Action Strategies LLP - LLP accounts 22.3

REGISTERED NUMBER: OC307737 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ACTION STRATEGIES LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Mr D Foxon

Mrs R Foxon

REGISTERED OFFICE:

11 Campriano Drive

Warwick

Warwickshire

CV34 4NQ

REGISTERED NUMBER:

OC307737 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of multi disciplinary professional services.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr D Foxon

Mrs R Foxon

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £20,072 (2022 - £3,625 profit).

MEMBERS' INTERESTS

The profit for the year is distributed between the members in accordance with the LLP agreement.

ON BEHALF OF THE MEMBERS:

Mr D Foxon - Designated member

7 June 2023

TURNOVER

14,630

11,380

Administrative expenses

33,164

26,977

(18,534

)

(15,597

)

Other operating income

-

19,668

OPERATING (LOSS)/PROFIT

(18,534

)

4,071

Interest payable and similar expenses

1,538

446

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

(20,072

)

3,625

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

20,065

6,131

20,065

6,131

CURRENT ASSETS

Debtors

17,295

17,210

Cash at bank

1

17,296

17,211

CREDITORS

Amounts falling due within one year

6

9,017

1,823

NET CURRENT ASSETS

8,279

15,388

TOTAL ASSETS LESS CURRENT
LIABILITIES

28,344

21,519

CREDITORS

Amounts falling due after more than one
year

7

28,344

21,519

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

-

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

(17,295

)

(17,210

)

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 2023.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 7 June 2023 and were signed by:

Mr D Foxon - Designated member

Mrs R Foxon - Designated member

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Equipment

-

25% on reducing balance

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.

Going concern

The financial statements have been prepared on the going concern concept. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of it's creditors. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

200

AMORTISATION

At 1 April 2022

and 31 March 2023

200

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

Equipment

Totals

£

COST

At 1 April 2022

27,255

17,830

45,085

Additions

19,475

1,862

21,337

Disposals

(16,925

)

-

(16,925

)

At 31 March 2023

29,805

19,692

49,497

DEPRECIATION

At 1 April 2022

25,958

12,996

38,954

Charge for year

5,014

1,674

6,688

Eliminated on disposal

(16,210

)

-

(16,210

)

At 31 March 2023

14,762

14,670

29,432

NET BOOK VALUE

At 31 March 2023

15,043

5,022

20,065

At 31 March 2022

1,297

4,834

6,131

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Bank loans and overdrafts

4,803

1,146

Hire purchase contracts

3,494

-

Other creditors

720

677

9,017

1,823

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2023

2022

£

Bank loans

19,150

21,519

Hire purchase contracts

9,194

-

28,344

21,519

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,065

10,200