Limited Liability Partnership registration number OC425494 (England and Wales)
RLS CREATIVE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
RLS CREATIVE LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr R Shore
Mrs L Shore
LLP registration number
OC425494
Registered office
North End
Cream Pot Lane
Cropredy
Banbury
Oxfordshire
OX17 1NT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
8 Canada Square
Canary Wharf
London
E14 5HQ
RLS CREATIVE LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
RLS CREATIVE LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RLS CREATIVE LLP FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RLS Creative LLP for the year ended 31 March 2023 which comprise, the balance sheet and the related notes from the limited liability partnership’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 https://www.icaew.com/regulation

This report is made solely to the limited liability partnership's members of RLS Creative LLP, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RLS Creative LLP and state those matters that we have agreed to state to the limited liability partnership's members of RLS Creative LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RLS Creative LLP and its members as a body, for our work or for this report.

It is your duty to ensure that RLS Creative 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 profit of RLS Creative LLP. You consider that RLS Creative 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 RLS Creative 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.

Ormerod Rutter Limited
4 September 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
RLS CREATIVE LLP
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
661
45
Current assets
Debtors
4
2,550
604
Cash at bank and in hand
3,886
2,544
6,436
3,148
Creditors: amounts falling due within one year
5
(972)
(900)
Net current assets
5,464
2,248
Total assets less current liabilities and net assets attributable to members
6,125
2,293
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
6,125
2,293

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships' regime.

The financial statements were approved by the members and authorised for issue on 4 September 2023 and are signed on their behalf by:
04 September 2023
Mr R Shore
Designated member
Limited Liability Partnership Registration No. OC425494
RLS CREATIVE LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Limited liability partnership information

RLS Creative LLP is a limited liability partnership incorporated in England and Wales. The registered office is North End, Cream Pot Lane, Cropredy, Banbury, Oxfordshire, OX17 1NT.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
1.4
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0 (2022 - 0).

RLS CREATIVE LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2022
-
248
248
Additions
827
-
827
At 31 March 2023
827
248
1,075
Depreciation and impairment
At 1 April 2022
-
203
203
Depreciation charged in the year
166
45
211
At 31 March 2023
166
248
414
Carrying amount
At 31 March 2023
661
-
661
At 31 March 2022
-
45
45
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,550
550
Other debtors
-
54
2,550
604
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
972
900
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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