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REGISTERED NUMBER: OC381101 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

STONEGATE TECHNOLOGIES LLP

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STONEGATE TECHNOLOGIES LLP

GENERAL INFORMATION
for the Year Ended 31st December 2022







DESIGNATED MEMBERS: A M Smith
Mrs T E Smith





REGISTERED OFFICE: Clarence House
279 Helmshore Road
Haslingden
Rossendale
Lancashire
BB4 4DJ





REGISTERED NUMBER: OC381101 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

BALANCE SHEET
31st December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 219,207 256,972
Tangible assets 5 34,842 881
254,049 257,853

CURRENT ASSETS
Debtors 6 152,742 74,704
Cash at bank 159,962 235,230
312,704 309,934
CREDITORS
Amounts falling due within one year 7 (214,905 ) (150,562 )
NET CURRENT ASSETS 97,799 159,372
TOTAL ASSETS LESS CURRENT LIABILITIES 351,848 417,225

CREDITORS
Amounts falling due after more than one year 8 (73,021 ) (43,750 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 278,827 373,475

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

BALANCE SHEET - continued
31st December 2022

2022 2021
Notes £    £   
LOANS AND OTHER DEBTS DUE TO MEMBERS 9 278,827 373,475

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 278,827 373,475
Amounts due from members 6 (111,075 ) (6,282 )
167,752 367,193

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st December 2022.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit & Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the members of the LLP and authorised for issue on 23rd November 2023 and were signed by:





A M Smith - Designated member

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022


1. STATUTORY INFORMATION

Stonegate Technologies LLP is a limited liability partnership incorporated in England and Wales, registration number OC381101. The address of the registered office and principal place of business is Clarence House 279 Helmshore Road, Haslingden, Rossendale, Lancashire, BB4 4DJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of consideration receieved or receivable for IT consultancy and services, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Goodwill is being amortised evenly over its estimated useful life of 20 years.

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Motor vehicles20% reducing balance
Computer equipment20% reducing balance

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2021 - 13 ) .

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2022
and 31st December 2022 428,291
AMORTISATION
At 1st January 2022 171,319
Amortisation for year 37,765
At 31st December 2022 209,084
NET BOOK VALUE
At 31st December 2022 219,207
At 31st December 2021 256,972

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2022 - 2,818 2,818
Additions 34,138 - 34,138
At 31st December 2022 34,138 2,818 36,956
DEPRECIATION
At 1st January 2022 - 1,937 1,937
Charge for year - 177 177
At 31st December 2022 - 2,114 2,114
NET BOOK VALUE
At 31st December 2022 34,138 704 34,842
At 31st December 2021 - 881 881

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 20,597 65,326
Other debtors 132,145 9,378
152,742 74,704

STONEGATE TECHNOLOGIES LLP (REGISTERED NUMBER: OC381101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 89,066 12,235
Hire purchase contracts 4,749 -
Trade creditors 57,296 74,000
Taxation and social security 13,565 37,585
Other creditors 50,229 26,742
214,905 150,562

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 38,750 43,750
Hire purchase contracts 34,271 -
73,021 43,750

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.