General Information
Channon Consultants LLP is a limited liability partnership, registered in England and Wales, under OC357068, at Wilmshurst, Fletching, Uckfield, East Sussex, TN22 3YB. 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 including the provisions of Section 1A "Smaller Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships, together with 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 LLP.
Going concern basis
The Proprietors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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:
| Plant and machinery etc |
15% |
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
494,029 |
|
494,029 |
| Additions |
3,750 |
|
3,750 |
| Disposals |
- |
|
- |
| At 31 March 2025 |
497,779 |
|
497,779 |
| Depreciation |
| At 01 April 2024 |
378,027 |
|
378,027 |
| Charge for year |
26,770 |
|
26,770 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
404,797 |
|
404,797 |
| Net book values |
| Closing balance as at 31 March 2025 |
92,982 |
|
92,982 |
| Opening balance as at 01 April 2024 |
116,002 |
|
116,002 |
The net book value of Motor Vehicles includes £ 51,694 (2024 £67,202) in respect of assets leased under finance leases or hire purchase contracts.
|
| 4. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
(4,155) |
|
(4,155) |
| Additions |
(6) |
|
(6) |
| Disposals |
- |
|
- |
| At 31 March 2025 |
(4,161) |
|
(4,161) |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Valuation |
32,577 |
|
10,000 |
|
32,577 |
|
10,000 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
181,200 |
|
1,200 |
| Other Debtors |
(150,000) |
|
4,057 |
|
31,200 |
|
5,257 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
(82) |
|
34 |
| Taxation and Social Security |
24,383 |
|
- |
| Obligations under HP/Financial Leases |
12,170 |
|
21,089 |
| Other Creditors |
1,143 |
|
1,144 |
|
37,614 |
|
22,267 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations under HP/Financial Leases |
20,447 |
|
22,177 |
|
20,447 |
|
22,177 |
|
| 9. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Cells4Life Group LLP | 12,000 | | 15,000 | | - | | - |
The LLP invoices consultancy services on an arms length basis to Cells4Life Group LLP, an LLP in which the LLP and its members are also members. |
| 10. |
Loans and Other Debts Due to Members
Loans and other debts due to members represents profits which have been allocated but not yet paid to members. These profits are due to be paid within one year and would rank after unsecured creditors in the event of a winding-up.
|
2
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