Mudd Partners LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC413949 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Mudd Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J A Stanley

C M Jones

P Alexandrou

C D Walby

M Wright

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

OC413949 (England and Wales)

FIXED ASSETS

Tangible assets

4

24,372

29,634

CURRENT ASSETS

Stocks

18,450

35,421

Debtors

5

750,299

777,357

Cash at bank and in hand

224,420

149,506

993,169

962,284

CREDITORS

Amounts falling due within one year

6

369,319

393,450

NET CURRENT ASSETS

623,850

568,834

TOTAL ASSETS LESS CURRENT LIABILITIES

648,222

598,468

CREDITORS

Amounts falling due after more than one year

7

215,853

75,697

NET ASSETS ATTRIBUTABLE TO MEMBERS

432,369

522,771

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

432,369

522,771

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

432,369

522,771

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18 November 2022 and were signed by:

J A Stanley - Designated member

1.	STATUTORY INFORMATION

Mudd Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Work in progress

Work in progress is stated at fair value, representing its anticipated recoverable amount.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 32 (2021 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

66,530

Additions

2,695

At 31 March 2022

69,225

DEPRECIATION

At 1 April 2021

36,896

Charge for year

7,957

At 31 March 2022

44,853

NET BOOK VALUE

At 31 March 2022

24,372

At 31 March 2021

29,634

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

697,045

721,879

Other debtors

53,254

55,478

750,299

777,357

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

53,900

-

Trade creditors

63,508

41,475

Other creditors

251,911

351,975

369,319

393,450

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

196,100

50,000

Other creditors

19,753

25,697

215,853

75,697

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.22

31.3.21

£

£

Within one year

66,000

66,000

Between one and five years

264,000

264,000

In more than five years

33,000

99,000

363,000

429,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Bank loans

250,000

50,000

The LLP has an overdraft facility with Barclays Bank which is secured by a debenture creating a fixed and floating charge over all assets of the LLP.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.22

31.3.21

£

£

Amounts owed to members in respect of profits

432,369

522,771

Falling due within one year

432,369

522,771

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

11.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by its members, none of whom has a individual controlling interest.