of Members' other interest. These balances relate to undistributed profits and Members' taxation services. |