Raffingers LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC310176 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

RAFFINGERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr L E Manning FCCA

Mr G B Soraff FCCA

Mr A H Moody BA (Hons) FCCA

Mr G P Inglis BA(Hons) FFA

Mr T Sudarshan FCCA

Mr A A Coney FCCA

Mr P Dell FCA

Raffingers Advisory Limited

Alexander Ash & Co Limited

Mr R K Butcher

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

OC310176 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Intangible assets

4

945,735

1,049,545

Tangible assets

5

58,267

17,077

1,004,002

1,066,622

CURRENT ASSETS

Debtors

6

2,507,396

2,514,542

Cash at bank

1,508,736

1,472,591

4,016,132

3,987,133

CREDITORS

Amounts falling due within one year

7

1,515,383

1,548,064

NET CURRENT ASSETS

2,500,749

2,439,069

TOTAL ASSETS LESS CURRENT LIABILITIES

3,504,751

3,505,691

CREDITORS

Amounts falling due after more than one year

8

1,378,161

1,662,760

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,126,590

1,842,931

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

2,126,590

1,842,931

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

2,126,590

1,842,931

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 31 December 2021.

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 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 August 2022 and were signed by:

Mr A H Moody BA (Hons) FCCA - Designated member

1.	STATUTORY INFORMATION

Raffingers LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection the purchase of businesses in the current and prior years, is being amortised evenly over its estimated useful life of 10-20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 67 (2020 - 61 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

1,362,219

AMORTISATION

At 1 January 2021

312,674

Charge for year

103,810

At 31 December 2021

416,484

NET BOOK VALUE

At 31 December 2021

945,735

At 31 December 2020

1,049,545

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 January 2021

129

36,456

36,585

Additions

11,746

48,919

60,665

At 31 December 2021

11,875

85,375

97,250

DEPRECIATION

At 1 January 2021

80

19,428

19,508

Charge for year

2,985

16,490

19,475

At 31 December 2021

3,065

35,918

38,983

NET BOOK VALUE

At 31 December 2021

8,810

49,457

58,267

At 31 December 2020

49

17,028

17,077

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,461,376

1,312,514

Amounts recoverable on contract

485,680

704,557

Other debtors

560,340

497,471

2,507,396

2,514,542

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

371,155

271,576

Payments on account

348,988

294,595

Trade creditors

156,592

89,394

Taxation and social security

321,165

599,395

Other creditors

317,483

293,104

1,515,383

1,548,064

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

1,378,161

1,662,760

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Loans

949,993

1,050,883

The bank overdraft and loans are secured by a fixed and floating charge over the assets of the LLP.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £89,833 (2020 - £82,183) by Raffingers Probate Limited, a company with common members/directors.