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Registered Number: OC425823
England and Wales

 

 

 

CIRCLE CLOUD ACCOUNTANTS & CONSULTANTS LLP


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 4,036    5,046 
4,036    5,046 
Current assets      
Debtors 4,693    4,477 
Cash at bank and in hand 17,330    38,746 
22,023    43,223 
Creditors: amount falling due within one year (9,530)   (3,610)
Net current assets 12,493    39,613 
 
Total assets less current liabilities 16,529    44,659 
Creditors: amount falling due after more than one year (470)   (3,264)
Accruals and deferred income   (25,420)
Provisions for liabilities (83)  
Net assets 15,976    15,975 
 

Represented by:
Amounts due from members (9,052)   (3,480)
Members' other interest
Members' capital 15,975    15,975 
Other reserves 9,053    3,480 
25,028    19,455 

15,976    15,975 
 

Total members' interests
Amounts due from members (9,052)   (3,480)
Members' other interests 25,028    19,455 
15,976    15,975 
 


For the year ended 31/03/2023, the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006.


The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs).

These accounts were approved by the members and signed on their behalf by:


.............................................................................
Thoi Van Nguyen
Designated Member
Date approved by the members: 10 November 2023
1
General Information
The members present their report and the unaudited financial statements of the LLP. The presentation currency is £ sterling. The LLP's main activities was to provides accounting, tax and consulting services during the year and was regulated by the AIA and CISI.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Judgments and key sources of estimation uncertainty.
The members are of the opinion that no significant judgments were required in preparing the financial statements
Members' participation rights.
 
Where the LLP has reported profits, the principal designed member will decide the amounts of profits owed to members. The allocated amounts will depend on the performance that each member brought to the LLP and allocation has been agreed in accordance with the LLP Agreement.

The LLP would not distribute to members during the year if necessary after taking into account the anticipated and future cash needs of the LLP.  Other amounts and benefits applied to members, for example, remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits as described above according to whether the LLP has.

Where the LLP decided to distribute profits to each member, all amounts due to members that are classified as liabilities are presented in the statement of financial position. Amounts due to members that are classified as equity are shown in the statement of financial position within other Reserves.


Turnover
Turnover comprises the invoiced value of goods and services supplied by the company.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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 20 Reducing Balance
Fixtures and Fittings 20 Reducing Balance
Computer Equipment 20 Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 7,250    256    852    8,358 
Additions      
Disposals      
At 31 March 2023 7,250    256    852    8,358 
Depreciation
At 01 April 2022 2,538    77    276    2,891 
Charge for year 1,324    22    85    1,431 
On disposals      
At 31 March 2023 3,862    99    361    4,322 
Net book values
Closing balance as at 31 March 2023 3,388    157    491    4,036 
Opening balance as at 01 April 2022 4,236    197    613    5,046 


2