Energy Management Matters LLP - Period Ending 2023-03-31
Energy Management Matters LLP - Period Ending 2023-03-31
Registration number:
Energy Management Matters LLP
for the period from 1 August 2022 to 31 March 2023
Filleted
Energy Management Matters LLP
Contents
Limited liability partnership information |
|
Members' Report |
|
Accountants' Report |
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Financial Statements |
|
Profit and Loss Account |
|
Balance Sheet |
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Notes to the Financial Statements |
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Non-statutory pages |
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Detailed Profit and Loss Account |
|
Schedule of Members' Interests |
Energy Management Matters LLP
Limited liability partnership information
Designated members |
|
Registered office |
|
Principal place of business |
Wraxall Cottage |
Bankers |
|
Accountants |
Kennedy Legg |
Energy Management Matters LLP
Members' Report for the period from 1 August 2022 to 31 March 2023
The members present their report and the unaudited financial statements for the period from 1 August 2022 to 31 March 2023.
Designated members
The members who held office during the period were as follows:
Members' drawings and the subscription and repayment of members' capital
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years, members are invited to subscribe for further capital, the amount of which is determined by the performance and seniority of these members. On retirement capital is repaid to members.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.
Approved by the
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Chartered Certified Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Energy Management Matters LLP
for the Period Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Energy Management Matters LLP for the period ended 31 March 2023 set out on pages 4 to 13 from the limited liability partnership's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
http://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the members of Energy Management Matters LLP, as a body, in accordance with the terms of our engagement letter dated 24 September 2009. Our work has been undertaken solely to prepare for your approval the accounts of Energy Management Matters LLP and state those matters that we have agreed to state to the members of Energy Management Matters LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Energy Management Matters LLP and its members as a body for our work or for this report.
It is your duty to ensure that Energy Management Matters LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Energy Management Matters LLP. You consider that Energy Management Matters LLP is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Energy Management Matters LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW
14 December 2023
Energy Management Matters LLP
Profit and Loss Account for the Period from 1 August 2022 to 31 March 2023
Note |
Total |
(As restated) |
|
Turnover |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
- |
|
|
Operating profit |
|
|
|
Profit/(loss) on disposal of operations |
|
( |
|
Other interest receivable and similar income |
|
|
|
Profit for the period before members' remuneration and profit shares |
|
|
|
Members' remuneration charged as an expense |
(80,081) |
32,428 |
|
Profit/(loss) for the period available for discretionary division among members |
- |
- |
Turnover and operating profit derive wholly from continuing operations.
The limited liability partnership has no recognised gains or losses for the period other than the results above.
Energy Management Matters LLP
(Registration number: OC347335)
Balance Sheet as at 31 March 2023
Note |
31 March 2023 |
(As restated) |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets attributable to members |
|
|
|
Represented by: |
|||
Loans and other debts due to members |
|||
Members' capital classified as a liability |
323,595 |
1,371,710 |
|
Members’ other interests |
|||
Members' capital classified as equity |
8,515,000 |
8,515,000 |
|
8,838,595 |
9,886,710 |
||
Total members' interests |
|||
Loans and other debts due to members |
323,595 |
1,371,710 |
|
Equity |
|
|
|
8,838,595 |
9,886,710 |
For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
Energy Management Matters LLP
(Registration number: OC347335)
Balance Sheet as at 31 March 2023
The financial statements of Energy Management Matters LLP (registered number OC347335) were approved by the
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Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Energy Management Matters LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
other taxes policy
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment.
Tangible fixed assets
Freehold property is stated in the balance sheet at market value, other fixed assets are stated at cost less accumulated depreciation.
Depreciation
Depreciation is provided on tangible assets so as to write off the cost or valuation, less any residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
30% reducing balance basis/ 4% straight line basis |
Fixtures and fittings |
20% reducing balance basis |
Motor vehicles |
25% reducing balance basis |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Financial instruments
Classification
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Recognition and Measurement
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
Impairment of financial assets
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Current versus non-current classification
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
In the limited liability partnership balance sheet, investments in subsidiaries and associates are measured at cost less impairment.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the period was
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Tangible fixed assets |
Freehold land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Other tangibles |
Total |
|
Cost |
||||||
At 1 August 2022 |
3,892,952 |
54,915 |
10,837 |
48,679 |
686,381 |
4,693,764 |
Additions |
- |
- |
- |
46,130 |
- |
46,130 |
Disposals |
- |
- |
- |
(12,500) |
- |
(12,500) |
At 31 March 2023 |
3,892,952 |
54,915 |
10,837 |
82,309 |
686,381 |
4,727,394 |
Depreciation |
||||||
At 1 August 2022 |
- |
9,661 |
5,696 |
40,818 |
- |
56,175 |
Charge for the year |
- |
2,585 |
1,028 |
13,399 |
- |
17,012 |
Eliminated on disposals |
- |
- |
- |
(12,104) |
- |
(12,104) |
At 31 March 2023 |
- |
12,246 |
6,724 |
42,113 |
- |
61,083 |
Net book value |
||||||
At 31 March 2023 |
3,892,952 |
42,669 |
4,113 |
40,196 |
686,381 |
4,666,311 |
At 31 July 2022 |
3,892,952 |
45,254 |
5,141 |
7,861 |
686,381 |
4,637,589 |
Energy Management Matters LLP
Notes to the Financial Statements for the Period from 1 August 2022 to 31 March 2023
Investments held as fixed assets |
2023 |
2022 |
|
Other investments |
|
|
Other investments
Unlisted investments |
Total |
|
Cost |
||
At 1 August 2022 |
2,676,130 |
2,676,130 |
Additions |
5,590 |
5,590 |
Disposals |
(50,000) |
(50,000) |
At 31 March 2023 |
2,631,720 |
2,631,720 |
Net book value |
||
At 31 March 2023 |
2,631,720 |
2,631,720 |
At 31 July 2022 |
2,676,130 |
2,676,130 |
Debtors |
2023 |
2022 |
|
Trade debtors |
- |
|
Other debtors |
|
|
Prepayments and accrued income |
|
|
Total current trade and other debtors |
508,439 |
511,846 |
Creditors: Amounts falling due within one year |
2023 |
2022 |
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
Energy Management Matters LLP
Detailed Profit and Loss Account for the Period from 1 August 2022 to 31 March 2023
1 August 2022 to 31 March 2023 |
(As restated) |
|
Turnover (analysed below) |
70,009 |
108,277 |
Gross profit (%) |
100% |
100% |
Administrative expenses |
||
Employment costs (analysed below) |
13,270 |
31,825 |
General administrative expenses (analysed below) |
19,991 |
42,705 |
Depreciation costs (analysed below) |
17,012 |
6,709 |
(50,273) |
(81,239) |
|
Other operating income (analysed below) |
- |
3,750 |
(Profit)/loss on disposal of operations (analysed below) |
(7,104) |
70,637 |
Operating profit/(loss) |
26,840 |
(39,849) |
Other interest receivable and similar income (analysed below) |
53,241 |
7,421 |
Profit/(loss) for the period before members' remuneration charged as an expense |
80,081 |
(32,428) |
Energy Management Matters LLP
Detailed Profit and Loss Account for the Period from 1 August 2022 to 31 March 2023
2023 |
2022 |
Turnover |
||
Sales |
5,197 |
15,881 |
Rental income |
64,812 |
92,396 |
70,009 |
108,277 |
Cost of sales |
||
Direct costs |
- |
- |
Employment costs |
||
Wages and salaries |
9,277 |
26,555 |
Staff pensions (Defined contribution) |
153 |
619 |
Commissions payable |
3,840 |
4,651 |
13,270 |
31,825 |
General administrative expenses |
||
Rent |
220 |
200 |
Rates |
631 |
84 |
Light, heat and power |
516 |
114 |
Insurance |
2,198 |
5,488 |
Use of home as office |
312 |
312 |
Repairs and renewals |
3,287 |
7,575 |
Telephone |
399 |
547 |
Computer software and maintenance costs |
- |
299 |
Printing, postage and stationery |
42 |
64 |
Trade subscriptions |
320 |
373 |
Sundry expenses |
- |
2,220 |
Cleaning |
160 |
40 |
Management charges payable |
496 |
1,800 |
Motor expenses |
3,677 |
6,586 |
Travel and subsistence |
25 |
17 |
Accountancy fees |
7,520 |
16,718 |
Legal and professional fees |
120 |
173 |
Bank charges |
68 |
95 |
19,991 |
42,705 |
Depreciation costs |
||
Depreciation of plant and machinery (owned) |
2,585 |
2,803 |
Depreciation of fixtures and fittings (owned) |
1,028 |
1,285 |
Depreciation of motor vehicles (owned) |
13,399 |
2,621 |
17,012 |
6,709 |
Energy Management Matters LLP
Detailed Profit and Loss Account for the Period from 1 August 2022 to 31 March 2023
(Profit)/loss on disposals |
||
(Profit)/loss on disposal of intangible fixed assets |
- |
70,740 |
(Profit)/loss on disposal of tangible fixed assets |
(7,104) |
(103) |
(7,104) |
70,637 |
Other interest receivable and similar income |
||
Income from other investments (listed) |
45,751 |
- |
Bank interest receivable |
2,892 |
668 |
Other interest receivable |
4,598 |
6,753 |
53,241 |
7,421 |
Energy Management Matters LLP
Schedule of Members' Interests for the Period from 1 August 2022 to 31 March 2023
Amounts due to members in respect of profits
As at 1 August 2022 |
Other movement |
Profit/(loss) for the period |
Drawings |
As at 31 March 2023 |
|
GM Weston |
1,567,257 |
7,824 |
53,336 |
(1,135,618) |
492,799 |
Professional Engineering Matters Limited |
(76,859) |
- |
5,846 |
(201) |
(71,214) |
Energy Measurement Limited |
(118,688) |
- |
20,899 |
(201) |
(97,990) |
1,371,710 |
7,824 |
80,081 |
(1,136,019) |
323,595 |
Drawings analysis
General drawings |
Total |
|
GM Weston |
1,135,618 |
1,135,618 |
Professional Engineering Matters Limited |
201 |
201 |
Energy Measurement Limited |
201 |
201 |
1,136,019 |
1,136,019 |
Members' capital
As at 1 August 2022 |
As at 31 March 2023 |
|
GM Weston |
30,000 |
30,000 |
Professional Engineering Matters Limited |
1,855,000 |
1,855,000 |
Energy Measurement Limited |
6,630,000 |
6,630,000 |
8,515,000 |
8,515,000 |