0 false false false false false false false false false false false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 174,997 40,000 174,997 40,000 40,000 174,997 xbrli:pure xbrli:shares iso4217:GBP OC427945 2022-08-01 2023-03-31 OC427945 2023-03-31 OC427945 2022-07-31 OC427945 bus:Director1 2022-08-01 2023-03-31 OC427945 bus:Director3 2022-08-01 2023-03-31 OC427945 core:WithinOneYear 2023-03-31 OC427945 core:WithinOneYear 2022-07-31 OC427945 core:AfterOneYear 2023-03-31 OC427945 core:AfterOneYear 2022-07-31 OC427945 core:CostValuation core:Non-currentFinancialInstruments 2022-07-31 OC427945 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 OC427945 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-03-31 OC427945 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 OC427945 core:Non-currentFinancialInstruments 2023-03-31 OC427945 core:Non-currentFinancialInstruments 2022-07-31 OC427945 bus:SmallEntities 2022-08-01 2023-03-31 OC427945 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-03-31 OC427945 bus:FullAccounts 2022-08-01 2023-03-31 OC427945 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-03-31 OC427945 bus:LimitedLiabilityPartnershipLLP 2022-08-01 2023-03-31
REGISTERED NUMBER: OC427945
Nickleby Capital LLP
Filleted Unaudited Financial Statements
31 March 2023
Nickleby Capital LLP
Financial Statements
Period from 1 August 2022 to 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Nickleby Capital LLP
Statement of Financial Position
31 March 2023
31 Mar 23
31 Jul 22
Note
£
£
Fixed assets
Investments
4
40,000
174,997
Current assets
Debtors
5
201,986
265,777
Cash at bank and in hand
250,630
36,074
---------
---------
452,616
301,851
Creditors: amounts falling due within one year
6
24,850
25,218
---------
---------
Net current assets
427,766
276,633
---------
---------
Total assets less current liabilities
467,766
451,630
Creditors: amounts falling due after more than one year
7
342,501
306,250
---------
---------
Net assets
125,265
145,380
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
8
125,265
145,380
---------
---------
Members' other interests
Other reserves
---------
---------
125,265
145,380
---------
---------
Total members' interests
Amounts due from members
(152,028)
(265,777)
Loans and other debts due to members
8
125,265
145,380
Members' other interests
---------
---------
(26,763)
(120,397)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
Nickleby Capital LLP
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the members and authorised for issue on 19 May 2023 , and are signed on their behalf by:
Mr M Schiavo
Mr S Shah
Designated Member
Designated Member
Registered number: OC427945
Nickleby Capital LLP
Notes to the Financial Statements
Period from 1 August 2022 to 31 March 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 193 Broomwood Road, London, SW11 6JX.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
Other investments other than loans
£
Cost
At 1 August 2022
174,997
Additions
40,000
Disposals
( 174,997)
---------
At 31 March 2023
40,000
---------
Impairment
At 1 August 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
40,000
---------
At 31 July 2022
174,997
---------
5.
Debtors
31 Mar 23
31 Jul 22
£
£
Other debtors
201,986
265,777
---------
---------
6. Creditors: amounts falling due within one year
31 Mar 23
31 Jul 22
£
£
Bank loans and overdrafts
18
Other creditors
24,850
25,200
--------
--------
24,850
25,218
--------
--------
7. Creditors: amounts falling due after more than one year
31 Mar 23
31 Jul 22
£
£
Bank loans and overdrafts
49,407
49,407
Other creditors
293,094
256,843
---------
---------
342,501
306,250
---------
---------
8.
Loans and other debts due to members
31 Mar 23
31 Jul 22
£
£
Amounts owed to members in respect of profits
125,265
145,380
---------
---------