Acorah Software Products - Accounts Production 14.5.601 false true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 OC311603 Innovative Financial Management Solutions Limited Shaw Leadership Development Limited Blue Triangle Coaching Limited Clarity Clarity Clarity Limited Douglas Associates Limited Forbes Executive Coaching Limited Janet Rubin Human Resources Consultancy Ltd Nick Brown & Co Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC311603 2022-09-30 OC311603 2023-09-30 OC311603 2022-10-01 2023-09-30 OC311603 frs-core:CurrentFinancialInstruments 2023-09-30 OC311603 frs-bus:LimitedLiabilityPartnershipLLP 2022-10-01 2023-09-30 OC311603 frs-bus:LimitedLiabilityPartnershipsSORP 2022-10-01 2023-09-30 OC311603 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 OC311603 frs-bus:SmallEntities 2022-10-01 2023-09-30 OC311603 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 OC311603 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 OC311603 frs-countries:EnglandWales 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP1 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP2 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP3 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP4 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP5 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP6 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP7 2022-10-01 2023-09-30 OC311603 frs-bus:PartnerLLP8 2022-10-01 2023-09-30 OC311603 2021-09-30 OC311603 2022-09-30 OC311603 2021-10-01 2022-09-30 OC311603 frs-core:CurrentFinancialInstruments 2022-09-30
Registered number: OC311603
Praesta Partners LLP
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC311603
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 5 220,889 294,747
Cash at bank and in hand 221,237 181,526
442,126 476,273
Creditors: Amounts Falling Due Within One Year 6 (401,937 ) (436,084 )
NET CURRENT ASSETS (LIABILITIES) 40,189 40,189
TOTAL ASSETS LESS CURRENT LIABILITIES 40,189 40,189
NET ASSETS ATTRIBUTABLE TO MEMBERS 40,189 40,189
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 40,189 40,189
40,189 40,189
40,189 40,189
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 40,189 40,189
40,189 40,189
Page 1
Page 2
For the year ending 30 September 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Innovative Financial Management Solutions Limited
Designated Member
4 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Praesta Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number OC311603 . The Registered Office is 86-90 Paul Street , London , EC2A 4NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
The taxation payable on the profits of the LLP is the personal liability of the individual Members and, as such, is not reflected in these financial statements.
2.4. Members Capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to reapy the capital to memebers, even if that obligation is conditional. 
2.5. Profit Allocations
Profits are trreated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particualr year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members' remuneration charged as an expense in the profit and loss account. 
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2022: NIL)
- -
4. Members' Remuneration
2023 2022
Average number of members during the year 8 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 217,266 287,132
Prepayments and accrued income 5,064 7,615
Other debtors (1,441 ) -
220,889 294,747
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 284,808 279,184
VAT 6,597 11,817
Accruals and deferred income 110,532 145,083
401,937 436,084
Page 4