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Registration number: OC425277

Almero City Inc Crimscott LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Almero City Inc Crimscott LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Notes to the Financial Statements

4

 

Almero City Inc Crimscott LLP

Limited liability partnership information

Designated members

Almero Crimscott Limited

City Crimscott Limited
 

Registered office

Bath House
16 Bath Row
Stamford
Lincolnshire
PE92QU

Accountants

Hazlewoods LLP
Windsor House

Bayshill Road

Cheltenham
GL50 3AT

 

Almero City Inc Crimscott LLP

(Registration number: OC425277)
Balance Sheet as at 31 December 2022

Note

2022
 £

2021
 £

Fixed assets

 

Intangible assets

3

33,339

33,339

Investments

4

1

1

 

33,340

33,340

Current assets

 

Debtors

17,429,919

16,360,145

Cash and short-term deposits

 

16

-

 

17,429,935

16,360,145

Total assets less current liabilities

 

17,463,275

16,393,485

Creditors: Amounts falling due after more than one year

6

(826,710)

(544,682)

Net assets attributable to members

 

16,636,565

15,848,803

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

2,952,354

2,164,592

Members’ other interests

 

Members' capital classified as equity

 

13,684,211

13,684,211

   

16,636,565

15,848,803

Total members' interests

 

Loans and other debts due to members

 

2,952,354

2,164,592

Equity

 

13,684,211

13,684,211

   

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 Board and authorised for issue on 28 September 2023. They were signed on behalf of the limited liability partnership by:

 

Almero City Inc Crimscott LLP

(Registration number: OC425277)
Balance Sheet as at 31 December 2022 (continued)

.........................................
Almero Crimscott Limited
Designated member

 

Almero City Inc Crimscott LLP

Notes to the Financial Statements for the Year Ended 31 December 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 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)

1

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.

2

Particulars of employees

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

 

Almero City Inc Crimscott LLP

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

3

Intangible fixed assets

Total
£

Cost

At 1 January 2022

33,339

At 31 December 2022

33,339

4

Investments held as fixed assets

2022
 £

2021
 £

Shares in group undertakings

1

1

Investments held in ALmero City Inc Crimscott LLP are comprised of shareholdings in Almero Crimscott II Limited.

5

Debtors

2022
 £

2021
 £

Other debtors

17,429,919

16,360,145

Total current trade and other debtors

17,429,919

16,360,145

6

Creditors: Amounts falling due after more than one year

2022
 £

2021
 £

Trade creditors

300

9,600

Other creditors

826,410

535,082

826,710

544,682