Parker Lloyd Audit LLP - LLP accounts 23.2

REGISTERED NUMBER: OC389464 (England and Wales)

Report of the Members and

Financial Statements

for the Year Ended 30 November 2023

for

Parker Lloyd Audit LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

5

Designated members:

A Sharma

GKP Partnership Limited

Registered office:

Ground Floor Chiswick Gate 598-608,

Chiswick High Road

London

W4 5RT

Registered number:

OC389464 (England and Wales)

Accountants:

GKP Partnership

Ground Floor

Chiswick Gate

598 -608 Chiswick High Road

London

W4 5RT

The members present their report with the financial statements of the LLP for the year ended 30 November 2023.

Principal activity

The principal activity of the LLP in the year under review was that of The principal activity of the LLP in the year under review was that of auditing and providing assurance services for

financial statements through acting as a regulated audit firm with audit registration as a member firm of the ICAEW.

Designated members

The designated members during the year under review were:

A Sharma

GKP Partnership Limited

Results for the year and allocation to members

The loss for the year before members' remuneration and profit shares was £3,140 (2022 - £1,642 loss).

Members' interests

On behalf of the members:

A Sharma - Designated member

7 June 2024

Revenue

38,000

52,167

Cost of sales

(29,220

)

(50,207

)

Gross profit

8,780

1,960

Administrative expenses

(11,220

)

(2,985

)

Operating loss

(2,440

)

(1,025

)

Interest payable and similar expenses

(700

)

(617

)

Loss for the financial year before
members' remuneration and profit
shares available for discretionary
division among members

(3,140

)

(1,642

)

Current assets

Debtors

4

26,563

35,711

Cash at bank

72,699

79,010

99,262

114,721

Creditors

Amounts falling due within one year

5

(8,601

)

(21,194

)

Net current assets

90,661

93,527

Total assets less current liabilities

90,661

93,527

Creditors

Amounts falling due after more than one
year

6

(21,481

)

(22,098

)

Net assets attributable to members

69,180

71,429

Loans and other debts due to
members

69,180

71,429

Total members' interests

Loans and other debts due to members

69,180

71,429

Amounts due from members

4

-

(27,171

)

69,180

44,258

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 November 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 2024 and were signed by:

A Sharma - Designated member

1.	Statutory information

Parker Lloyd Audit 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

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

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

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.

3.	Employee information

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

4.

Debtors: amounts falling due within one year

30.11.23

30.11.22

£

Trade debtors

22,800

8,540

Other debtors

3,763

27,171

26,563

35,711

5.

Creditors: amounts falling due within one year

30.11.23

30.11.22

£

Trade creditors

8,601

14,001

Taxation and social security

-

7,193

8,601

21,194

6.

Creditors: amounts falling due after more than one year

30.11.23

30.11.22

£

Bank loans

21,481

22,098