Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false02020-09-08Advisory4truetrue OC433270 2020-09-07 OC433270 2020-09-08 2021-12-31 OC433270 2019-09-08 2020-09-07 OC433270 2021-12-31 OC433270 c:CurrentFinancialInstruments 2021-12-31 OC433270 c:CurrentFinancialInstruments 2 2021-12-31 OC433270 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 OC433270 e:FRS102 2020-09-08 2021-12-31 OC433270 e:AuditExempt-NoAccountantsReport 2020-09-08 2021-12-31 OC433270 e:FullAccounts 2020-09-08 2021-12-31 OC433270 e:LimitedLiabilityPartnershipLLP 2020-09-08 2021-12-31 OC433270 e:PartnerLLP1 2020-09-08 2021-12-31 OC433270 c:OtherCapitalInstrumentsClassifiedAsEquity 2021-12-31 OC433270 c:FurtherSpecificReserve2ComponentTotalEquity 2021-12-31 iso4217:GBP xbrli:pure
Registered number: OC433270



ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP








UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021












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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
REGISTERED NUMBER: OC433270

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
956,568

  
956,568

Creditors: Amounts Falling Due Within One Year
 5 
(7,472)

Net current assets
  
 
 
949,096

Total assets less current liabilities
  
949,096

  

Net assets
  
949,096


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
59,690

Other reserves classified as equity
  
889,406

  
 
949,096

  
949,096


Total members' interests
  

Amounts due from members (included in debtors)
 4 
(534,095)

Members' other interests
  
949,096

  
415,001


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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
REGISTERED NUMBER: OC433270
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

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

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
M I Beeston
Designated member

Date: 7 September 2022

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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 DECEMBER 2021







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

At Incorporation
-
-
-
-
-
-

Other division of profits
-
-
-
32,254
32,254
32,254

Movement in reserves
-
889,406
889,406
-
-
889,406

Amounts introduced by members
 
59,690
-
59,690
(566,349)
(566,349)
(506,659)

Amounts due from members
 



(534,095)
(534,095)


Balance at 31 December 2021 
59,690
889,406
949,096
(534,095)
(534,095)
415,001

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

The entity is a limited liability partnership, incorporated in England and Wales. 
The registered office of the LLP is: 404 The Frames Phipp Street, London, United Kingdom, EC2A 4PS.  
The principal activity of the LLP in the year under review is that of private equity investment advisory services. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the value, net of value added tax and discounts, of investment advisory services provided. Revenue is recognised as and when the services are provided.

  
2.3

Members' capital

Members' capital is classified as equity as the partnership has an unconditional right to refuse repayment of capital.

  
2.4

Members' drawings

In accordance with the LLP Members' Agreement, each memeber is entitled to a monthly drawing as determined by the remuneration committee from time to time. For accounting purposes members drawings are classified as members' remuneration and are charged as an expense through the profit and loss account. Per the terms of the LLP agreement, allocated profits and therefore members remuneration cannot exceed the reported result for the period. Drawings in excess of allocated profits have been recognised as a debtor at the year-end.

 
2.5

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the Members' Agreement.

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 FRS 25 Financial instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.



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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

  
2.6

Loans and other debts due to Members

In the event of winding up, loans and other debts due to members will rank equally with unsecured creditors.

 
2.7

Financial instruments

The partnership only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.


3.


Employees

The average monthly number of employees, including directors, during the period was 4.

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ILLUMINATE FINANCIAL MANAGEMENT ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

4.


Debtors

2021
£


Other debtors
422,473

Amounts due from members
534,095

956,568



5.


Creditors: Amounts falling due within one year

2021
£

Trade creditors
3,972

Accruals and deferred income
3,500

7,472



6.


Related party transactions

On 26 January 2021, an advisory business was transferred for no consideration in to the LLP from another LLP under common control. The transfer included cash balances, members capital accounts and debts due from members and a contract for services.


7.


Controlling party

The ultimate controlling party is M I Beeston.

 
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