Provest Financial Solutions LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC343605

		31 March 2025		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		29,490		45,825

			29,490		45,825
CURRENT ASSETS
Debtors	5	84,273		62,844
Cash at bank and in hand		201		446

		84,474		63,290
Creditors: Amounts Falling Due Within One Year	6	(143,399 )		(206,064 )

NET CURRENT ASSETS (LIABILITIES)			(58,925 )		(142,774 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(29,435 )		(96,949 )

Creditors: Amounts Falling Due After More Than One Year	7		(125,999 )		(36,596 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(155,434 )		(133,545 )

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		(133,623)		(133,623)
Other amounts		177,634		199,523

			44,011		65,900

Equity
Members' other interests
Members' capital		(199,445)		(199,445)

			(199,445)		(199,445)

			(155,434)		(133,545)

TOTAL MEMBERS' INTEREST
Amounts due from members			(25,000)		-
Loans and other debts due to members within one year			44,011		65,900
Members' other interests			(199,445)		(199,445)

			(180,434)		(133,545)

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Provest Financial Solutions LLP

Balance Sheet (continued)

As At 31 March 2025

For the period 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 applicable to LLPs subject to the small LLPs regime.)

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 accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Paul Tracey

Designated Member

01/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Provest Financial Solutions LLP is a limited liability partnership, incorporated in England & Wales, registered number OC343605 . The Registered Office is Gainsborough House, 14 Burnett Road, Sutton Coldfield, West Midlands, B74 3EJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% on cost
Fixtures & Fittings	20% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the period was: 5 (2023: 5)

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Provest Financial Solutions LLP

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	72,905	43,132	116,037
Additions	-	10,757	10,757

As at 31 March 2025	72,905	53,889	126,794

Depreciation
As at 1 January 2024	33,307	36,905	70,212
Provided during the period	22,782	4,310	27,092

As at 31 March 2025	56,089	41,215	97,304

Net Book Value
As at 31 March 2025	16,816	12,674	29,490

As at 1 January 2024	39,598	6,227	45,825

5. Debtors

	31 March 2025	31 December 2023
	£	£
Due within one year
Trade debtors	59,273	71,482
Other debtors	25,000	(8,638)

	84,273	62,844

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	14,797	14,797
Trade creditors	45,913	49,402
Bank loans and overdrafts	17,716	13,808
Other creditors	63,147	124,050
Taxation and social security	1,826	4,007

	143,399	206,064

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	11,648	30,049
Bank loans	114,351	6,547

	125,999	36,596

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Provest Financial Solutions LLP

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

8. Obligations Under Finance Leases and Hire Purchase

	31 March 2025	31 December 2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	14,797	14,797
Later than one year and not later than five years	11,648	30,049

	26,445	44,846

	26,445	44,846

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