Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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16,496 | 21,794 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand | 6 |
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10,415 | 16,864 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 5,564 | 286 | ||
Total assets less current liabilities | 22,060 | 22,080 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Members' capital classified as a liability | 22,426 | 22,426 | ||
22,426 | 22,426 | |||
Members' other interests | ||||
Other reserves | (366) | (346) | ||
(366) | (346) | |||
22,060 | 22,080 | |||
Total members' interests | ||||
Loans and other debts due to members | 22,426 | 22,426 | ||
Members' other interests | (366) | (346) | ||
22,060 | 22,080 |
Members' responsibilities:
The financial statements of ZigZag Films LLP (registered number:
R Day
Designated member |
EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |
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Other reserves | Members' capital (classified as debt) | Total | |
£ | £ | £ | |
Amounts due to members | 22,426 | ||
Balance at 01 April 2021 | 0 | 22,426 | 22,426 |
Loss for the financial year available for discretionary division among members | (346) | 0 | (346) |
Members' interest after loss for the financial year | (346) | 22,426 | 22,080 |
Amounts due to members | 22,426 | ||
Balance at 31 March 2022 | (346) | 22,426 | 22,080 |
Loss for the financial year available for discretionary division among members | (20) | 0 | (20) |
Members' interest after loss for the financial year | (366) | 22,426 | 22,060 |
Amounts due to members | 22,426 | ||
Balance at 31 March 2023 | (366) | 22,426 | 22,060 |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
ZigZag Films LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Links Barn Ellerton Road, Hinstock, Market Drayton, TF9 2NJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are 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 Statement of Comprehensive Income.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.
2023 | 2022 | ||
Number | Number | ||
Average number of members during the financial year | 2 | 2 |
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2022 |
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Additions |
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At 31 March 2023 |
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Accumulated depreciation | |||
At 01 April 2022 |
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Charge for the financial year |
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At 31 March 2023 |
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Net book value | |||
At 31 March 2023 |
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At 31 March 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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2023 | 2022 | ||
£ | £ | ||
Cash at bank and in hand |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Other taxation and social security |
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Other creditors |
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