Entourage Management LLP - Accounts to registrar (filleted) - small 23.1.2
Entourage Management LLP - Accounts to registrar (filleted) - small 23.1.2
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31 March 2023 |
for |
Entourage Management LLP |
Entourage Management LLP (Registered number: OC351807) |
Contents of the Financial Statements |
For The Year Ended 31 March 2023 |
Page |
General information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Entourage Management LLP |
General Information |
For The Year Ended 31 March 2023 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
Chartered Certified Accountants |
Suite 11, Manchester House |
113 Northgate Street |
Bury St Edmunds |
Suffolk |
IP33 1HP |
Entourage Management LLP (Registered number: OC351807) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
and |
Net assets attributable to members | 8,020,000 | 8,020,000 |
Loans and other debts due to members | 10 | 20,000 | 20,000 |
Members' other interests |
Capital accounts | 8,000,000 | 8,000,000 |
8,020,000 | 8,020,000 |
Total members' interests |
Loans and other debts due to members | 10 | 20,000 | 20,000 |
Members' other interests | 8,000,000 | 8,000,000 |
8,020,000 | 8,020,000 |
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. |
Entourage Management LLP (Registered number: OC351807) |
Balance Sheet - continued |
31 March 2023 |
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 |
Entourage Management LLP (Registered number: OC351807) |
Notes to the Financial Statements |
For The Year Ended 31 March 2023 |
1. | Statutory information |
Entourage Management 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 |
Going concern |
Given the positive nature of the balance sheet the members have a reasonable expectation that the LLP has adequate resources to continue in existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover represents amounts invoiced during the year, exclusive of Value Added Tax. Turnover is recognised at the point the service is provided. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Depreciation is not provided on the freehold property on the grounds that the depreciation charge and accumulated depreciation are immaterial, as the Members estimate that the residual value of the property is not significantly different to its cost. The freehold property is subject to an annual impairment review to ensure the carrying amount is not materially misstated. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Hire purchase and leasing commitments |
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term. |
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed |
Members' participation rights |
Members' participation rights are the rights of a member against the limited liability partnership that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits). |
Members' participation rights in the earnings or assets of the limited liability partnership are analysed between those that are, from the limited liability partnership's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the limited liability partnership has an unconditional right to refuse payment to members, in which case they are classified as equity. |
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests. |
Taxation |
The taxation payable on the partnership profits is solely the personal liability of the individual members consequently neither partnership taxation nor related deferred taxation arising in respect of the partnership are accounted for in these financial statements. |
Entourage Management LLP (Registered number: OC351807) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
3. | Employee information |
The average number of employees during the year was |
4. | Tangible fixed assets |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1 April 2022 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
5. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 April 2022 |
and 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
6. | Debtors |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Entourage Management LLP (Registered number: OC351807) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | Loans |
The bank loans and overdrafts aggregate amount of £Nil (2022: £2,772,562) was secured by a fixed charge on the freehold property and a floating charge over the assets of the LLP. |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | Loans and other debts due to members |
In the event of a winding up the amounts included in "Loans and other debtors due to members" will rank equally with unsecured creditors. |