Prentis & Co LLP - Accounts to registrar (filleted) - small 23.2.5

Prentis & Co LLP - Accounts to registrar (filleted) - small 23.2.5

PRENTIS & CO LLP - Company Information

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IRIS Accounts Production v23.3.1.45 OC333362 designated member designated member 1.5.22 30.4.23 30.4.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3333622022-04-30OC3333622023-04-30OC3333622022-05-012023-04-30OC3333622021-04-30OC3333622021-05-012022-04-30OC3333622022-04-30OC333362ns16:EnglandWales2022-05-012023-04-30OC333362ns15:PoundSterling2022-05-012023-04-30OC333362ns11:Director12022-05-012023-04-30OC333362ns11:Director22022-05-012023-04-30OC333362ns11:LimitedLiabilityPartnershipLLP2022-05-012023-04-30OC333362ns11:SmallEntities2022-05-012023-04-30OC333362ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-30OC333362ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-30OC333362ns11:LimitedLiabilityPartnershipsSORP2022-05-012023-04-30OC333362ns11:FullAccounts2022-05-012023-04-30OC333362ns6:CurrentFinancialInstruments2023-04-30OC333362ns6:CurrentFinancialInstruments2022-04-30OC333362ns11:RegisteredOffice2022-05-012023-04-30OC333362ns6:ComputerEquipment2022-05-012023-04-30OC333362ns6:ComputerEquipment2022-04-30OC333362ns6:ComputerEquipment2023-04-30OC333362ns6:ComputerEquipment2022-04-30OC333362ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-30OC333362ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-30
REGISTERED NUMBER: OC333362 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

PRENTIS & CO LLP
PRENTIS & CO LLP (REGISTERED NUMBER: OC333362)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


PRENTIS & CO LLP (REGISTERED NUMBER: OC333362)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,236 8,929

CURRENT ASSETS
Stocks 400 400
Debtors 5 415,425 310,097
Cash at bank and in hand 167,175 252,807
583,000 563,304
CREDITORS
Amounts falling due within one year 6 116,635 105,646
NET CURRENT ASSETS 466,365 457,658
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
475,601
466,587

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
475,601
466,587

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 475,601 466,587

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 30 April 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 notes on pages 3 to 4 form part of these financial statements

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PRENTIS & CO LLP (REGISTERED NUMBER: OC333362)

BALANCE SHEET - continued
30 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 January 2024 and were signed by:




N A Prentis FCA - Designated member




I W Shipley FCCA - Designated member


The notes on pages 3 to 4 form part of these financial statements

Page 2
PRENTIS & CO LLP (REGISTERED NUMBER: OC333362)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Prentis & Co LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC333362

Registered office: 115c Milton Road
Cambridge
CB4 1XE

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Amounts due under contracts
Contracts and work incomplete at the year end is accrued at the stage of completion of each contract. The LLP recognises revenue at that stage.

Taxation
The taxation payable on the LLP's profits is the personal liability of the equity members. Retention from profits earned up to the balance sheet date is made to fund payment of taxation on members' behalf.

Member remuneration
Profits available for the distribution are agreed in accordance with the members' agreement and subsequent member meetings and included within loans and other debts due to members. This includes profit that has been allocated but remains undrawn.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 14 (2022 - 15 ) .

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PRENTIS & CO LLP (REGISTERED NUMBER: OC333362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
computer
equipment
£   
COST
At 1 May 2022 94,723
Additions 5,127
At 30 April 2023 99,850
DEPRECIATION
At 1 May 2022 85,794
Charge for year 4,820
At 30 April 2023 90,614
NET BOOK VALUE
At 30 April 2023 9,236
At 30 April 2022 8,929

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 209,941 123,563
Amounts recoverable on contract 147,116 132,600
Other debtors 58,368 53,934
415,425 310,097

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,292 46,481
Taxation and social security 43,071 30,254
Other creditors 17,272 28,911
116,635 105,646

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and debts due to members are ranked equally with other unsecured creditors of the partnership.

8. RELATED PARTY DISCLOSURES

Prentis & Co LLP is under the control of its designated partners.

Payments of £30,000 were made to Mr and Mrs N Prentis for the lease of office buildings. The rent is set at a market rate. Nothing was owed in respect of outstanding rent at the year end.

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