Registration number:
Almero City Inc Crimscott LLP
for the Year Ended 31 December 2022
Almero City Inc Crimscott LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Almero City Inc Crimscott LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Almero City Inc Crimscott LLP
(Registration number: OC425277)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Intangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
2,952,354 |
2,164,592 |
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Members’ other interests |
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Members' capital classified as equity |
13,684,211 |
13,684,211 |
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16,636,565 |
15,848,803 |
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Total members' interests |
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Loans and other debts due to members |
2,952,354 |
2,164,592 |
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Equity |
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16,636,565 |
15,848,803 |
For the year ending 31 December 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.
The financial statements of Almero City Inc Crimscott LLP (registered number OC425277) were approved by the
Almero City Inc Crimscott LLP
(Registration number: OC425277)
Balance Sheet as at 31 December 2022 (continued)
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Almero City Inc Crimscott LLP
Notes to the Financial Statements for the Year Ended 31 December 2022
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 financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
These 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 Almero City Inc Crimscott 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.
Judgements
In the application of the LLP's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Members' remuneration and division of profits
The profits of the LLP are automatically divided among the members in accordance with the agreed profit share
arrangements.
A member's share of the profit or loss for the year is accounted for as an allocation of profits.
Taxation
The taxation payable on the LLP's profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of its members. Consequently, neither LLP taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Intangible assets
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill wen they arise from contractual or other legal rights, are separable , the expected future economic benefits are probable and the cost or value can be measured reliably.
Almero City Inc Crimscott LLP
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
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Accounting policies (continued) |
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the LLP is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and Measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment of financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Almero City Inc Crimscott LLP
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
Intangible fixed assets |
Total |
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Cost |
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At 1 January 2022 |
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At 31 December 2022 |
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Investments held as fixed assets |
2022 |
2021 |
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Shares in group undertakings |
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Investments held in ALmero City Inc Crimscott LLP are comprised of shareholdings in Almero Crimscott II Limited.
Debtors |
2022 |
2021 |
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Other debtors |
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Total current trade and other debtors |
17,429,919 |
16,360,145 |
Creditors: Amounts falling due after more than one year |
2022 |
2021 |
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Trade creditors |
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Other creditors |
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