Howell Brooks & Partners LLP
Howell Brooks & Partners LLP
Registered number: OC318410
Unaudited Financial Statements
For The Year Ended
31 March 2023
D S Burge & Co Ltd
Howell Brooks & Partners LLP
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Page 1
Howell Brooks & Partners LLP
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
OC318410
For the year ending 31 March 2023 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 LLPs 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.
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.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 3 |
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Tangible Assets | 4 |
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CURRENT ASSETS | |||||
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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Creditors: Amounts Falling Due After More Than One Year | 7 |
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NET ASSETS ATTRIBUTABLE TO MEMBERS |
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REPRESENTED BY: | |||||
TOTAL MEMBERS' INTEREST | |||||
Amounts due from members | (83,404) | (85,415) | |||
(83,404) | (85,415) | ||||
Page 1
Page 2
Howell Brooks & Partners LLP
Balance Sheet (continued)
As At
31 March 2023
On behalf of the members
Designated Member
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Designated Member
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Howell Brooks & Partners LLP
Notes to the Financial Statements
For The Year Ended
31 March 2023
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 2021 (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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4.
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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Fixtures & Fittings |
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Computer Equipment |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.
Average Number of Employees
Average number of employees, including members, during the year was as follows: 8 (2022: 8)
Page 3
Page 4
Howell Brooks & Partners LLP
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
3.
Intangible Assets
Goodwill | |||
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£ | |||
Cost | |||
As at
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Additions |
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As at
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Net Book Value | |||
As at
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As at
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4.
Tangible Assets
Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | £ | |
Cost | ||||
As at
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Additions |
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As at
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Depreciation | ||||
As at
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Provided during the period |
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As at
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Net Book Value | ||||
As at
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As at
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5.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Amounts due from members | 83,404 | 85,415 | |
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Page 5
Howell Brooks & Partners LLP
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
6.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Bank loans and overdrafts |
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Other taxes and social security |
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VAT |
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Net wages | 19 | 2,193 | |
Other creditors |
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Amounts owed to group undertakings |
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7.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Bank loans |
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8.
Obligations Under Finance Leases and Hire Purchase
2023 | 2022 | ||
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£ | £ | ||
The maturity of these amounts is as follows: | |||
Within one year |
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9.
General Information
Howell Brooks & Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number
OC318410
. The Registered Office is 4th Floor, Becket House, 36 Old Jewry, London, EC2R 8DD.
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