SIREN CLUB COMMUNITY LLP |
|
Chartered Accountants' report to the members on the preparation of the unaudited statutory accounts of SIREN CLUB COMMUNITY LLP for the period ended 31 May 2023 |
In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by the LLP regulations), we have prepared for your approval the accounts of SIREN CLUB COMMUNITY LLP for the period ended 31 May 2023 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Members' Interests and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance |
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF. |
|
Key Business Consultants LLP |
Chartered Accountants |
Unit 5 Drakes Courtyard |
291 Kilburn High Road |
London |
NW6 7JR |
|
9 August 2023 |
|
SIREN CLUB COMMUNITY LLP |
Registered number: |
OC443603 |
Balance Sheet |
as at 31 May 2023 |
Notes |
|
2023 |
|
£ |
|
Current assets |
|
|
|
|
Cash at bank and in hand |
|
|
3,002 |
|
Creditors: amounts falling due within one year |
3 |
|
(480) |
|
Net current assets |
|
|
2,522 |
|
|
|
|
|
|
Total assets less current liabilities |
|
|
2,522 |
|
|
|
Net assets attributable to members |
2,522 |
|
|
|
|
|
|
Represented by: |
|
|
|
|
|
Members' other interests |
Members' capital classified as equity |
|
|
3,443 |
Other reserves |
|
|
(921) |
|
|
|
2,522 |
|
|
|
|
|
|
|
|
|
2,522 |
|
|
|
|
|
|
Total members' interests |
Members' other interests |
|
|
2,522 |
|
|
|
|
2,522 |
|
|
|
|
|
|
For the period ended 31 May 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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. |
The 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. |
|
These accounts were approved by the members on 9 August 2023 and signed on their behalf by: |
|
|
Ms B Mckeever |
Designated member |
|
SIREN CLUB COMMUNITY LLP |
Notes to the Accounts |
for the period from 23 August 2022 to 31 May 2023 |
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
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. These accounts were prepared under the going concern convention due to the partners' continued financial support. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Division of profits |
|
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account. |
|
|
Taxation |
|
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. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
1 |
Accounting policies (cont.) |
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
2 |
Employees |
2023 |
|
Number |
|
|
|
Average number of persons employed by the LLP |
3 |
|
|
|
|
|
|
|
|
|
3 |
Creditors: amounts falling due within one year |
2023 |
|
£ |
|
|
|
Trade creditors |
480 |
|
|
|
|
|
|
|
|
|
4 |
Related party transactions |
|
|
At the period end, the partnership owed Ms S Jordaan £761, Ms D Smit £1,221 and Ms B Mckeever £540. |
|
|
5 |
Controlling party |
|
|
The ultimate controlling parties throughout the period were the partners equally. |
|
|
6 |
Other information |
|
|
SIREN CLUB COMMUNITY LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
Unit 5 Drakes Courtyard |
|
291 Kilburn High Road |
|
London |
|
NW6 7JR |