REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 5 April 2022 |
for |
CRE8 STRUCTURES LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 5 April 2022 |
for |
CRE8 STRUCTURES LLP |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Contents of the Financial Statements |
for the Year Ended 5 April 2022 |
Page |
Report of the Members | 1 |
Accountants' Report | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Report of the Members |
for the Year Ended 5 April 2022 |
The members present their report with the financial statements of the LLP for the year ended 5 April 2022. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £223,158 (2021 - £230,305 profit). |
MEMBERS' INTERESTS |
MEMBERS' RESPONSIBILITIES STATEMENT |
The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. |
Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to: |
• select suitable accounting policies and then apply them consistently; |
• make judgements and accounting estimates that are reasonable and prudent; |
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business. |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
ON BEHALF OF THE MEMBERS: |
Accountants' Report to the Members |
on the Unaudited Financial Statements of |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of CRE8 STRUCTURES LLP for the year ended 5 April 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of CRE8 STRUCTURES LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CRE8 STRUCTURES LLP and state those matters that we have agreed to state to the members of CRE8 STRUCTURES LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CRE8 STRUCTURES LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that CRE8 STRUCTURES LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CRE8 STRUCTURES LLP. You consider that CRE8 STRUCTURES LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of CRE8 STRUCTURES LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bourbon Court |
Nightingales Corner |
Little Chalfont |
Amersham |
Buckinghamshire |
HP7 9QS |
Date: ............................................. |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Income Statement |
for the Year Ended 5 April 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
187,550 | 201,117 |
Income from government grants | 3 |
OPERATING PROFIT | 5 |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
223,158 |
230,305 |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
223,158 |
230,305 |
Members' remuneration charged as an expense | 6 | (223,158 | ) | (230,305 | ) |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Balance Sheet |
5 April 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
102,193 |
32,268 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
11 |
92,193 |
22,268 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 10,000 | 10,000 |
102,193 | 32,268 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 92,193 | 22,268 |
Members' other interests | 10,000 | 10,000 |
102,193 | 32,268 |
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. |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Balance Sheet - continued |
5 April 2022 |
The financial statements were approved by the members of the LLP and authorised for issue on |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Notes to the Financial Statements |
for the Year Ended 5 April 2022 |
1. | STATUTORY INFORMATION |
CRE8 STRUCTURES LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention. The principal |
accounting policies adopted are set out below. |
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Computers 33.3% straight line |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
2. | ACCOUNTING POLICIES - continued |
MEMBERS' PARTICIPATING INTERESTS |
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits). |
Members' participation rights in the earnings or assets of the LLP are analysed between those that are,from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity. |
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests. |
Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net. |
3. | INCOME FROM GOVERNMENT GRANTS |
2022 | 2021 |
£ | £ |
Grant for BBL Interest |
JRS Government grant |
36,799 | 30,126 |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
6. | INFORMATION IN RELATION TO MEMBERS |
2022 | 2021 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of profit | 223,158 | 230,305 |
2022 | 2021 |
CRE8 STRUCTURES LLP (Registered number: OC400406) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
The average number of members during the year was | 2 | 2 |
. |
7. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 6 April 2021 |
and 5 April 2022 |
DEPRECIATION |
At 6 April 2021 |
and 5 April 2022 |
NET BOOK VALUE |
At 5 April 2022 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |