General Information
Genry LLP is a limited liability partnership, registered in England and Wales, registration number OC370912, registration address 18 Nethercroft, Levens, Kendal, Cumbria, LA8 8LU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the partnership.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the partnership, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
33% Straight Line
|
Investment properties
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Stocks
Work in Progress is valued at the lower of cost and net realisable value.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2023 : 0).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
| At 01 January 2024 |
2,215 |
|
2,215 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2024 |
2,215 |
|
2,215 |
| Depreciation |
| At 01 January 2024 |
1,081 |
|
1,081 |
| Charge for year |
738 |
|
738 |
| On disposals |
- |
|
- |
| At 31 December 2024 |
1,819 |
|
1,819 |
| Net book values |
| Closing balance as at 31 December 2024 |
396 |
|
396 |
| Opening balance as at 01 January 2024 |
1,134 |
|
1,134 |
|
| 4. |
Investment property
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 January 2024 |
37,500 |
|
37,500 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2024 |
37,500 |
|
37,500 |
|
| 5. |
Work in progress
|
2024
£ |
|
2023
£ |
| Work in Progress |
10,000 |
|
10,000 |
|
10,000 |
|
10,000 |
|
| 6. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Prepayments & Accrued Income |
417 |
|
291 |
| VAT |
1,248 |
|
0 |
|
1,665 |
|
291 |
|
| 7. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Bank Loans & Overdrafts |
2,000 |
|
2,000 |
| Other Creditors |
794 |
|
756 |
| VAT |
0 |
|
7,545 |
|
2,794 |
|
10,301 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2024
£ |
|
2023
£ |
| Bank Loans & Overdrafts |
1,833 |
|
3,833 |
|
1,833 |
|
3,833 |
Security
Bank Loans & Overdrafts comprise of a Bounce Back Loan.
|
| 9. |
Members' Interests
|
Other reserves |
|
Loans and other debts due to members less any amounts due from members included in debtors |
|
Total |
|
| Balance at 01 January 2024 |
0 |
|
45,668 |
|
45,668 |
| Profit for the period available for discretionary division among members |
3,720 |
|
0 |
|
3,720 |
| Members' interests after profit for the period |
3,720 |
|
45,668 |
|
49,388 |
| Other divisions of profits |
(3,720) |
|
0 |
|
(3,720) |
| Introduced by members |
0 |
|
41,604 |
|
41,604 |
| Repaid to members |
0 |
|
(34,200) |
|
(34,200) |
| Other movements |
0 |
|
3,720 |
|
3,720 |
| Balance at 31 December 2024 |
0 |
|
56,792 |
|
56,792 |
| |
|
| 10. |
Loans and other debts due to members
Loan and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
|
2
|