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Registration number: OC407143

Stellar Projects & Events LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2023

 

Stellar Projects & Events LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Notes to the Financial Statements

4

 

Stellar Projects & Events LLP

Limited liability partnership information

Designated members

Rachel Willis

Miss Lyndsey Anne Stephenson
 

Registered office

16 Northumberland Grove
Stockton-On-Tees
England
TS20 1PB

Accountants

HMB Accountants Limited
18a Manor Way
Belasis Hall Technology Park
Billingham
TS23 4HN

 

Stellar Projects & Events LLP

(Registration number: OC407143)
Balance Sheet as at 5 April 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

3

2,206

1,967

Current assets

 

Debtors

4

34,476

21,678

Cash and short-term deposits

 

146

34,582

 

34,622

56,260

Creditors: Amounts falling due within one year

5

(7,955)

(6,348)

Net current assets

 

26,667

49,912

Net assets attributable to members

 

28,873

51,879

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

28,873

51,879

   

28,873

51,879

Total members' interests

 

Loans and other debts due to members

 

28,873

51,879

   

28,873

51,879

For the year ending 5 April 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

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

The financial statements of Stellar Projects & Events LLP (registered number OC407143) were approved by the Board and authorised for issue on 4 July 2023. They were signed on behalf of the limited liability partnership by:

 

Stellar Projects & Events LLP

(Registration number: OC407143)
Balance Sheet as at 5 April 2023 (continued)

.........................................
Rachel Willis
Designated member

 

Stellar Projects & Events LLP

Notes to the Financial Statements for the Year Ended 5 April 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Stellar Projects & Events LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Stellar Projects & Events LLP

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

1

Accounting policies (continued)

other taxes policy

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Computer equipment

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 2 (2022 - 2).

 

Stellar Projects & Events LLP

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

3

Tangible fixed assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost

At 6 April 2022

825

2,826

3,651

Additions

124

851

975

At 5 April 2023

949

3,677

4,626

Depreciation

At 6 April 2022

206

1,478

1,684

Charge for the year

186

550

736

At 5 April 2023

392

2,028

2,420

Net book value

At 5 April 2023

557

1,649

2,206

At 5 April 2022

619

1,348

1,967

4

Debtors

2023
 £

2022
 £

Trade debtors

-

13,833

Prepayments and accrued income

34,476

7,845

Total current trade and other debtors

34,476

21,678

5

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Bank loans and overdrafts

3,422

-

Trade creditors

1,057

1,507

Accruals and deferred income

908

825

Taxation and social security

2,568

4,016

7,955

6,348

6

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.