Company No: OC390123 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	0		136
		0		136
Current assets
Debtors	4	155,397		112,241
Cash at bank and in hand		80,857		79,932
		236,254		192,173
Creditors: amounts falling due within one year	5	( 7,286)		( 6,362)
Net current assets		228,968		185,811
Total assets less current liabilities		228,968		185,947
Net assets attributable to members		228,968		185,947
Represented by
Loans and other debts due to members within one year
Other amounts		195,968		153,947
		195,968		153,947
Loans and other debts due to members after more than one year
Members' capital classified as a liability		33,000		32,000
		33,000		32,000
Members' other interests
		0		0
		228,968		185,947
Total members' interests
Loans and other debts due to members		228,968		185,947
		228,968		185,947

For the financial year ending 31 December 2024 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

Exeter Anaesthesia & Pain Management LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Exeter Anaesthesia & Pain Management LLP (registered number: OC390123) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

Dr R J Telford Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Exeter Anaesthesia & Pain Management LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Exeter Nuffield Hospital, Wonford Road, Exeter, EX2 4UG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Members' interests

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Members' shares of profits are automatically allocated and are treated as members' remuneration charged as an expense to the profit and loss account.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2024	12,674		12,674
At 31 December 2024	12,674		12,674
Accumulated depreciation
At 01 January 2024	12,538		12,538
Charge for the financial year	136		136
At 31 December 2024	12,674		12,674
Net book value
At 31 December 2024	0		0
At 31 December 2023	136		136

4. Debtors

	2024		2023
	£		£
Trade debtors	155,397		112,241

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	443		436
Accruals	6,843		5,926
	7,286		6,362

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.