Registered number: OC433976 | ||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||
IFE and Gravitas members LLP | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||
DESIGNATED MEMBERS | ||||||||
REGISTERED OFFICE | ||||||||
Essex | ||||||||
COMPANY NUMBER | ||||||||
IFE and Gravitas members LLP | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Report of the Members | 3 | |||||||
Profit and Loss Account | 4 | |||||||
Balance Sheet | 5 | |||||||
Notes to the Accounts | 7 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading and Profit and Loss Account | 11 | |||||||
Profit and Loss Account Summaries | 12 | |||||||
Capital Accounts | - | |||||||
Current Accounts | - | |||||||
IFE and Gravitas members LLP | ||||||||
MEMBERS' REPORT | ||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||
The members present their report and accounts for the year ended 31/03/2023 | ||||||||
PRINCIPAL ACTIVITIES | ||||||||
The principal activity of the LLP in the year under review was management and HR services . | ||||||||
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS | ||||||||
The profit for the year before members' remuneration and profit shares was £536,044 (2022 £395,756). | ||||||||
DRAWINGS POLICY | ||||||||
The LLP operates a drawings policy which has regard to a cautious estimate of expected profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual members' allocations have been determined. | ||||||||
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs. | ||||||||
This report was approved on behalf of the members on 15/05/2023 | ||||||||
Jamie Cramer | ||||||||
Designated member |
IFE and Gravitas members LLP | ||||||||
PROFIT AND LOSS ACCOUNT | ||||||||
FOR THE YEAR ENDED31/03/2023 | ||||||||
Notes | 2023 | 2022 | ||||||
£ | £ | |||||||
TURNOVER | 3 | 608,011 | 411,805 | |||||
GROSS PROFIT | 608,011 | 411,805 | ||||||
Administrative expenses | (72,079) | (16,049) | ||||||
OPERATING PROFIT | 535,932 | 395,756 | ||||||
Interest receivable and similar income | 112 | - | ||||||
PROFIT FOR THE FINANCIALYEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS | 536,044 | 395,756 | ||||||
IFE and Gravitas members LLP | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 7 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 8 | |||||||||
Cash at bank and in hand | ||||||||||
1,268,642 | 776,474 | |||||||||
CREDITORS: Amounts falling due within one year | 9 | |||||||||
NET CURRENT ASSETS | 197,487 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 10 | |||||||||
NET ASSETS ATTRIBUTABLE TO MEMBERS | 536,044 | 195,420 | ||||||||
LOANS AND OTHER DEBTS DUE TO MEMBERS | 12 | 536,044 | 195,420 | |||||||
MEMBERS ' OTHER INTERESTS | ||||||||||
536,044 | 195,420 | |||||||||
TOTAL MEMBERS' INTERESTS | ||||||||||
Loans and other debts due to members | 12 | 536,044 | 195,420 | |||||||
Amounts due from members | 8 | (389,205) | - | |||||||
146,839 | 195,420 |
IFE and Gravitas members LLP | ||||||||
BALANCE SHEET AT | ||||||||
Approved by the members on | ||||||||
............................. | ||||||||
Designated Member | ||||||||
............................. | ||||||||
D Parish | ||||||||
IFE and Gravitas members LLP | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1b. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. |
1b. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. |
1c. Depreciation | ||||||||
Motor Cars | reducing balance 25% |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
2. INFORMATION IN RELATION TO MEMBERS | 2023 | 2022 | ||||
The average number of members during the year was | 8 | 7 | ||||
IFE and Gravitas members LLP | ||||||||
3. TURNOVER | ||||||||
The turnover and pre-tax result is attributable to management and HR services. | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Sales | 608,011 | 411,805 | ||||||
608,011 | 411,805 | |||||||
4. OPERATING PROFIT | ||||||
2023 | 2022 | |||||
£ | £ | |||||
Operating Profit is stated after charging: | ||||||
Depreciation | 1,542 | - | ||||
1,542 | - | |||||
5. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
6. PENSION CONTRIBUTIONS | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Pension contributions | 44,544 | 11,830 | ||||||
44,544 | 11,830 | |||||||
IFE and Gravitas members LLP | ||||||||
7. TANGIBLE FIXED ASSETS | ||||
Motor Cars | Total | |||
£ | £ | |||
Cost | ||||
Additions | 73,990 | 73,990 | ||
At 31/03/2023 | 73,990 | 73,990 | ||
Depreciation | ||||
For the year | 1,542 | 1,542 | ||
At 31/03/2023 | 1,542 | 1,542 | ||
Net Book Amounts | ||||
At 31/03/2023 | 72,448 | |||
8. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 61,957 | 63,338 | ||||||
Amounts due from members | 389,205 | - | ||||||
Other Debtors | 584,454 | 627,247 | ||||||
1,035,616 | 690,585 | |||||||
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Taxation and social security | 26,892 | 28,533 | ||||||
Other creditors | 773,654 | 550,454 | ||||||
800,546 | 578,987 | |||||||
IFE and Gravitas members LLP | ||||||||
10. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Pensions | 4,500 | 2,067 | ||||||
4,500 | 2,067 | |||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||
12. LOANS AND OTHER DEBTS DUE TO MEMBERS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts due to members | 536,044 | 195,420 | ||||||
The loans and debts due to members rank equally with debts due to ordinary creditors in a winding up. | ||||||||
13. MEMBERS INTERESTS | ||||||||||
Members' capital (classified as equity) | Reserves | Total | Loans and other debts due to/(from) members | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Amount due to members | 195,420 | |||||||||
Balance at 01/04/2022 | - | - | - | 195,420 | 195,420 | |||||
Profit for the financial year available for discretionary division among members | 536,044 | 536,044 | - | 536,044 | ||||||
Members' interests after profit for the year | - | 536,044 | 536,044 | 195,420 | 731,464 | |||||
Other divisions of profit | (536,044) | (536,044) | 536,044 | |||||||
Drawings | (584,625) | (584,625) | ||||||||
Amount due to members | 536,044 | |||||||||
Amount due from members | (389,205) | |||||||||
Balance at 31/03/2023 | - | - | - | 146,839 | 146,839 | |||||
IFE and Gravitas members LLP | ||||||||
TRADING AND PROFIT AND LOSS ACCOUNT | ||||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||||
2023 | 2022 | |||||||||
£ | £ | |||||||||
Turnover | 608,011 | 411,805 | ||||||||
Cost of Sales: | ||||||||||
Gross Profit | ||||||||||
608,011 | 411,805 | |||||||||
Less: | ||||||||||
Administrative expenses | ||||||||||
Interest receivable and similar income | (112) | - | ||||||||
71,967 | 16,049 | |||||||||
Net profit for the year before taxation | ||||||||||
Net profit for the year after taxation | ||||||||||
Retained profits carried forward | 536,044 | 395,756 | ||||||||
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only. |
IFE and Gravitas members LLP | ||||||||
PROFIT AND LOSS ACCOUNT SUMMARIES | ||||||||||
FOR THE YEAR ENDED 31/03/2023 | ||||||||||
2023 | 2022 | |||||||||
£ | £ | |||||||||
Administrative Expenses: | ||||||||||
Insurance | 13,868 | 429 | ||||||||
Pension contributions | 44,544 | 11,830 | ||||||||
Computer costs | - | 1,000 | ||||||||
Motor expenses | 5,056 | - | ||||||||
Accountancy fees | 6,017 | 2,788 | ||||||||
Subscriptions | 1,036 | - | ||||||||
Bank charges | 16 | 2 | ||||||||
Depreciation and Amortisation: | ||||||||||
Depreciation of motor cars | 1,542 | - | ||||||||
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only. |