2 false false false false false false false false false false false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 10,800 2,700 540 3,240 7,560 8,100 xbrli:pure xbrli:shares iso4217:GBP OC414391 2022-04-01 2023-03-31 OC414391 2023-03-31 OC414391 2022-03-31 OC414391 2021-04-01 2022-03-31 OC414391 2022-03-31 OC414391 core:PlantMachinery 2022-04-01 2023-03-31 OC414391 bus:Director2 2022-04-01 2023-03-31 OC414391 core:PlantMachinery 2022-03-31 OC414391 core:PlantMachinery 2023-03-31 OC414391 core:WithinOneYear 2023-03-31 OC414391 core:WithinOneYear 2022-03-31 OC414391 core:PlantMachinery 2022-03-31 OC414391 bus:SmallEntities 2022-04-01 2023-03-31 OC414391 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC414391 bus:FullAccounts 2022-04-01 2023-03-31 OC414391 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC414391 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31
REGISTERED NUMBER: OC414391
COX & KEY LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
COX & KEY LLP
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
7,560
8,100
Current assets
Debtors
6
2,595
1,812
Cash at bank and in hand
12,614
8,980
---------
---------
15,209
10,792
Creditors: amounts falling due within one year
7
1,500
2,640
---------
---------
Net current assets
13,709
8,152
---------
---------
Total assets less current liabilities
21,269
16,252
---------
---------
Net assets
21,269
16,252
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
8
21,269
16,252
---------
---------
Members' other interests
Other reserves
---------
---------
21,269
16,252
---------
---------
Total members' interests
Loans and other debts due to members
8
21,269
16,252
Members' other interests
---------
---------
21,269
16,252
---------
---------
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 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 .
COX & KEY LLP
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the members and authorised for issue on 22 December 2023 , and are signed on their behalf by:
S Cox
Designated Member
Registered number: OC414391
COX & KEY LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1.
General information
Cox & Key LLP is registered in England and Wales. The LLP's registered office address is Windsor House, A1 Business Park, Long Bennington, Newark, Nottinghamshire, England, NG23 5JR, and its registered number is OC414391 .
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. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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'. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 5% straight line
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.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 2 (2022: 2 ).
5.
Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2022 and 31 March 2023
10,800
10,800
---------
---------
Depreciation
At 1 April 2022
2,700
2,700
Charge for the year
540
540
---------
---------
At 31 March 2023
3,240
3,240
---------
---------
Carrying amount
At 31 March 2023
7,560
7,560
---------
---------
At 31 March 2022
8,100
8,100
---------
---------
6.
Debtors
2023
2022
£
£
Other debtors
2,595
1,812
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,500
2,640
-------
-------
8.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
21,269
16,252
---------
---------