DTL DATA SCIENCE CARRY LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
DTL Data Science Carry LLP is a limited liability partnership incorporated in England and Wales. Its registered office address is c/o Mills & Reeve LLP, Botanic House, 100 Hills Road, Cambridge, CB2 1PH. Its principal place of business is First Floor, Building Number 7, Homerton Business Centre, Purbeck Road, Cambridge, CB2 8EB.
The LLP's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The following principal accounting policies have been applied:
The LLP had net liabilities of £12,847 as at 31 August 2023 (2022 - £6,073). The financial statements have been prepared on the going concern basis and the members are confident that the LLP will make good this deficit by future gains.
The members have considered the adequacy of the LLP's financial resources at the time of approving the financial statements, and are satisfied that sufficient funds will be available for the LLP for the foreseeable future. On the basis of their review, the members have a reasonable expectation that the LLP will continue in operational existence and have sufficient resources to meet its liabilities as they fall due. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
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ALLOCATION OF PROFITS AND DRAWINGS
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There are no members paid under a contract of employment.
During the year, the members set the level of members’ drawings after considering the interim profit calculations and the LLP’s working capital needs. The LLP agreement provides that the profit and loss, after a prior profit share, are allocated in reference to the profit sharing ratios as defined in Schedule 1 of the Partnership Agreement. Such payments are accounted for as an expense and are shown within members’ remuneration.
Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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