Limited Liability Partnership registration number OC315688 (England and Wales)
SHIMSHON LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SHIMSHON LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
4 - 6
SHIMSHON LLP
BALANCE SHEET
AS AT
30 OCTOBER 2024
30 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,368,765
1,350,454
Represented by:
Loans and other debts due to members within one year
Other amounts
614,635
596,324
Members' other interests
Revaluation reserve
754,130
754,130
1,368,765
1,350,454

For the financial year ended 30 October 2024 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

In accordance with section 444 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008, all of the members of the limited liability partnership have consented to the abridgement of the financial statements pursuant to paragraph 1A of Schedule 1 to the Small Limited Liability Partnerships (Accounts) Regulations (SI 2008/1912)(a).

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 18 July 2025 and are signed on their behalf by:
M C Dunitz
Designated member
Limited Liability Partnership registration number OC315688 (England and Wales)
SHIMSHON LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 OCTOBER 2024
- 2 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2024
£
£
£
£
£
£
Members' interests at 31 October 2023
754,130
-
754,130
596,324
596,324
1,350,454
Loss for the financial year available for discretionary division among members
-
(4,953)
(4,953)
-
-
(4,953)
Members' interests after loss for the year
754,130
(4,953)
749,177
596,324
596,324
1,345,501
Allocation of loss for the financial year
-
4,953
4,953
-
-
4,953
Introduced by members
-
-
-
23,264
23,264
23,264
Other movements
-
-
-
(4,953)
(4,953)
(4,953)
Members' interests at 30 October 2024
754,130
-
754,130
614,635
614,635
1,368,765
SHIMSHON LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
- 3 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2023
£
£
£
£
£
£
Amounts due to members
599,401
Members' interests at 31 October 2022
754,130
-
754,130
599,402
599,402
1,353,532
Loss for the financial year available for discretionary division among members
-
(3,078)
(3,078)
-
-
(3,078)
Members' interests after loss for the year
754,130
(3,078)
751,052
599,402
599,402
1,350,454
Allocation of loss for the financial year
-
3,078
3,078
-
-
3,078
Other movements
-
-
-
(3,078)
(3,078)
(3,078)
Members' interests at 30 October 2023
754,130
-
754,130
596,324
596,324
1,350,454
SHIMSHON LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
- 4 -
1
Accounting policies
Limited liability partnership information

Shimshon LLP is a limited liability partnership incorporated in England and Wales. The registered office is 134 Buckingham Palace Road, London, SW1W 9SA.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.2
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Plant and equipment
20% on cost

Investment properties are included in the balance sheet at their cost. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with Financial Reporting Standard for smaller entities (effective January 2007), it is a departure from the general requirement for all tangible assets to be depreciated. In the opinion of the members, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

SHIMSHON LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

2
Employees
2024
2023
Number
Number
Total
2
2
SHIMSHON LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost or valuation
At 31 October 2023
1,350,000
67,572
1,417,572
Additions
-
23,264
23,264
At 30 October 2024
1,350,000
90,836
1,440,836
Depreciation and impairment
At 31 October 2023
-
67,118
67,118
Depreciation charged in the year
-
4,953
4,953
At 30 October 2024
-
72,071
72,071
Carrying amount
At 30 October 2024
1,350,000
18,765
1,368,765
At 30 October 2023
1,350,000
454
1,350,454

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2024
2023
£
£
Cost
595,870
595,870
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