Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true2022-03-08falseNo description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC441336 2022-03-07 OC441336 2022-03-08 2022-12-31 OC441336 2021-03-08 2022-03-07 OC441336 2022-12-31 OC441336 c:CurrentFinancialInstruments 2022-12-31 OC441336 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC441336 d:FRS102 2022-03-08 2022-12-31 OC441336 d:AuditExempt-NoAccountantsReport 2022-03-08 2022-12-31 OC441336 d:FullAccounts 2022-03-08 2022-12-31 OC441336 d:LimitedLiabilityPartnershipLLP 2022-03-08 2022-12-31 OC441336 d:PartnerLLP1 2022-03-08 2022-12-31 iso4217:GBP xbrli:pure


Registered number: OC441336












TRIADIC LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ENDED 31 DECEMBER 2022

 

TRIADIC LLP

CONTENTS



Page
Information
 
1
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6



 
REGISTERED NUMBER:OC441336
TRIADIC LLP

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note
£

  

Current assets
  

Cash at bank and in hand
  
86,280

  
86,280

Creditors: amounts falling due within one year
 3 
(7,680)

Net current assets
  
 
 
78,600

Total assets less current liabilities
  
78,600

  

Net assets
  
78,600


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts due to members
 4 
78,600

  


Total members' interests
  

Loans and other debts due to members
 4 
78,600


Page 1


 
REGISTERED NUMBER:OC441336
TRIADIC LLP
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Elizabeth Grace Edelman
Designated member

Date: 29 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Triadic LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 

TRIADIC LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ENDED 31 DECEMBER 2022

1.


General information

Triadic LLP is a limited liability partnership registered in England and Wales. Its registered office is 85 Oxford Gardens,  London, W10 5UL.
The financial statements are prepared in Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the designated members have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these fianncial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 

TRIADIC LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


2.6

Financial instruments

The LLP has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the LLP becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities. 
 
The LLP’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 4

 

TRIADIC LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ENDED 31 DECEMBER 2022

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the LLP would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Page 5

 

TRIADIC LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED ENDED 31 DECEMBER 2022

3.


Creditors: amounts falling due within one year

Period ended 31 December 2022
£

Trade creditors
2,480

Accruals and deferred income
5,200

7,680



4.


Loans and other debts due to members


2022
£



Other amounts due to members
78,600

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.



 
Page 6