Limited Liability Partnership registration number OC392825 (England and Wales)
MARKETING ESTATES CONSULTANTS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MARKETING ESTATES CONSULTANTS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MARKETING ESTATES CONSULTANTS LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,858
9,143
Current assets
Debtors
4
178
43,439
Creditors: amounts falling due within one year
5
(33,842)
(29,275)
Net current (liabilities)/assets
(33,664)
14,164
Total assets less current liabilities
(26,806)
23,307
Creditors: amounts falling due after more than one year
6
(21,340)
(23,307)
Net liabilities attributable to members
(48,146)
-
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
(48,146)
-
Total members' interests
Amounts due from members
-
(43,271)
Loans and other debts due to members
(48,146)
-
(48,146)
(43,271)

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 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 8 May 2025 and are signed on their behalf by:
08 May 2025
Mr L M Albonico
Designated member
Limited Liability Partnership registration number OC392825 (England and Wales)
MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Marketing Estates Consultants LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3a Chestnut House, Farm Close, Shenley, Hertfordshire, United Kingdom, WD7 9AD.

 

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 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, [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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
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
25% on 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.

1.4
Financial instruments
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

1.5
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
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
108,366
Depreciation and impairment
At 1 April 2023
99,223
Depreciation charged in the year
2,285
At 31 March 2024
101,508
Carrying amount
At 31 March 2024
6,858
At 31 March 2023
9,143
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by members
-
43,271
Other debtors
178
168
178
43,439
MARKETING ESTATES CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Debtors
(Continued)
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,010
10,830
Trade creditors
12,796
12,348
Taxation and social security
-
341
Other creditors
11,036
5,756
33,842
29,275
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,340
23,307

A number of the entity's motor vehicles are secured on the hire purchase agreements 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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