Registered number
OC424744
Reg Hambly Insurance Brokers LLP
Unaudited Filleted Accounts
31 March 2025
Reg Hambly Insurance Brokers LLP
Registered number: OC424744
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 32,403 62,638
Current assets
Debtors 4 74,324 53,619
Cash at bank and in hand 168,543 214,221
242,867 267,840
Creditors: amounts falling due within one year 5 (13,124) (18,294)
Net current assets 229,743 249,546
Total assets less current liabilities 262,146 312,184
Creditors: amounts falling due after more than one year 6 (28,927) (48,961)
Net assets attributable to members 233,219 263,223
Represented by:
Loans and other debts due to members 7 208,719 238,723
Members' other interests
Members' capital classified as equity 24,500 24,500
233,219 263,223
Total members' interests
Loans and other debts due to members 7 208,719 238,723
Members' other interests 24,500 24,500
233,219 263,223
For the year ended 31 March 2025 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 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 19 May 2025 and signed on their behalf by:
R Hambly
Designated member
Reg Hambly Insurance Brokers LLP
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance basis
Motor vehicles 25% reducing balance basis
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.
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 2025 2024
Number Number
Average number of persons employed by the LLP 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 47,726 147,080 194,806
Additions 1,280 - 1,280
Disposals (38,913) (92,131) (131,044)
At 31 March 2025 10,093 54,949 65,042
Depreciation
At 1 April 2024 42,842 89,326 132,168
Charge for the year 1,336 9,465 10,801
On disposals (38,092) (72,238) (110,330)
At 31 March 2025 6,086 26,553 32,639
Net book value
At 31 March 2025 4,007 28,396 32,403
At 31 March 2024 4,884 57,754 62,638
4 Debtors 2025 2024
£ £
Trade debtors 61,691 43,069
Other debtors 12,633 10,550
74,324 53,619
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 6,273 8,114
Trade creditors 6,721 7,921
Other taxes and social security costs 130 2,259
13,124 18,294
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 28,927 48,961
7 Loans and other debts due to members 2025 2024
£ £
Loans from members 238,723 208,177
Amounts due to members in respect of profits (30,004) 30,546
208,719 238,723
Amounts falling due within one year 208,719 238,723
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Reg Hambly Insurance Brokers LLP is a limited liability partnership incorporated in England. Its registered office is:
20 Molesworth Street
Wadebridge
Cornwall
PL27 7DG
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