Limited Liability Partnership registration number OC336447 (England and Wales)
PARKER WILSON SUSTAIN LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
PARKER WILSON SUSTAIN LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PARKER WILSON SUSTAIN LLP
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
50,950
111,179
Current assets
Debtors
4
38,713
37,519
Cash at bank and in hand
5,855
6,285
44,568
43,804
Creditors: amounts falling due within one year
5
(27,979)
(97,683)
Net current assets/(liabilities)
16,589
(53,879)
Total assets less current liabilities
67,539
57,300
Creditors: amounts falling due after more than one year
6
-
(36,990)
Net assets attributable to members
67,539
20,310
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
67,539
20,310

The notes on pages 2 to 4 form part of these financial statements.

For the financial year ended 30 April 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 members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 17 April 2025 and are signed on their behalf by:
17 April 2025
Mr G J Wilson
Designated member
Limited Liability Partnership registration number OC336447 (England and Wales)
PARKER WILSON SUSTAIN LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Parker Wilson Sustain LLP is a limited liability partnership incorporated in England and Wales. The registered office is Burnham House, 373 Bury New Road, Prestwich, Manchester, United Kingdom, M25 1AW.

 

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 are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. 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.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

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.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

PARKER WILSON SUSTAIN LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
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:

Motor vehicles
20% reducing balance

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.

2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 May 2023
182,653
Additions
24,750
Disposals
(90,301)
At 30 April 2024
117,102
Depreciation and impairment
At 1 May 2023
71,474
Depreciation charged in the year
12,738
Eliminated in respect of disposals
(18,060)
At 30 April 2024
66,152
Carrying amount
At 30 April 2024
50,950
At 30 April 2023
111,179
PARKER WILSON SUSTAIN LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,700
28,547
Other debtors
33,013
8,972
38,713
37,519
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
3,417
Taxation and social security
14,245
8,555
Other creditors
13,734
85,711
27,979
97,683

Included within other creditors are hire purchase liabilities totalling £5,581 (2023 £24,120) secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
36,990

Included within other creditors are hire purchase liabilities totalling £Nil (2023 £36,990) secured on the assets to which they relate.

 

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.

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