9 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 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP OC419877 2024-04-01 2025-03-31 OC419877 2025-03-31 OC419877 2024-03-31 OC419877 2023-04-01 2024-03-31 OC419877 2024-03-31 OC419877 2023-03-31 OC419877 core:PlantMachinery 2024-04-01 2025-03-31 OC419877 bus:Director1 2024-04-01 2025-03-31 OC419877 core:PlantMachinery 2024-03-31 OC419877 core:PlantMachinery 2025-03-31 OC419877 core:WithinOneYear 2025-03-31 OC419877 core:WithinOneYear 2024-03-31 OC419877 core:PlantMachinery 2024-03-31 OC419877 bus:SmallEntities 2024-04-01 2025-03-31 OC419877 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC419877 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC419877 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC419877 bus:FullAccounts 2024-04-01 2025-03-31 OC419877 core:OfficeEquipment 2024-04-01 2025-03-31 OC419877 core:OfficeEquipment 2024-03-31 OC419877 core:OfficeEquipment 2025-03-31 OC419877 core:OilGasProductionAssets 2025-03-31
REGISTERED NUMBER: OC419877
Beacon Partnership LLP
Unaudited financial statements
31 March 2025
Beacon Partnership LLP
Statement of financial position
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
4
2,109
4,851
Current assets
Debtors
5
237,286
183,992
Cash at bank and in hand
164,357
204,354
---------
---------
401,643
388,346
Creditors: Amounts falling due within one year
6
( 147,600)
( 145,836)
---------
---------
Net current assets
254,043
242,510
---------
---------
Total assets less current liabilities
256,152
247,361
---------
---------
Net assets
256,152
247,361
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
7
249,352
240,561
Members' other interests
Members' capital classified as equity
6,800
6,800
Other reserves
---------
---------
256,152
247,361
---------
---------
Total members' interests
Loans and other debts due to members
7
249,352
240,561
Members' other interests
6,800
6,800
---------
---------
256,152
247,361
---------
---------
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 .
Beacon Partnership LLP
Statement of financial position (continued)
31 March 2025
These financial statements were approved by the members and authorised for issue on 22 July 2025 , and are signed on their behalf by:
Mr S Beard
Designated Member
Registered number: OC419877
Beacon Partnership 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 20-22 Wenlock Road, London, N1 7GU, England.
2.
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'.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Computer equipment
-
33% straight line
Office equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 9 (2024: 8 ).
4.
Tangible assets
Computer Equipment
Office equipment
Total
£
£
£
Cost
At 1 April 2024
16,290
8,868
25,158
Additions
1,479
1,479
Disposals
( 6,299)
( 4,204)
( 10,503)
-------
------
-------
At 31 March 2025
11,470
4,664
16,134
-------
------
-------
Depreciation
At 1 April 2024
14,637
5,670
20,307
Charge for the year
1,682
763
2,445
Disposals
( 6,299)
( 2,428)
( 8,727)
-------
------
-------
At 31 March 2025
10,020
4,005
14,025
-------
------
-------
Carrying amount
At 31 March 2025
1,450
659
2,109
-------
------
-------
At 31 March 2024
1,653
3,198
4,851
-------
------
-------
5.
Debtors
2025
2024
£
£
Trade debtors
236,154
179,966
Other debtors
1,132
4,026
---------
---------
237,286
183,992
---------
---------
6. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
64,414
63,943
Social security and other taxes
65,074
65,751
Other creditors
18,112
16,142
---------
---------
147,600
145,836
---------
---------
7.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
249,352
240,561
---------
---------