Gavin Duncan Associates LLP
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LLP registration number OC402412
Date
Approval date of the accounts by the members 30/06/2025
Date
Date of signing on the audit/accountants report 30/06/2025
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing members' report:
Name of member S.E. Duncan
Name of member signing balance sheet P.G. Duncan
Address of registered office:
Address line 1 320c High Road
Address line 2 Benfleet
City or town Essex
County or region
Postcode SS7 5HB
Name of senior statutory auditor
Name of auditors/accountants Lane, Farrand & Associates
Type of firm (eg Chartered Accountants) Accountants and Tax Advisors
Address of auditors/accountants
Address line 1 320c High Road
Address line 2
City or town Benfleet
County or region Essex
Postcode SS7 5HB
Number Number
Average number of persons employed by the company - -
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
Amounts due after more than one year included in debtors
Amounts due from members deducted in trial balance from £ £
amounts due to members
Loans to members
Drawings in excess of profits
- -
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by instalment
Payable by instalment
£ £
Secured bank loans included in creditors
Loans and other debts due to members falling due £ £
after more than one year
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
OC402412
Gavin Duncan Associates LLP
Accounts
31 March 2025
Gavin Duncan Associates LLP
Registered number: OC402412
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 2 84,356 20,936
Current assets
Cash at bank and in hand 93,611 50,101
Creditors: amounts falling due within one year 3 (23,262) (5,869)
Net current assets 70,349 44,232
Total assets less current liabilities 154,705 65,168
Net assets attributable to members 154,705 65,168
Represented by:
Loans and other debts due to members 4 78,268 (11,269)
Members' other interests
Members' capital classified as equity 76,437 76,437
154,705 65,168
Total members' interests
Loans and other debts due to members 4 78,268 (11,269)
Members' other interests 76,437 76,437
154,705 65,168
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 30 June 2025 and signed on their behalf by:
P.G. Duncan
Designated member
Gavin Duncan Associates 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.
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:
Office equipment 30% straight line
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 940 33,662 34,602
Additions - 83,450 83,450
Disposals - (23,212) (23,212)
At 31 March 2025 940 93,900 94,840
Depreciation
At 1 April 2024 940 12,726 13,666
Charge for the year - 2,621 2,621
On disposals - (5,803) (5,803)
At 31 March 2025 940 9,544 10,484
Net book value
At 31 March 2025 - 84,356 84,356
At 31 March 2024 - 20,936 20,936
3 Creditors: amounts falling due within one year 2025 2024
£ £
Other taxes and social security costs 20,262 2,869
Other creditors 3,000 3,000
23,262 5,869
4 Loans and other debts due to members 2025 2024
£ £
Amounts due to members in respect of profits 78,268 (11,269)
Amounts falling due within one year 78,268 (11,269)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
5 Other information
Gavin Duncan Associates LLP is a limited liability partnership incorporated in England. Its registered office is:
320c High Road
Benfleet
Essex
SS7 5HB
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