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REGISTERED NUMBER: OC435638
Sneyd Mining LLP
Unaudited Financial Statements
5 April 2025
Sneyd Mining LLP
Financial Statements
Year ended 5 April 2025
Contents
Page
Designated members and professional advisers
1
Members' report
2
Statement of comprehensive income
3
Statement of financial position
4
Reconciliation of members' interests
6
Notes to the financial statements
8
Sneyd Mining LLP
Designated Members and Professional Advisers
Designated members
Mr WJ Sneyd
DR J R Sneyd
MR J Sneyd
Mrs B Sykes
Registered office
Coldrenick
Menheniot
Liskeard
Cornwall
PL14 3RQ
Accountants
BWM Partners
Chartered accountants
St Denys House
22 East Hill
St Austell
England
PL25 4TR
Sneyd Mining LLP
Members' Report
Year ended 5 April 2025
The members present their report and the unaudited financial statements of the LLP for the year ended 5 April 2025 .
Principal activities
The principal activity of the company during the year was Mining Exploration
Designated members
The designated members who served the LLP during the year were as follows:
Mr WJ Sneyd
DR J R Sneyd
MR J Sneyd
Mrs B Sykes
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
The profit for the year available for distribution to members was £8,442 (2024:£6,220).
This report was approved by the members on 22 May 2025 and signed on behalf of the members by:
DR J R Sneyd
Designated Member
Registered office:
Coldrenick
Menheniot
Liskeard
Cornwall
PL14 3RQ
Sneyd Mining LLP
Statement of Comprehensive Income
Year ended 5 April 2025
2025
2024
Note
£
£
Turnover
10,391
7,500
--------
-------
Gross profit
10,391
7,500
Administrative expenses
1,949
1,280
--------
-------
Operating profit
8,442
6,220
--------
-------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
8,442
6,220
--------
-------
All the activities of the LLP are from continuing operations.
Sneyd Mining LLP
Statement of Financial Position
5 April 2025
2025
2024
Note
£
£
£
Current assets
Debtors
4
6,000
6,000
Cash at bank and in hand
5,664
4,692
--------
--------
11,664
10,692
Creditors: amounts falling due within one year
5
9,194
8,664
--------
--------
Net current assets
2,470
2,028
-------
-------
Total assets less current liabilities
2,470
2,028
-------
-------
Net assets
2,470
2,028
-------
-------
Represented by:
Loans and other debts due to members
Other amounts
6
2,470
2,028
-------
-------
Members' other interests
Other reserves
-------
-------
2,470
2,028
-------
-------
Total members' interests
Loans and other debts due to members
6
2,470
2,028
Members' other interests
-------
-------
2,470
2,028
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 5 April 2025 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
Sneyd Mining LLP
Statement of Financial Position (continued)
5 April 2025
These financial statements were approved by the members and authorised for issue on 22 May 2025 , and are signed on their behalf by:
DR J R Sneyd
Designated Member
Registered number: OC435638
Sneyd Mining LLP
Reconciliation of Members' Interests
Year ended 5 April 2025
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total 2025
£
£
£
£
£
Balance at 6 April 2024
2,028
2,028
2,028
Profit for the financial year available for discretionary division among members
8,442
8,442
8,442
-------
-------
-------
-------
--------
Members' interests after profit for the year
8,442
8,442
2,028
2,028
10,470
Other division of profits
(8,442)
(8,442)
8,442
8,442
Drawings
(8,000)
(8,000)
(8,000)
-------
-------
-------
-------
--------
Balance at 5 April 2025
2,470
2,470
2,470
-------
-------
-------
-------
--------
Sneyd Mining LLP
Reconciliation of Members' Interests (continued)
Year ended 5 April 2025
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total 2024
£
£
£
£
£
Balance at 6 April 2023
3,808
3,808
3,808
Profit for the financial year available for discretionary division among members
6,220
6,220
6,220
-------
-------
-------
-------
--------
Members' interests after profit for the year
6,220
6,220
3,808
3,808
10,028
Other division of profits
(6,220)
(6,220)
6,220
6,220
Drawings
(8,000)
(8,000)
(8,000)
-------
-------
-------
-------
--------
Balance at 5 April 2024
2,028
2,028
2,028
-------
-------
-------
-------
--------
Sneyd Mining LLP
Notes to the Financial Statements
Year ended 5 April 2025
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Coldrenick, Menheniot, Liskeard, Cornwall, PL14 3RQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
4.
Debtors
2025
2024
£
£
Trade debtors
6,000
6,000
-------
-------
5. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,003
8,004
Other creditors
1,191
660
-------
-------
9,194
8,664
-------
-------
6.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
2,470
2,028
-------
-------