Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31truefalse22022-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2true OC372727 2022-04-01 2023-03-31 OC372727 2021-04-01 2022-03-31 OC372727 2023-03-31 OC372727 2022-03-31 OC372727 c:CurrentFinancialInstruments 2023-03-31 OC372727 c:CurrentFinancialInstruments 2022-03-31 OC372727 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC372727 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC372727 d:FRS102 2022-04-01 2023-03-31 OC372727 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC372727 d:FullAccounts 2022-04-01 2023-03-31 OC372727 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC372727 d:PartnerLLP1 2022-04-01 2023-03-31 OC372727 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC372727 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC372727 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC372727 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 OC372727 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC372727









CINQUANTE CINQ PARTNERS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CINQUANTE CINQ PARTNERS LLP
REGISTERED NUMBER: OC372727

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note

  

Current assets
  

Debtors: amounts falling due within one year
 4 
79,646
81,861

Cash at bank and in hand
  
1,978
2,047

  
81,624
83,908

Creditors: Amounts Falling Due Within One Year
 5 
(28,440)
(32,117)

Net current assets
  
 
 
53,184
 
 
51,791

Total assets less current liabilities
  
53,184
51,791

  

Net assets
  
53,184
51,791


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
240
240

Other amounts
 6 
62,333
62,333

  
62,573
62,573

Members' other interests
  

Other reserves classified as equity

  

(9,389)
(10,782)

  
 
(9,389)
 
(10,782)

  
53,184
51,791


Total members' interests
  

Loans and other debts due to members
 6 
62,573
62,573

Members' other interests
  
(9,389)
(10,782)

  
53,184
51,791

Page 1

 
CINQUANTE CINQ PARTNERS LLP
REGISTERED NUMBER: OC372727
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the income statement in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 






A Fellous
Designated member

Date: 5 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CINQUANTE CINQ PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The principal activity of Cinquante Cinq Partners LLP ("the LLP") is that of broker-dealing services.
The business is a limited liability partnership and is incorporated in England and Wales. 
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 3

 
CINQUANTE CINQ PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. 
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Income Statement.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including members, during the year was 2 (2022 - 2).

Page 4

 
CINQUANTE CINQ PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Debtors

2023
2022


Other debtors
79,646
81,861



5.


Creditors: Amounts falling due within one year

2023
2022

Other creditors
28,440
29,926

Accruals and deferred income
-
2,191

28,440
32,117



6.


Loans and other debts due to members


2023
2022



Members' capital treated as debt
240
240

Other amounts due to members
62,333
62,333

62,573
62,573

Loans and other debts due to members may be further analysed as follows:

2023
2022



Falling due within one year
62,573
62,573

62,573
62,573

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 5

 
CINQUANTE CINQ PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Related party transactions

Details of transactions with designated members are disclosed in the Reconciliation of Members' Interests note.
Included within other debtors is a balance of €79,646 (2022: €81,861) owed by a company in which a designated member of the LLP is a director.

 
Page 6