Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false22022-04-01aircraft chartering business including aircraft tuition2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC427089 2022-04-01 2023-03-31 OC427089 2021-04-01 2022-03-31 OC427089 2023-03-31 OC427089 2022-03-31 OC427089 c:PlantMachinery 2022-04-01 2023-03-31 OC427089 c:PlantMachinery 2023-03-31 OC427089 c:PlantMachinery 2022-03-31 OC427089 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC427089 c:CurrentFinancialInstruments 2023-03-31 OC427089 c:CurrentFinancialInstruments 2022-03-31 OC427089 c:CurrentFinancialInstruments 2 2023-03-31 OC427089 c:CurrentFinancialInstruments 2 2022-03-31 OC427089 c:Non-currentFinancialInstruments 2023-03-31 OC427089 c:Non-currentFinancialInstruments 2022-03-31 OC427089 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC427089 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC427089 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC427089 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC427089 e:FRS102 2022-04-01 2023-03-31 OC427089 e:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC427089 e:FullAccounts 2022-04-01 2023-03-31 OC427089 e:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC427089 e:PartnerLLP1 2022-04-01 2023-03-31 OC427089 e:PartnerLLP2 2022-04-01 2023-03-31 OC427089 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC427089 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC427089 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC427089 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC427089














2DOGZ LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
2DOGZ LLP
 

CONTENTS



Page
Balance sheet
 
1 - 2
Reconciliation of members' interests
 
3
Notes to the financial statements
 
4 - 8


 
2DOGZ LLP
REGISTERED NUMBER:OC427089

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
972,960
1,033,770

  
972,960
1,033,770

Current assets
  

Debtors: amounts falling due within one year
 5 
1,314
384

Cash at bank and in hand
 6 
44,259
21,482

  
45,573
21,866

Creditors: amounts falling due within one year
 7 
(64,406)
(67,567)

Net current liabilities
  
 
 
(18,833)
 
 
(45,701)

Total assets less current liabilities
  
954,127
988,069

Creditors: amounts falling due after more than one year
 8 
(397,495)
(456,241)

  
556,632
531,828

  

Net assets
  
556,632
531,828


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
1,199,716
974,061

  
1,199,716
974,061

Members' other interests
  

Other reserves classified as equity
  
(643,084)
(442,233)

  
 
(643,084)
 
(442,233)

  
556,632
531,828


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(1,314)
(384)

Loans and other debts due to members
 9 
1,199,716
974,061

Members' other interests
  
(643,084)
(442,233)

  
555,318
531,444


1

 
2DOGZ LLP
REGISTERED NUMBER:OC427089
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




A D Quessy
A L Quessy
Designated member
Designated member


Date: 23 November 2023

2Dogz LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

2

 
2DOGZ LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Amounts due to members 
797,469
797,469


Amounts due from members 

(384)
(384)


Balance at 1 April 2021 
(290,048)
(290,048)
797,085
797,085
507,037

Loss for the year available for discretionary division among members
 
(152,185)
(152,185)
-
-
(152,185)

Members' interests after profit for the year
(442,233)
(442,233)
797,085
797,085
354,852

Amounts introduced by members
-
-
184,344
184,344
184,344

Drawings on account and distribution of profit
 
-
-
(7,752)
(7,752)
(7,752)

Amounts due to members
974,061
974,061

Amounts due from members
 


(384)
(384)


Balance at 31 March 2022
(442,233)
(442,233)
973,677
973,677
531,444

Loss for the year available for discretionary division among members
 
(200,851)
(200,851)
-
-
(200,851)

Members' interests after profit for the year
(643,084)
(643,084)
973,677
973,677
330,593

Amounts introduced by members
-
-
237,655
237,655
237,655

Drawings on account and distribution of profit
 
-
-
(12,930)
(12,930)
(12,930)

Amounts due to members
1,199,716
1,199,716

Amounts due from members
 


(1,314)
(1,314)


Balance at 31 March 2023 
(643,084)
(643,084)
1,198,402
1,198,402
555,318

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.

3

 
2DOGZ LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

2Dogz LLP is a limited liability partnership, registered in England and Wales, registration number OC427089. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, WIW 8BE.
The principal activity of the LLP is aircraft chartering business including aircraft tuition.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The LLP's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the members have confirmed to continue to provide necessary funding in order for the LLP to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the members are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Turnover

Turnover from aircraft chartering business is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

4

 
2DOGZ LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Aircraft
-
5%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

 Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future
5

 
2DOGZ LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
 Financial instruments (continued)

receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including designated members, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Aircraft

£



Cost


At 1 April 2022
1,216,200



At 31 March 2023

1,216,200



Depreciation


At 1 April 2022
182,430


Charge for the year
60,810



At 31 March 2023

243,240



Net book value



At 31 March 2023
972,960



At 31 March 2022
1,033,770

6

 
2DOGZ LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Amounts due from members
1,314
384



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
44,259
21,482



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
58,575
64,867

Accruals
5,831
2,700

64,406
67,567


Bank loans of £58,575 (2022 - £64,867) are secured by fixed and floating charge over the aircraft held by the LLP.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
397,495
456,241


Bank loans of £397,495 (2022 - £456,241) are secured by fixed and floating charge over the aircraft held by the LLP.

7

 
2DOGZ LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(1,199,716)
(974,061)

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
(1,199,716)
(974,061)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
8