Firleaze LLP OC379019 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is that of sales and marketing. Digita Accounts Production Advanced 6.30.9574.0 true OC379019 2021-04-01 2022-03-31 OC379019 2022-03-31 OC379019 core:CurrentFinancialInstruments 2022-03-31 OC379019 core:Non-currentFinancialInstruments 2022-03-31 OC379019 bus:SmallEntities 2021-04-01 2022-03-31 OC379019 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 OC379019 bus:AbridgedAccounts 2021-04-01 2022-03-31 OC379019 bus:RegisteredOffice 2021-04-01 2022-03-31 OC379019 bus:PartnerLLP1 2021-04-01 2022-03-31 OC379019 bus:PartnerLLP2 2021-04-01 2022-03-31 OC379019 bus:LimitedLiabilityPartnershipLLP 2021-04-01 2022-03-31 OC379019 core:Vehicles 2021-04-01 2022-03-31 OC379019 countries:AllCountries 2021-04-01 2022-03-31 OC379019 2021-03-31 OC379019 2020-04-01 2021-03-31 OC379019 2021-03-31 OC379019 core:CurrentFinancialInstruments 2021-03-31 OC379019 core:Non-currentFinancialInstruments 2021-03-31 iso4217:GBP xbrli:pure

Registration number: OC379019

Firleaze LLP

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2022

 

Firleaze LLP

Contents

Limited liability partnership information

1

Abridged Financial Statements

2 to 5

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

4

 

Firleaze LLP

Limited liability partnership information

Designated members

T S Coller

G M Galeozzie
 

Registered office

76 Parrys Lane
Stoke Bishop
Bristol
BS9 1AJ

Accountants

Foxmain Associates Limited
60 Stoke Lane
Westbury on Trym
Bristol
BS9 3SW

 

Firleaze LLP

(Registration number: OC379019)
Abridged Balance Sheet as at 31 March 2022

Note

2022
 £

2021
 £

Fixed assets

 

Tangible assets

3

9,805

13,939

Current assets

 

Stocks

71,376

81,205

Debtors

18,803

39,172

Cash and short-term deposits

 

16,654

23,036

 

106,833

143,413

Creditors: Amounts falling due within one year

(48,459)

(51,775)

Net current assets

 

58,374

91,638

Total assets less current liabilities

 

68,179

105,577

Creditors: Amounts falling due after more than one year

(31,667)

(39,583)

Net assets attributable to members

 

36,512

65,994

Represented by:

 

Members’ other interests

 

Capital accounts

 

36,512

65,994

   

36,512

65,994

Total members' interests

 

Amounts due from members

 

(3,209)

(3,209)

Members' other interests

 

36,512

65,994

   

33,303

62,785

For the year ending 31 March 2022 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

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

 

Firleaze LLP

(Registration number: OC379019)
Abridged Balance Sheet as at 31 March 2022 (continued)

All of the limited liability partnership's members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006, as applied to limited liability partnerships.

The financial statements of Firleaze LLP (registered number OC379019) were approved by the Board and authorised for issue on 8 September 2022. They were signed on behalf of the limited liability partnership by:


T S Coller
Designated member

 

Firleaze LLP

Notes to the Abridged Financial Statements for the Year Ended 31 March 2022

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Firleaze LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' particpation rights

Members' participation rights in the earning or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members are classified as liabilities and are presented in the Balance Sheet as 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

 

Firleaze LLP

Notes to the Abridged Financial Statements for the Year Ended 31 March 2022 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Motor vehicles

18% straight line on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2021 - 0).

3

Tangible fixed assets

Total
£

Cost

At 1 April 2021

16,999

Additions

21,830

Disposals

(26,872)

At 31 March 2022

11,957

Depreciation

At 1 April 2021

3,060

Charge for the year

2,152

Eliminated on disposals

(3,060)

At 31 March 2022

2,152

Net book value

At 31 March 2022

9,805

At 31 March 2021

13,939

4

Ultimate controlling party

The controlling party is T S Coller.