Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity22022-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2falsetruefalse OC420624 2022-04-01 2023-03-31 OC420624 2021-04-01 2022-03-31 OC420624 2023-03-31 OC420624 2022-03-31 OC420624 c:CurrentFinancialInstruments 2023-03-31 OC420624 c:CurrentFinancialInstruments 2022-03-31 OC420624 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC420624 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC420624 d:FRS102 2022-04-01 2023-03-31 OC420624 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC420624 d:FullAccounts 2022-04-01 2023-03-31 OC420624 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC420624 2 2022-04-01 2023-03-31 OC420624 d:PartnerLLP1 2022-04-01 2023-03-31 OC420624 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC420624 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC420624














VERBAL MEDIA LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED  31 MARCH 2023

 
VERBAL MEDIA LLP
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4


 
VERBAL MEDIA LLP
REGISTERED NUMBER:OC420624

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
3,681
6,921

Cash at bank and in hand
  
463
358

  
4,144
7,279

Current Liabilities
  

Creditors: Amounts Falling Due Within One Year
 5 
(4,460)
(5,031)

Net current (liabilities)/assets
  
 
 
(316)
 
 
2,248

Total assets less current liabilities
  
(316)
2,248

  

Net (liabilities)/assets
  
(316)
2,248


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
(316)
2,248

  
(316)
2,248

  

  
(316)
2,248


Total members' interests
  

Loans and other debts due to members
 6 
(316)
2,248

  
(316)
2,248


Page 1

 
VERBAL MEDIA LLP
REGISTERED NUMBER:OC420624
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 on 27 September 2023.




Simon Mason
Designated member

The notes on pages 3 to 4 form part of these financial statements.

Verbal Media LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 
VERBAL MEDIA LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Verbal Media LLP is a limited laibility partnership registered in England and Wales with its registed office at 81 Mercers road, London, N19 4PS.

The LLP's functional and presentation currency is £ sterling.

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

Turnover

Turnover comprises revenue recognised by the LLP in respect of media, marketing and consultancy services supplied during the year, exclusive of value added tax. 

Revenue is recognised when all contractual obligations have been met and in the period in which it relates to.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

 
2.5

Basic financial instruments

The LLP only enters into transactions which result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand.
Trade and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors.
Cash and cash equivalents comprise cash balances and call deposits.

Page 3

 
VERBAL MEDIA LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
3,480
6,720

Prepayments and accrued income
201
201

3,681
6,921



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
1,710
2,281

Accruals and deferred income
2,750
2,750

4,460
5,031



6.


Loans and other debts due (to)/from members


2023
2022
£
£



Other amounts due to members
(316)
2,248

(316)
2,248

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
(316)
2,248

(316)
2,248

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 4