Lees Architects LLP
Lees Architects LLP
Registered number: OC433366
Unaudited Financial Statements
For The Year Ended
30 September 2022
A K E Tax & Accountancy Ltd
Chartered Certified Accountants & Registered Auditors
Ambition Broxbourne Business Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Lees Architects LLP
Unaudited Financial Statements
For The Year Ended
30 September 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Lees Architects LLP
Balance Sheet
As at
30 September 2022
Balance Sheet
Registered number:
OC433366
For the year ending 30 September 2022 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 LLP's 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.
| 30 September 2022 | 30 September 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Equity | |||||
| Members' other interests | |||||
| Members' capital | (17,060) | - | |||
| Other reserves | 50,089 | 47,916 | |||
| 33,029 | 47,916 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Members' other interests | 33,029 | 47,916 | |||
| 33,029 | 47,916 | ||||
Lees Architects LLP
Balance Sheet (continued)
As at
30 September 2022
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
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Designated Member
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The notes on pages 3 to 5 form part of these financial statements.
Lees Architects LLP
Notes to the Financial Statements
For The Year Ended
30 September 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
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 2018 (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.
1.2.
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 rendering of services.
Rendering of services
Turnover from the rendering of services is recognised in the period the services are provided.
1.3.
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 |
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| Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
1.6.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.
Average Number of Employees
Average number of employees, including members, during the year was as follows: 1 (2021: 1)
Lees Architects LLP
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2022
3.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
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| Depreciation | |||
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| Net Book Value | |||
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4.
Stocks
| 30 September 2022 | 30 September 2021 | ||
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| £ | £ | ||
| Stock - work in progress |
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5.
Debtors
| 30 September 2022 | 30 September 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | - | 6,380 | |
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6.
Creditors: Amounts Falling Due Within One Year
| 30 September 2022 | 30 September 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to participating interests | 691 | - | |
| Other creditors | 33,434 | 27,737 | |
| Taxation and social security | 5,385 | 6,740 | |
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Lees Architects LLP
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2022
7.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | ||
|---|---|---|
| 30 September 2022 | 30 September 2021 | |
| £ | £ | |
| Within 1 year | 7,200 | 7,200 |
| 7,200 | 7,200 | |
8.
Related Party Transactions
Lees Property & Design Limited
The above is a related party due to the related party being a partner in the LLP.
At the balance sheet date the LLP owed the related party £16,885 (2021: £11,456).
During the period services were provided by the related party amounting to £145,264 (2021: £43,569).
No interest has been charged on this loan during the period.
SB Architects Limited
The above is a related party due to the related party being a partner in the LLP.
At the balance sheet date the LLP owed the related party £14,249 (2021: £5,687).
During the period services were provided by the related party amounting to £99,829 (2021: £35,796).
No interest has been charged on this loan during the period.
9.
Ultimate Controlling Party
The LLP's ultimate controlling parties are Lees Property & Design Ltd and SB-Architects Ltd.
10.
General Information
Lees Architects LLP is a limited liability partnership, incorporated in England & Wales, registered number
OC433366
. The Registered Office is 224a High Street, Barnet, Hertfordshire, EN5 5SZ.