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REGISTERED NUMBER: OC430203
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Filleted Unaudited Financial Statements
31 March 2023
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Financial Statements
Year ended 31 March 2023
Contents
Page
Members' report
1
Statement of financial position
2
Notes to the financial statements
4
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Members' Report
Year ended 31 March 2023
The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2023 .
Principal activities
The principal activity of the company during the year was the sale of sports nutrition products.
Designated members
The designated members who served the LLP during the year were as follows:
Mr C P Barwick
Mr J C Barwick
Mr C P Barwick resigned as a designated member on 12 July 2023
OSO Management Limited was appointed as a designated member on 12 July 2023
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
This report was approved by the members on 21 December 2023 and signed on behalf of the members by:
Mr J C Barwick
Designated Member
Registered office:
Camburgh House
27 New Dover Road
Canterbury
Kent
United Kingdom
CT1 3DN
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
45,863
33,808
Cash at bank and in hand
712
387
--------
--------
46,575
34,195
Creditors: amounts falling due within one year
6
875
750
--------
--------
Net current assets
45,700
33,445
--------
--------
Total assets less current liabilities
45,700
33,445
--------
--------
Net assets
45,700
33,445
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
7
45,700
33,445
--------
--------
Members' other interests
Other reserves
--------
--------
45,700
33,445
--------
--------
Total members' interests
Loans and other debts due to members
7
45,700
33,445
Members' other interests
--------
--------
45,700
33,445
--------
--------
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 income and retained earnings has not been delivered.
For the year 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 .
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the members and authorised for issue on 21 December 2023 , and are signed on their behalf by:
Mr J C Barwick
Designated Member
Registered number: OC430203
OSO Adventure LLP (previously Action Sports Nutrition LLP)
Notes to the Financial Statements
Year ended 31 March 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis due to the ongoing support of the members.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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 is discretionary on the part of the LLP.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Employee numbers
The average number of persons employed by the LLP during the year amounted to Nil.
5.
Debtors
2023
2022
£
£
Other debtors
45,863
33,808
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
875
750
----
----
7.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
45,700
33,445
--------
--------