Registered Number:OC359771 |
For the year ended 30 November 2022
England and Wales
Report of the Members and Unaudited Financial Statements
For the year ended 30 November 2022
REAM PARTNERSHIP LLP
Contents Page
1 to 2
Statement of Financial Position
3 to 5
Notes to the Financial Statements
REAM PARTNERSHIP LLP
Statement of Financial Position
2021
2022
Property, plant and equipment |
168,680
167,884
2
168,680
167,884
Trade and other receivables |
533,441
132,232
3
(10,483)
(6,965)
Cash and cash equivalents |
121,749
526,476
Trade and other payables: amounts falling due within one |
year |
(1,072,022)
(528,642)
4
(545,546)
(406,893)
Net current liabilities
Total assets less current liabilities |
(238,213)
(377,662)
Trade and other payables: amounts falling due after more |
than one year |
(35,563)
(24,915)
5
(263,128)
Net liabilities attributable to members
(413,225)
Loans and other debts due to members |
549,372
549,372
6
32,362
32,362
298,956
-
189,194
110,053
520,512
142,415
1,069,884
691,787
(1,333,012)
(1,105,012)
Loans and other debts due to members |
549,372
549,372
6
520,512
142,415
(263,128)
(413,225)
For the year ended 30 November 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs. |
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 affair of the LLP as at the end of each |
financial year and of its profit or loss for each 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 |
Liabilities Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to the |
financial statements, so far as applicable to the LLP |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
1 of 5
For the year ended 30 November 2022
REAM PARTNERSHIP LLP
Statement of Financial Position Continued
The financial statements are prepared in accordance with the provisions applicable to LLP's subject to the small LLP's regime. |
Mr Gregory Alan PageDesignated Member |
These financial statements were approved by the members on 18 October 2023 and signed on their behalf by:
2 of 5
For the year ended 30 November 2022
REAM PARTNERSHIP LLP
Notes to the Financial Statements
Statutory Information
REAM PARTNERSHIP LLP is a limited liability partnership, domiciled in England and Wales, registration number |
OC359771. |
Principal place of business: |
Tallis House
2 Tallis Street
London
EC4Y 0AB
Suite 205
Balfour House
741 High Road
London
N12 0BP
The presentation currency is £ sterling. |
Basis of preparation
The report and financial statements for the year ended 30 November 2022 have been prepared under the historical |
cost convention and in accordance with the Section 1A of Financial Reporting Standard 102 'The Financial Reporting |
Standard applicable in the UK and Republic of Ireland' and the Statement of Recommended Practice "Accounting by |
Limited Liability Partnerships". |
The financial statements have been prepared on the going concern basis which is dependent on the continued |
financial support from the |
company's directors and other creditors and on the ability of the company to continue trading. Should the directors |
and other creditors |
withdraw thier support and the company be unable to continue trading, adjustments would have to be made to |
reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and |
re-clasiffy fixed assets as current assets. |
Turnover
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. |
Taxation
Taxation on all the LLP's profits is solely the personal liability of individual members and is not dealt with in these |
financial statements. |
Depreciation of tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Motor vehicles
Fixtures and fittings
3 of 5
For the year ended 30 November 2022
REAM PARTNERSHIP LLP
Notes to the Financial Statements Continued
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the members compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. |
Leasing and hire purchase commitments
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling on the date of the transaction. Exchange differences are dealt with in the profit and loss account. |
2. Property, plant and equipment |
Motor vehicles
369,887
105,489
112,000
152,398
4,670
-
4,670
-
152,398
116,670
105,489
374,557
Provision for depreciation and impairment |
202,003
95,490
106,513
-
Charge for year
3,874
2,502
1,372
-
205,877
97,992
107,885
-
152,398
8,785
7,497
168,680
152,398
5,487
9,999
167,884
3. Trade and other receivables |
2022
2021
132,232
533,441
132,232
533,441
4 of 5
For the year ended 30 November 2022
REAM PARTNERSHIP LLP
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year |
2021
2022
77,450
77,450
Bank loans and overdrafts (secured)
10,000
10,000
-
30,202
378,718
867,854
Taxation and social security |
12,272
96,718
20,000
20,000
528,642
1,072,022
5. Trade and other payables: amounts falling due after more than one year |
2022
2021
35,563
24,915
6. Loans and other debts due to members |
2021
2022
549,372
549,372
549,372
549,372
7. Average number of persons employed |
During the year the average number of employees was 7 (2021 : 7)
5 of 5