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REGISTERED NUMBER: OC383149
Austin Moore & Partners LLP
Filleted Unaudited Financial Statements
31 March 2025
Austin Moore & Partners LLP
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
25,140
29,900
Current assets
Debtors
6
412,390
400,221
Cash at bank and in hand
389,056
371,317
---------
---------
801,446
771,538
Creditors: amounts falling due within one year
7
130,759
131,666
---------
---------
Net current assets
670,687
639,872
---------
---------
Total assets less current liabilities
695,827
669,772
---------
---------
Net assets
695,827
669,772
---------
---------
Represented by:
Loans and other debts due to members
Members' capital classified as a liability
8
402,426
209,330
Other amounts
8
293,401
460,442
---------
---------
695,827
669,772
---------
---------
Members' other interests
Other reserves
---------
---------
695,827
669,772
---------
---------
Total members' interests
Amounts due from members
(171)
Loans and other debts due to members
8
695,827
669,772
Members' other interests
---------
---------
695,656
669,772
---------
---------
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 income statement 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 .
Austin Moore & Partners LLP
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the members and authorised for issue on 17 July 2025 , and are signed on their behalf by:
Ms L De Banke
Designated Member
Registered number: OC383149
Austin Moore & Partners 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 7 The Ropewalk, Nottingham, Nottinghamshire, NG1 5DU.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A 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' issued in December 2018 (SORP 2018).
3.
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 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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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 income statement 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 income statement 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 income statement 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.
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:
Motor Vehicles
-
25% reducing balance
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 13 (2024: 11 ).
5.
Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2024
70,150
21,556
91,706
Additions
3,201
3,201
--------
--------
--------
At 31 March 2025
70,150
24,757
94,907
--------
--------
--------
Depreciation
At 1 April 2024
41,172
20,634
61,806
Charge for the year
7,245
716
7,961
--------
--------
--------
At 31 March 2025
48,417
21,350
69,767
--------
--------
--------
Carrying amount
At 31 March 2025
21,733
3,407
25,140
--------
--------
--------
At 31 March 2024
28,978
922
29,900
--------
--------
--------
6.
Debtors
2025
2024
£
£
Trade debtors
333,699
339,920
Other debtors
78,691
60,301
---------
---------
412,390
400,221
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,004
Social security and other taxes
62,630
69,922
Other creditors
68,129
58,740
---------
---------
130,759
131,666
---------
---------
8.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
293,401
460,442
Other amounts
402,426
209,330
---------
---------
695,827
669,772
---------
---------