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Registered number: OC358369
DNS ACCOUNTANTSS LLP
Unaudited Financial Statements
For The Year Ended 31 October 2024
DNS Associates Ltd
382 Dns House Kenton Road
Harrow
Greater London
HA3 8DP
Contents
Page
Balance Sheet 1—2
Reconciliation of Members' Interests 3—4
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: OC358369
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 100,680 156,240
Tangible Assets 5 522,033 523,512
622,713 679,752
CURRENT ASSETS
Debtors 6 115,129 67,910
Cash at bank and in hand 4,401 6,627
119,530 74,537
Creditors: Amounts Falling Due Within One Year 7 (2,283,534 ) (1,840,241 )
NET CURRENT ASSETS (LIABILITIES) (2,164,004 ) (1,765,704 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,541,291 ) (1,085,952 )
Creditors: Amounts Falling Due After More Than One Year 8 (421,499 ) (427,338 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (1,962,790 ) (1,513,290 )
REPRESENTED BY:
Equity
Members' other interests
Members' capital (1,962,790) (1,513,290)
(1,962,790) (1,513,290)
TOTAL MEMBERS' INTEREST
Amounts due from members (102,977) (48,558)
Members' other interests (1,962,790) (1,513,290)
(2,065,767) (1,561,848)
Page 1
Page 2
For the year ending 31 October 2024 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 Profit and Loss Account.
On behalf of the members
Mr S Agarwal
Partner
16/01/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Members'Capital classified as Equity Other Reserves Total Equity Other amounts Total members' interest
£ £ £ £ £
Amounts due from members - - - (1,565) -
Balance at 1 November 2022 (875,490) - (875,490) (1,565) (877,055)
Profit/(loss) for the financial year available for discretionary division among members - (46,993 ) (46,993 ) - (46,993 )
Members' interests after profit/(loss) for the year (875,490) (46,993) (922,483) (1,565) (924,048)
Other divisions of profits (losses) - 46,993 46,993 (46,993) -
Drawings (637,800) - (637,800) - (637,800)
Amounts due from members - - - (48,558) -
As at 31 October 2023 and 1 November 2023 (1,513,290) - (1,513,290) (48,558) (1,561,848)
Profit/(loss) for the financial year available for discretionary division among members - (54,419 ) (54,419 ) - (54,419 )
Members' interests after profit/(loss) for the year (1,513,290) (54,419) (1,567,709) (48,558) (1,616,267)
Other divisions of profits (losses) - 54,419 54,419 (54,419) -
Drawings (449,500) - (449,500) - (449,500)
Amounts due from members - - - (102,977) -
As at 31 October 2024 (1,962,790) - (1,962,790) (102,977) (2,065,767)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
DNS ACCOUNTANTSS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC358369 . The Registered Office is Dns House 382 Kenton Road, Harrow, Middlesex, HA3 8DP.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Fixtures & Fittings 20% RBM
Computer Equipment 25% RBM
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 555,600
As at 31 October 2024 555,600
Amortisation
As at 1 November 2023 399,360
Provided during the period 55,560
As at 31 October 2024 454,920
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 October 2024 100,680
As at 1 November 2023 156,240
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 516,503 20,750 31,346 568,599
As at 31 October 2024 516,503 20,750 31,346 568,599
Depreciation
As at 1 November 2023 - 15,311 29,776 45,087
Provided during the period - 1,087 392 1,479
As at 31 October 2024 - 16,398 30,168 46,566
Net Book Value
As at 31 October 2024 516,503 4,352 1,178 522,033
As at 1 November 2023 516,503 5,439 1,570 523,512
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,152 19,352
Amounts due from members 102,977 48,558
115,129 67,910
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,513 -
Bank loans and overdrafts 6,214 6,212
VAT 272 200
Other creditors 1,014,847 1,014,487
Amounts due to group companies 1,260,688 819,342
2,283,534 1,840,241
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 421,499 427,338
Page 5