Registered number
OC413653
Redmere Group LLP
Filleted Accounts
5 April 2023
Redmere Group LLP
Registered number: OC413653
Balance Sheet
as at 5 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,826 26,312
Investments 4 770,440 686,083
791,266 712,395
Current assets
Debtors 5 1,496 1,598
Cash at bank and in hand 296 4,827
1,792 6,425
Creditors: amounts falling due within one year 6 (930) (870)
Net current assets 862 5,555
Total assets less current liabilities 792,128 717,950
Net assets attributable to members 792,128 717,950
Represented by:
Loans and other debts due to members 7 792,128 717,950
792,128 717,950
Total members' interests
Loans and other debts due to members 7 792,128 717,950
792,128 717,950
For the year ended 5 April 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 11 October 2023 and signed on their behalf by:
Adam Mairs
Designated member
Redmere Group LLP
Notes to the Accounts
for the year ended 5 April 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.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 6 April 2022 4,085 29,990 34,075
Additions 198 - 198
At 5 April 2023 4,283 29,990 34,273
Depreciation
At 6 April 2022 1,765 5,998 7,763
Charge for the year 886 4,798 5,684
At 5 April 2023 2,651 10,796 13,447
Net book value
At 5 April 2023 1,632 19,194 20,826
At 5 April 2022 2,320 23,992 26,312
4 Fixed asset investments
Other
investments
£
Cost
At 6 April 2022 686,083
Additions 84,357
At 5 April 2023 770,440
5 Debtors 2023 2022
£ £
Trade debtors 180 600
Other debtors 1,316 998
1,496 1,598
6 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 930 870
7 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt 596,701 596,701
Loans from members 80,950 47,127
Amounts due to members in respect of profits 114,477 74,122
792,128 717,950
Amounts falling due within one year 195,427 121,249
Amounts falling due after more than one year 596,701 596,701
792,128 717,950
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Controlling party
The ultimate controlling party is Mr Adam Mairs.
9 Other information
Redmere Group LLP is a limited liability partnership incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
Redmere Group LLP OC413653 false 2022-04-06 2023-04-05 2023-04-05 VT Final Accounts October 2023 Adam Mairs No description of principal activity OC413653 2021-04-06 2022-04-05 OC413653 core:WithinOneYear 2022-04-05 OC413653 1 2022-04-05 OC413653 2022-04-06 2023-04-05 OC413653 bus:LimitedLiabilityPartnershipLLP 2022-04-06 2023-04-05 OC413653 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 OC413653 bus:PartnerLLP20 2022-04-06 2023-04-05 OC413653 3 2022-04-06 2023-04-05 OC413653 2 2022-04-06 2023-04-05 OC413653 4 2022-04-06 2023-04-05 OC413653 core:PlantMachinery 2022-04-06 2023-04-05 OC413653 core:Vehicles 2022-04-06 2023-04-05 OC413653 countries:England 2022-04-06 2023-04-05 OC413653 bus:FRS102 2022-04-06 2023-04-05 OC413653 bus:FullAccounts 2022-04-06 2023-04-05 OC413653 2023-04-05 OC413653 core:WithinOneYear 2023-04-05 OC413653 1 2023-04-05 OC413653 core:PlantMachinery 2023-04-05 OC413653 core:Vehicles 2023-04-05 OC413653 core:AdditionsToInvestments 2023-04-05 OC413653 2022-04-05 OC413653 core:PlantMachinery 2022-04-05 OC413653 core:Vehicles 2022-04-05 iso4217:GBP xbrli:pure