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Cover Storey Architects Llp
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Notes to the financial statements
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for the year ended 31 March 2025
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1
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General information
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Cover Storey Architects Llp is a limited liability partnership registered in England and Wales. Its
registered number is OC407535. Its registered office is 18 St. Georges Avenue, Havant, Hampshire,
PO9 2RX.
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2
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Accounting policies
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Basis of preparing the financial statements
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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 and the Companies Act 2006 as applied to LLPs
by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006)
Regulations 2008. The financial statements have been prepared under the historic cost convention.
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Going concern
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In preparing these financial statements, the members have assessed whether there are any material
uncertainties related to events or conditions that cast significant doubt upon the LLP's ability to continue
as a going concern. In making this assessment, the members take into account all available information
about the future which is at least 12 months from the date that the financial statements are authorised
for issue.
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The members consider that the LLP has adequate resources to continue in business for the
foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial
statements.
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, Value Added Tax and other sales taxes.
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Tangible fixed assets
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
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Land and buildings:
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Freehold property
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-
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0% reducing balance
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Plant and machinery etc.:
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Plant and machinery
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25% straight line
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Retirement benefits
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The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension
scheme are charged to profit and loss in the period to which they relate.
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Members' transactions with the LLP
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Loans and other debts due to members (other than members' capital classified as debt) would rank
equally to other creditors.
In the event of a winding up there is no protection afforded to other creditots.
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3
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