Registered number
OC377836
Commodious LLP
Filleted Accounts
5 April 2023
Commodious LLP
Registered number: OC377836
Balance Sheet
as at 5 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 59 -
Current assets
Debtors 4 79,860 65,223
Cash at bank and in hand 57,682 25,118
137,542 90,341
Creditors: amounts falling due within one year 5 (84,028) (51,830)
Net current assets 53,514 38,511
Total assets less current liabilities 53,573 38,511
Net assets attributable to members 53,573 38,511
Represented by:
Loans and other debts due to members 6 (560,332) (472,669)
Members' other interests
Members' capital classified as equity 10,001 10,001
Other reserves 603,904 501,179
613,905 511,180
53,573 38,511
Total members' interests
Loans and other debts due to members 6 (560,332) (472,669)
Members' other interests 613,905 511,180
53,573 38,511
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 3 November 2023 and signed on their behalf by:
M Heywood
Designated member
Commodious 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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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
£
Cost
Additions 59
At 5 April 2023 59
Depreciation
At 5 April 2023 -
Net book value
At 5 April 2023 59
4 Debtors 2023 2022
£ £
Trade debtors 23,839 9,202
Other debtors 56,021 56,021
79,860 65,223
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 35,947 29,785
Other taxes and social security costs 37,948 22,046
Other creditors 10,133 (1)
84,028 51,830
6 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits (560,332) (472,669)
Amounts falling due within one year (560,332) (472,669)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Commodious LLP is a limited liability partnership incorporated in England. Its registered office is:
Gateshead International Business Centre
Mulgrave Terrace
Gateshead
Tyne & Wear
NE8 1AN
Commodious LLP OC377836 false 2022-04-06 2023-04-05 2023-04-05 VT Final Accounts October 2023 release 2 M Heywood No description of principal activity OC377836 2021-04-06 2022-04-05 OC377836 core:WithinOneYear 2022-04-05 OC377836 1 2022-04-05 OC377836 core:ShareCapital 2022-04-05 OC377836 core:RetainedEarningsAccumulatedLosses 2022-04-05 OC377836 2022-04-06 2023-04-05 OC377836 bus:LimitedLiabilityPartnershipLLP 2022-04-06 2023-04-05 OC377836 bus:AuditExempt-NoAccountantsReport 2022-04-06 2023-04-05 OC377836 bus:PartnerLLP20 2022-04-06 2023-04-05 OC377836 3 2022-04-06 2023-04-05 OC377836 1 2022-04-06 2023-04-05 OC377836 2 2022-04-06 2023-04-05 OC377836 4 2022-04-06 2023-04-05 OC377836 core:PlantMachinery 2022-04-06 2023-04-05 OC377836 countries:England 2022-04-06 2023-04-05 OC377836 bus:FRS102 2022-04-06 2023-04-05 OC377836 bus:FullAccounts 2022-04-06 2023-04-05 OC377836 2023-04-05 OC377836 core:WithinOneYear 2023-04-05 OC377836 1 2023-04-05 OC377836 core:ShareCapital 2023-04-05 OC377836 core:RetainedEarningsAccumulatedLosses 2023-04-05 OC377836 core:PlantMachinery 2023-04-05 OC377836 2022-04-05 iso4217:GBP xbrli:pure