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REGISTERED NUMBER: OC434425 (England and Wales)












Accounts & Tax Centre (Southwest) LLP
Trading as
ATC Advisors

Unaudited Financial Statements

for the Year Ended 31st October 2024






Accounts & Tax Centre (Southwest) LLP (Registered number: OC434425)
Trading as ATC Advisors






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Accounts & Tax Centre (Southwest) LLP
Trading as ATC Advisors

General Information
for the Year Ended 31st October 2024







DESIGNATED MEMBERS: P J M Stevenson
Mrs S A Gay





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Launceston
Cornwall
PL15 7ED





REGISTERED NUMBER: OC434425 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Accounts & Tax Centre (Southwest) LLP (Registered number: OC434425)
Trading as ATC Advisors

Abridged Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 125,874 85,392
Tangible assets 5 76,461 108,167
202,335 193,559

CURRENT ASSETS
Stocks 248,965 277,425
Debtors 234,396 222,112
Cash at bank and in hand 267,218 192,449
750,579 691,986
CREDITORS
Amounts falling due within one year 381,252 362,165
NET CURRENT ASSETS 369,327 329,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

571,662

523,380

CREDITORS
Amounts falling due after more than one
year

77,783

105,537
NET ASSETS ATTRIBUTABLE TO
MEMBERS

493,879

417,843

LOANS AND OTHER DEBTS DUE TO
MEMBERS

193,879

117,843

MEMBERS' OTHER INTERESTS
Capital accounts 300,000 300,000
493,879 417,843

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 193,879 117,843
Members' other interests 300,000 300,000
493,879 417,843

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st October 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Accounts & Tax Centre (Southwest) LLP (Registered number: OC434425)
Trading as ATC Advisors

Abridged Balance Sheet - continued
31st October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28th May 2025 and were signed by:




P J M Stevenson - Designated member




Mrs S A Gay - Designated member


Accounts & Tax Centre (Southwest) LLP (Registered number: OC434425)
Trading as ATC Advisors

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Accounts & Tax Centre (Southwest) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 30 (2023 - 30 ) .

Accounts & Tax Centre (Southwest) LLP (Registered number: OC434425)
Trading as ATC Advisors

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2023 86,843
Additions 50,000
At 31st October 2024 136,843
AMORTISATION
At 1st November 2023 1,451
Amortisation for year 9,518
At 31st October 2024 10,969
NET BOOK VALUE

At 31st October 2024 125,874
At 31st October 2023 85,392

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2023 166,217
Additions 2,511
At 31st October 2024 168,728
DEPRECIATION
At 1st November 2023 58,050
Charge for year 34,217
At 31st October 2024 92,267
NET BOOK VALUE
At 31st October 2024 76,461
At 31st October 2023 108,167