Registered No. OC393548 (England and Wales)
Fusion Partners LLP
Unaudited accounts
for the year ended 31 March 2023
Fusion Partners LLP
LLP Information
for the year ended 31 March 2023
Designated members
Miss Heidi Elliss
Registered Number
OC393548 (England and Wales)
Registered Office
50 Mead Lane
Buxted
East Sussex
TN22 4AS
Accountants
Fusion Partners LLP
50 Mead Lane
Buxted
East Sussex
TN22 4AS
Fusion Partners LLP
Statement of financial position
as at 31 March 2023
Tangible assets
18,699
37,883
Cash at bank and in hand
41,465
48,283
Creditors: amounts falling due within one year
(42,530)
(24,587)
Net current assets
20,095
50,636
Total assets less current liabilities
38,794
88,519
Creditors: amounts falling due after more than one year
(71,464)
(78,821)
Net (liabilities)/assets attributable to members
(32,670)
9,698
Loans and other debts due to members
(429,923)
(211,213)
Members' capital classified as equity
4,000
-
Other reserves
393,253
220,911
Loans and other debts due to members
(429,923)
(211,213)
Members' other interests
397,253
220,911
For the year ending 31 March 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 14 November 2023.
MR Anthony Rogers
Designated member
Limited Liability Partnership Registration No. OC393548
Fusion Partners LLP
Notes to the Accounts
for the year ended 31 March 2023
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
2 Years
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.
All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.
Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
The accounts are presented in £ sterling.
Fusion Partners LLP is a limited liability partnership, incorporated in England and Wales, registration number OC393548. Its registered office is 50 Mead Lane, Buxted, East Sussex, TN22 4AS.
Fusion Partners LLP
Notes to the Accounts
for the year ended 31 March 2023
3
Tangible fixed assets
Land & buildings
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
23,530
57,490
-
81,020
Revaluations
-
-
(19,184)
(19,184)
At 31 March 2023
23,530
57,490
(19,184)
61,836
At 1 April 2022
-
23,954
19,183
43,137
At 31 March 2023
-
23,954
19,183
43,137
At 31 March 2023
23,530
33,536
(38,367)
18,699
At 31 March 2022
23,530
33,536
(19,183)
37,883
4
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
204
-
Trade creditors
14,700
24,383
Amounts owed to group undertakings and other participating interests
-
204
Taxes and social security costs
16,732
-
5
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
36,610
42,967
6
Loans and other debts due to members
2023
2022
Amounts due to members in respect of profits
(429,923)
(211,213)
Amounts falling due within one year
(429,923)
(211,213)
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).