Fastcolours LLP OC385852 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is specialising in the supply of dyes in small lots. Digita Accounts Production Advanced 6.30.9574.0 true OC385852 2022-04-01 2023-03-31 OC385852 2023-03-31 OC385852 core:CurrentFinancialInstruments 2023-03-31 OC385852 core:Non-currentFinancialInstruments 2023-03-31 OC385852 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 OC385852 core:WithinOneYear 2023-03-31 OC385852 bus:SmallEntities 2022-04-01 2023-03-31 OC385852 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC385852 bus:FullAccounts 2022-04-01 2023-03-31 OC385852 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC385852 bus:PartnerLLP1 2022-04-01 2023-03-31 OC385852 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC385852 countries:AllCountries 2022-04-01 2023-03-31 OC385852 2021-04-01 2022-03-31 OC385852 2022-03-31 OC385852 core:CurrentFinancialInstruments 2022-03-31 OC385852 core:Non-currentFinancialInstruments 2022-03-31 OC385852 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 OC385852 core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: OC385852

Fastcolours LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Fastcolours LLP

Contents

Financial Statements

1 to 3

Balance Sheet

1

Notes to the Financial Statements

2

 

Fastcolours LLP

(Registration number: OC385852)
Balance Sheet as at 31 March 2023

Note

2023
 £

2022
 £

Current assets

 

Stocks

165,500

166,160

Debtors

30,987

24,249

Cash and short-term deposits

 

55,570

86,916

 

252,057

277,325

Creditors: Amounts falling due within one year

4

(135,482)

(150,750)

Total assets less current liabilities

 

116,575

126,575

Creditors: Amounts falling due after more than one year

5

(32,500)

(42,500)

Net assets attributable to members

 

84,075

84,075

Total members' interests

 

Equity

 

84,075

84,075

   

84,075

84,075

For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Fastcolours LLP (registered number OC385852) were approved by the Board and authorised for issue on 5 October 2023. They were signed on behalf of the limited liability partnership by:

.........................................
W Lee
Designated member

 

Fastcolours LLP

Notes to the Financial Statements for the Year Ended 31 March 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 7 (2022 - 7).

 

Fastcolours LLP

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

3

Debtors

2023
 £

2022
 £

Trade debtors

30,554

23,538

Prepayments and accrued income

433

711

Total current trade and other debtors

30,987

24,249

4

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Bank loans and overdrafts

74

91

Trade creditors

80,142

108,195

Other creditors

32,860

22,630

Accruals and deferred income

10,930

9,048

Taxation and social security

11,476

10,786

135,482

150,750

5

Creditors: Amounts falling due after more than one year

2023
 £

2022
 £

Bank loans and overdrafts

32,500

42,500