Girona Partners LLP OC442364 false 2022-05-19 2023-05-31 2023-05-31 The principal activity of the company is that of investment management Digita Accounts Production Advanced 6.30.9574.0 true OC442364 2022-05-19 2023-05-31 OC442364 2023-05-31 OC442364 core:OtherReservesSubtotal 2023-05-31 OC442364 core:CurrentFinancialInstruments 2023-05-31 OC442364 core:WithinOneYear 2023-05-31 OC442364 bus:SmallEntities 2022-05-19 2023-05-31 OC442364 bus:AuditExemptWithAccountantsReport 2022-05-19 2023-05-31 OC442364 bus:FilletedAccounts 2022-05-19 2023-05-31 OC442364 bus:SmallCompaniesRegimeForAccounts 2022-05-19 2023-05-31 OC442364 bus:RegisteredOffice 2022-05-19 2023-05-31 OC442364 bus:PartnerLLP1 2022-05-19 2023-05-31 OC442364 bus:PartnerLLP2 2022-05-19 2023-05-31 OC442364 bus:PartnerLLP3 2022-05-19 2023-05-31 OC442364 bus:LimitedLiabilityPartnershipLLP 2022-05-19 2023-05-31 OC442364 countries:AllCountries 2022-05-19 2023-05-31 iso4217:GBP xbrli:pure

Registration number: OC442364

Girona Partners LLP

Annual Report and Unaudited Financial Statements

for the period from 19 May 2022 to 31 May 2023

 

Girona Partners LLP

Limited liability partnership information

Designated members

Peter Foldvari

Jamil Hassan Farooqi

John Shipley Barakat
 

Registered office

Suite 1, 7th Floor
50 Broadway
London
United Kingdom
SW1H 0DB

Accountants

EVMS Partners LLP
Chartered Accountants
1st Floor, 5 St Bride Street
London
EC4A 4AS

 

Girona Partners LLP

(Registration number: OC442364)
Balance Sheet as at 31 May 2023

Note

31 May 2023
 £

Current assets

 

Cash and short-term deposits

 

900

Creditors: Amounts falling due within one year

3

(5,949)

Net liabilities attributable to members

 

(5,049)

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

30

Other amounts

4

34,600

 

34,630

Members’ other interests

 

Other reserves

 

(39,679)

   

(5,049)

Total members' interests

 

Loans and other debts due to members

 

34,630

Equity

 

(39,679)

   

(5,049)

For the year ending 31 May 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

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

 

Girona Partners LLP

(Registration number: OC442364)
Balance Sheet as at 31 May 2023 (continued)

The financial statements of Girona Partners LLP (registered number OC442364) were approved by the Board and authorised for issue on 27 March 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Peter Foldvari
Designated member

.........................................
John Shipley Barakat
Designated member

 

Girona Partners LLP

Statement of Changes in Members’ Interests
At 31 May 2023

 

Equity

 

Loans and other debts due to/(from) members

   

Other reserves
£

Total equity
£

Members' capital classified as a liability
£

Members' other amounts
£

Total debt
£

Total
2023
 £

Loss for the financial period available for discretionary division among members

(39,679)

(39,679)

-

-

-

(39,679)

Members’ capital introduced

-

-

30

-

30

30

Other amounts introduced by members

-

-

-

34,600

34,600

34,600

At 31 May 2023

(39,679)

(39,679)

30

34,600

34,630

(5,049)

 

 

Girona Partners LLP

Notes to the Financial Statements for the Period from 19 May 2022 to 31 May 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is Suite 1, 7th Floor 50 Broadway, London, SW1H 0DB. The principal activity of the LLP is that of investment management.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Girona Partners LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Members' remuneration and division of profits

Profits are divided amongst members according to the terms set out in the LLP agreement. Members'
fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members'
balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are
treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members.

 

Girona Partners LLP

Notes to the Financial Statements for the Period from 19 May 2022 to 31 May 2023 (continued)

1

Accounting policies (continued)

Financial instruments

Classification

The LLP does not trade in financial instruments and all such instruments arise directly from operations.

All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The LLP does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.

The LLP's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings.

Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the LLP only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any time.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 0.

3

Creditors: Amounts falling due within one year

31 May 2023
 £

Trade creditors

2,949

Accruals and deferred income

3,000

5,949

4

Analysis of other amounts

31 May 2023
 £

Money advanced to the LLP by the members by way of loan

34,600