Registered number
OC381197
Jihold LLP
Filleted Accounts
31 March 2023
Jihold LLP
Registered number: OC381197
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 33,780 35,560
Cash at bank and in hand 79,191 66,456
112,971 102,016
Creditors: amounts falling due within one year 4 (15,532) (8,279)
Net current assets 97,439 93,737
Total assets less current liabilities 97,439 93,737
Net assets attributable to members 97,439 93,737
Represented by:
Loans and other debts due to members 5 97,409 93,707
Members' other interests
Members' capital classified as equity 30 30
97,439 93,737
Total members' interests
Loans and other debts due to members 5 97,409 93,707
Members' other interests 30 30
97,439 93,737
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 24 November 2023 and signed on their behalf by:
David Harries
Designated member
Jihold LLP
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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
Turnover represents the value, net of value added tax and discounts, of goods provided to
customers and work carried out in respect of services provided to customers.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 3 6
3 Debtors 2023 2022
£ £
Trade debtors 33,780 35,560
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,983 4,922
Other taxes and social security costs 7,549 3,357
15,532 8,279
5 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits 97,409 93,707
Amounts falling due within one year 97,409 93,707
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Jihold LLP is a limited liability partnership incorporated in England. Its registered office is:
39 Holden Way
Upminster
Essex
RM14 1BT
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