Limited Liability Partnership registration number OC441220 (England and Wales)
ZOOT MANAGEMENT LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ZOOT MANAGEMENT LLP
CONTENTS
Page
Balance sheet
1
Reconciliation of members' interests
2
Notes to the financial statements
3 - 5
ZOOT MANAGEMENT LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
2023
Notes
£
£
Fixed assets
Tangible assets
3
10,426
Current assets
Debtors
4
83,298
Cash at bank and in hand
242,958
326,256
Creditors: amounts falling due within one year
5
(27,244)
Net current assets
299,012
Total assets less current liabilities and net assets attributable to members
309,438
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
309,438

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial period ended 31 March 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 24 November 2023 and are signed on their behalf by:
24 November 2023
Miss Jacqueline Wade
Designated member
Limited Liability Partnership Registration No. OC441220
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ZOOT MANAGEMENT LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2023
Current financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2023
£
£
£
Members' interests at 25 February 2022
-
-
-
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
307,644
307,644
307,644
Result for the period available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the period
307,644
307,644
307,644
Drawings on account and distributions of profit
1,794
1,794
1,794
Members' interests at 31 March 2023
309,438
309,438
309,438
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ZOOT MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
Limited liability partnership information

Zoot Management LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

The company's reporting period was extended from 28 February 2023 to 31 March 2023 for business purposes. The entity therefore presents financial statements longer than one year.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.5
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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ZOOT MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance
Motor vehicles
25% reducing balance

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 recognised in the profit and loss account.

1.7
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The limited liability partnership has only has assets which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

 

Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0.

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ZOOT MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 February 2022
-
Additions
13,902
At 31 March 2023
13,902
Depreciation and impairment
At 25 February 2022
-
Depreciation charged in the period
3,476
At 31 March 2023
3,476
Carrying amount
At 31 March 2023
10,426
4
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
13,769
Other debtors
69,529
83,298
5
Creditors: amounts falling due within one year
2023
£
Trade creditors
23
Taxation and social security
26,576
Other creditors
645
27,244
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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2023-03-312022-02-25false24 November 2023CCH SoftwareCCH Accounts Production 2023.100OC4412202022-02-252023-03-31OC4412202023-03-31OC441220bus:PartnerLLP12022-02-252023-03-31OC441220bus:LimitedLiabilityPartnershipLLP2022-02-252023-03-31OC441220bus:SmallCompaniesRegimeForAccounts2022-02-252023-03-31OC441220bus:FRS1022022-02-252023-03-31OC441220bus:AuditExemptWithAccountantsReport2022-02-252023-03-31OC441220bus:FullAccounts2022-02-252023-03-31xbrli:purexbrli:sharesiso4217:GBP