Limited Liability Partnership registration number OC448232 (England and Wales)
JESSUP HEALTH LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
JESSUP HEALTH LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JESSUP HEALTH LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,238
-
Current assets
Stocks
448,665
-
Debtors
4
316,437
111,058
Cash at bank and in hand
159,923
36,945
925,025
148,003
Creditors: amounts falling due within one year
5
(269,477)
(158,425)
Net current assets/(liabilities)
655,548
(10,422)
Total assets less current liabilities
669,786
(10,422)
Creditors: amounts falling due after more than one year
6
(115,008)
-
Net assets/(liabilities) attributable to members
554,778
(10,422)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
554,778
(10,422)
JESSUP HEALTH LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial year ended 31 March 2025 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.
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 25 July 2025 and are signed on their behalf by:
25 July 2025
Mr T Gallagher
Mrs P M Gallagher
Designated member
Designated Member
Miss C F Gallagher
Mrs B S Flower
Designated Member
Designated Member
Limited Liability Partnership registration number OC448232 (England and Wales)
JESSUP HEALTH LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Limited liability partnership information
Jessup Health LLP is a limited liability partnership incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.
1.1
Reporting period
The prior period covers from incorporation on 18 July 2023 to March 2024. The current period covers the financial year from 1 April 2024 to 31 March 2024. For this reason the prior period is not entirely comparable.
1.2
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 pound.
The financial statements have been prepared under the historical cost convention.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Fixtures and fittings
15% Reducing Balance
Computers
25% Straight Line
Motor vehicles
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
JESSUP HEALTH LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2025
2024
Number
Number
Total
4
4
JESSUP HEALTH LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
-
-
-
-
Additions
5,143
1,673
11,482
18,298
At 31 March 2025
5,143
1,673
11,482
18,298
Depreciation and impairment
At 1 April 2024
-
-
-
-
Depreciation charged in the year
771
418
2,871
4,060
At 31 March 2025
771
418
2,871
4,060
Carrying amount
At 31 March 2025
4,372
1,255
8,611
14,238
At 31 March 2024
-
-
-
-
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
264,604
14,604
Other debtors
51,833
96,454
316,437
111,058
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
127,226
-
Trade creditors
67,064
98,592
Taxation and social security
69,107
-
Other creditors
6,080
59,833
269,477
158,425
JESSUP HEALTH LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
115,008
-