Registered No. OC434247 (England and Wales)
We Are Family Europe LLP
Unaudited accounts
for the year ended 31 March 2023
We Are Family Europe LLP
LLP Information
for the year ended 31 March 2023
Designated members
We Are Family Global Ventures S.C.S
Mr Maurice Richard Wheeler
Registered Number
OC434247 (England and Wales)
Registered Office
Holly Bank
Grove Lane
Chalfont St Peter
Buckinghamshire
SL9 9JD
Accountants
Baker Accountancy Services
Windmill Farm Business Hub
Bowstridge Lane
Chalfont St. Giles
Bucks
HP8 4RG
Chartered Accountants' report to the members on the preparation of the unaudited statutory financial statements of We Are Family Europe LLP for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of
We Are Family Europe LLP for the year ended
31 March 2023 as set out on pages
4 -
6 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 at icaew.com/membershandbook.
This report is made solely to the members of We Are Family Europe LLP, as a body, in accordance with the terms of our engagement letter dated 26 January 2022. Our work has been undertaken solely to prepare for your approval the financial statements of We Are Family Europe LLP and state those matters that we have agreed to state to the members of We Are Family Europe LLP, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than We Are Family Europe LLP and its members as a body for our work or for this report.
It is your duty to ensure that We Are Family Europe 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 loss of We Are Family Europe LLP. You consider that We Are Family Europe 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 We Are Family Europe 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.
Baker Accountancy Services
Chartered Accountants
Windmill Farm Business Hub
Bowstridge Lane
Chalfont St. Giles
Bucks
HP8 4RG
19 September 2023
We Are Family Europe LLP
Statement of financial position
as at 31 March 2023
Tangible assets
6,933
6,505
Cash at bank and in hand
139,169
183,313
Creditors: amounts falling due within one year
(256,301)
(202,595)
Net current assets
95,521
50,982
Net assets attributable to members
102,454
57,487
Other reserves
102,454
57,487
Members' other interests
102,454
57,487
For the year ending 31 March 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 19 September 2023.
Mr Maurice Richard Wheeler
Designated member
Limited Liability Partnership Registration No. OC434247
We Are Family Europe LLP
Notes to the Accounts
for the year ended 31 March 2023
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
We Are Family Europe LLP is a limited liability partnership, incorporated in England and Wales, registration number OC434247. Its registered office is Holly Bank, Grove Lane, Chalfont St Peter, Buckinghamshire, SL9 9JD.
We Are Family Europe LLP
Notes to the Accounts
for the year ended 31 March 2023
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,572
5,627
7,199
At 31 March 2023
3,775
5,965
9,740
At 1 April 2022
33
661
694
Charge for the year
664
1,449
2,113
At 31 March 2023
697
2,110
2,807
At 31 March 2023
3,078
3,855
6,933
At 31 March 2022
1,539
4,966
6,505
4
Creditors: amounts falling due within one year
2023
2022
Trade creditors
75,312
21,014
Taxes and social security costs
21,708
36,102
Other creditors
1,627
3,047
Deferred income
105,759
78,355
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 5 (2022: 4).