REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Channel Creator LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Channel Creator LLP |
Channel Creator LLP (Registered number: OC371122) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Channel Creator LLP |
General Information |
for the Year Ended 31 December 2022 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
27 Old Gloucester Street |
London |
WC1N 3AX |
Channel Creator LLP (Registered number: OC371122) |
Report of the Members |
for the Year Ended 31 December 2022 |
The members present their report with the financial statements of the LLP for the year ended 31 December 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of software sales representative. |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £293,567 (2021 - £279,436 profit). |
MEMBERS' INTERESTS |
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP. |
There were no changes in members' capital in the year ended 31 December 2022. |
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Before the division of the profits and losses of the LLP for any Financial Year, retainers already paid to the Members shall be taken into account. If any profits remain after the payment of the Retainers in full then they shall be allocated equally across the members. |
Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares quarterly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business. |
NON-DESIGNATED MEMBERS |
E Moubayed |
B Marbach |
Channel Creator Services Limited |
ON BEHALF OF THE MEMBERS: |
Channel Creator LLP (Registered number: OC371122) |
Income Statement |
for the Year Ended 31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
Channel Creator LLP (Registered number: OC371122) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
48,484 |
68,343 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
48,484 |
68,343 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 48,484 | 68,343 |
Amounts due from members | 7 | (781 | ) | - |
47,703 | 68,343 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
Channel Creator LLP (Registered number: OC371122) |
Balance Sheet - continued |
31 December 2022 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Channel Creator LLP (Registered number: OC371122) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | Statutory information |
Channel Creator LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other |
short-term highly liquid investments with original maturities of three months or less and |
bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in |
current liabilities. |
Debtors |
Trade and other receivables are initially recognised at transaction price less any subsequent impairment. |
Creditors |
Trade and other payables are recognised at the transaction price of the goods or services that were received. |
3. | Employee information |
The average number of employees during the year was NIL (2021 - NIL). |
4. | Operating profit |
The operating profit is stated after charging: |
31.12.22 | 31.12.21 |
£ | £ |
Depreciation - owned assets |
Channel Creator LLP (Registered number: OC371122) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | Fixed asset investments |
Other |
investment |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
7. | Debtors: amounts falling due within one year |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Other debtors |
Channel Creator LLP (Registered number: OC371122) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | Creditors: amounts falling due within one year |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | Loans and other debts due to members |
Loans and other debts due to members' are due within 1 year of the date of the financial statements, ranking in priority behind creditors that are also due to be paid in this period. |
10. | Post balance sheet events |
After the balance sheet date but before the date of this report, the partnership invested an advance subscription in AAZZUR Limited of £4,320. |
11. | Ultimate controlling party |
P J Brother and M A Ball share the ultimate control of the partnership. |