Registered number
OC371362
FBBIZ LLP
Filleted Accounts
31 March 2023
FBBIZ LLP
Registered number: OC371362
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 3,912 68,286
Cash at bank and in hand 716 730
4,628 69,016
Creditors: amounts falling due within one year 4 (270) (23,466)
Net current assets 4,358 45,550
Total assets less current liabilities 4,358 45,550
Net assets attributable to members 4,358 45,550
Represented by:
Loans and other debts due to members 5 4,358 42,807
Members' other interests
Other reserves - 2,743
4,358 45,550
Total members' interests
Loans and other debts due to members 5 4,358 42,807
Members' other interests - 2,743
4,358 45,550
For the year ended 31 March 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 25 July 2023 and signed on their behalf by:
P Woodcock
Designated member
FBBIZ LLP
Notes to the Accounts
for the year ended 31 March 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.
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.
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 1 1
3 Debtors 2023 2022
£ £
1st Recruitment & Training Ltd - 28,000
Other debtors 3,912 40,286
3,912 68,286
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5 71
Trade creditors - (2,094)
Other creditors 265 25,489
270 23,466
5 Loans and other debts due to members 2023 2022
£ £
Loans from members 42,325 35,339
Amounts due to members in respect of profits (37,967) 7,468
4,358 42,807
Amounts falling due within one year 4,358 42,807
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Controlling party
The LLP is under the control of P Woodcock
7 Other information
FBBIZ LLP is a limited liability partnership incorporated in England. Its registered office is:
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