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Registration number: OC419775

RB (PWT) LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

RB (PWT) LLP

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

RB (PWT) LLP

(Registration number: OC419775)
Balance Sheet as at 31 July 2024

Note

2024
 £

2023
 £

Fixed assets

 

Intangible assets

3

16,667

21,667

Current assets

 

Debtors

101,644

104,521

Cash and short-term deposits

 

302,946

243,177

 

404,590

347,698

Creditors: Amounts falling due within one year

5

(42,312)

(32,082)

Net current assets

 

362,278

315,616

Net assets attributable to members

 

378,945

337,283

Represented by:

 

Members’ other interests

 

Members' capital classified as equity falling due after more than one year

 

50,000

50,000

Other reserves

 

328,945

287,283

   

378,945

337,283

Total members' interests

 

Equity

 

378,945

337,283

   

378,945

337,283

 

RB (PWT) LLP

(Registration number: OC419775)
Balance Sheet as at 31 July 2024

For the year ending 31 July 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of RB (PWT) LLP (registered number OC419775) were approved by the Board and authorised for issue on 29 April 2025. They were signed on behalf of the limited liability partnership by:

.........................................
P W Treadgold
Designated member

 

RB (PWT) LLP

Notes to the Financial Statements for the Year Ended 31 July 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of RB (PWT) LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

 

RB (PWT) LLP

Notes to the Financial Statements for the Year Ended 31 July 2024

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Members' interests

Amounts due to members after more than one year comprise equity introduced from members, the withdrawal of which is restricted by the partnership agreement. The amounts due to members are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 1 (2023 - 1).

 

RB (PWT) LLP

Notes to the Financial Statements for the Year Ended 31 July 2024

3

Intangible fixed assets

Goodwill
 £

Total
£

Cost

At 1 August 2023

50,000

50,000

At 31 July 2024

50,000

50,000

Amortisation

At 1 August 2023

28,333

28,333

Charge for the year

5,000

5,000

At 31 July 2024

33,333

33,333

Net book value

At 31 July 2024

16,667

16,667

At 31 July 2023

21,667

21,667

4

Debtors

2024
£

2023
£

Trade debtors

80,829

87,619

Other debtors

20,542

16,279

Prepayments and accrued income

273

623

Total current trade and other debtors

101,644

104,521

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

34,190

32,082

Accruals and deferred income

8,122

-

42,312

32,082

 

RB (PWT) LLP

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Related party transactions

Income and receivables from related parties

2024

Other related parties
£

Provision of services

86,956

Amounts receivable from related party

6,302

2023

Other related parties
£

Provision of services

74,182

Amounts receivable from related party

5,657

Expenditure with and payables to related parties

2024

Other related parties
£

Rendering of services

279,455

Amounts payable to related party

34,140

2023

Other related parties
£

Rendering of services

269,008

Amounts payable to related party

28,489