0 false false false false false false false false false false false false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 8,383 740 9,123 6,503 1,520 8,023 1,100 1,880 xbrli:pure xbrli:shares iso4217:GBP OC370966 2024-04-01 2025-03-31 OC370966 2025-03-31 OC370966 2024-03-31 OC370966 2023-04-01 2024-03-31 OC370966 2024-03-31 OC370966 2023-03-31 OC370966 core:PlantMachinery 2024-04-01 2025-03-31 OC370966 bus:Director1 2024-04-01 2025-03-31 OC370966 bus:Director2 2024-04-01 2025-03-31 OC370966 bus:Director3 2024-04-01 2025-03-31 OC370966 core:PlantMachinery 2024-03-31 OC370966 core:PlantMachinery 2025-03-31 OC370966 core:WithinOneYear 2025-03-31 OC370966 core:WithinOneYear 2024-03-31 OC370966 core:PlantMachinery 2024-03-31 OC370966 bus:SmallEntities 2024-04-01 2025-03-31 OC370966 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC370966 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC370966 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC370966 bus:FullAccounts 2024-04-01 2025-03-31 OC370966 core:AllAssociates 2024-04-01 2025-03-31
REGISTERED NUMBER: OC370966
Marriott Davies Yapp LLP
Filleted Unaudited Financial Statements
31 March 2025
Marriott Davies Yapp LLP
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Marriott Davies Yapp LLP
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
1,100
1,880
Current assets
Debtors
6
273,735
286,893
Cash at bank and in hand
59,388
52,263
---------
---------
333,123
339,156
Creditors: amounts falling due within one year
7
127,543
156,964
---------
---------
Net current assets
205,580
182,192
---------
---------
Total assets less current liabilities
206,680
184,072
---------
---------
Net assets
206,680
184,072
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
8
206,680
184,072
---------
---------
Members' other interests
Other reserves
---------
---------
206,680
184,072
---------
---------
Total members' interests
Loans and other debts due to members
8
206,680
184,072
Members' other interests
---------
---------
206,680
184,072
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
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) 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 .
Marriott Davies Yapp LLP
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the members and authorised for issue on 8 July 2025 , and are signed on their behalf by:
T S Yapp
L C Davies
Designated Member
Designated Member
D E Harris
Member
Registered number: OC370966
Marriott Davies Yapp LLP
Notes to the Financial Statements
Year ended 31 March 2025
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Tallis House, 2 Tallis Street, London, EC4Y 0AB, England.
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 2021 (SORP 2021).
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members, amounted to 3 (2024: 3).
5.
Tangible assets
Plant and machinery
£
Cost
At 1 April 2024
8,383
Additions
740
-------
At 31 March 2025
9,123
-------
Depreciation
At 1 April 2024
6,503
Charge for the year
1,520
-------
At 31 March 2025
8,023
-------
Carrying amount
At 31 March 2025
1,100
-------
At 31 March 2024
1,880
-------
6.
Debtors
2025
2024
£
£
Trade debtors
173,211
114,406
Other debtors
100,524
172,487
---------
---------
273,735
286,893
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,838
93,628
Social security and other taxes
28,178
25,377
Other creditors
90,527
37,959
---------
---------
127,543
156,964
---------
---------
8.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
206,680
184,072
---------
---------
9.
Related party transactions
The only related party transactions in the year are those between the LLP and its Members which are disclosed within the Reconciliation of members' interests.