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Registered number: OC340013
IFA (North) LLP
Unaudited Financial Statements
For The Year Ended 31 March 2025
David H Evans Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC340013
2025 2024
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 4 80,883 99,765
Cash at bank and in hand 225,428 141,925
306,311 241,690
Creditors: Amounts Falling Due Within One Year 5 (214,435 ) (200,755 )
NET CURRENT ASSETS (LIABILITIES) 91,876 40,935
TOTAL ASSETS LESS CURRENT LIABILITIES 91,876 40,935
NET ASSETS ATTRIBUTABLE TO MEMBERS 91,876 40,935
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 91,876 40,935
91,876 40,935
91,876 40,935
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 91,876 40,935
91,876 40,935
Page 1
Page 2
For the year ending 31 March 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
On behalf of the members
Mr Steven Banks
Partner
24/06/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IFA (North) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC340013 . The Registered Office is The Grants 11 Market Place, Ramsbottom, Bury, BL0 9AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 10 (2024: 9)
10 9
4. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 1,640 747
Other debtors 79,243 99,018
80,883 99,765
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1,686 -
Other taxes and social security 8,809 8,170
Other creditors 9,390 8,594
Accruals and deferred income 194,550 183,991
214,435 200,755
Page 4