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Company No: SO304339 (Scotland)

ANOTHER LIFE ADVISED (UK) LLP

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

ANOTHER LIFE ADVISED (UK) LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

ANOTHER LIFE ADVISED (UK) LLP

BALANCE SHEET

AS AT 31 MARCH 2023
ANOTHER LIFE ADVISED (UK) LLP

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 57,629 76,838
57,629 76,838
Current assets
Debtors 4 28,221 107,919
Cash at bank and in hand 253 153
28,474 108,072
Creditors: amounts falling due within one year 5 ( 44,293) ( 110,718)
Net current liabilities (15,819) (2,646)
Total assets less current liabilities 41,810 74,192
Creditors: amounts falling due after more than one year 6 ( 55,945) ( 73,741)
Net (liabilities)/assets attributable to members ( 14,135) 451
Represented by
Loans and other debts due to members within one year
Other amounts 82,443 70,769
82,443 70,769
Members' other interests
Other reserves (96,578) (70,318)
(96,578) (70,318)
(14,135) 451
Total members' interests
Loans and other debts due to members 82,443 70,769
Members' other interests (96,578) (70,318)
(14,135) 451

For the financial 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.

Members' responsibilities:

The financial statements of Another Life Advised (UK) LLP (registered number: SO304339) were approved and authorised for issue by the Board of Directors on 23 April 2024. They were signed on its behalf by:

Mr P D Kopec
Designated member
ANOTHER LIFE ADVISED (UK) LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
ANOTHER LIFE ADVISED (UK) LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves Other amounts Total
£ £ £
Amounts due to members 59,095
Balance at 01 April 2021 (38,387) 59,095 20,708
Loss for the financial year available for discretionary division among members (31,931) 0 (31,931)
Members' interest after loss for the financial year (70,318) 59,095 (11,223)
Payment made by Member 0 11,674 11,674
Amounts due to members 70,769
Balance at 31 March 2022 (70,318) 70,769 451
Loss for the financial year available for discretionary division among members (26,260) 0 (26,260)
Members' interest after loss for the financial year (96,578) 70,769 (25,809)
Payment made by member 0 11,674 11,674
Amounts due to members 82,443
Balance at 31 March 2023 (96,578) 82,443 (14,135)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

ANOTHER LIFE ADVISED (UK) LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
ANOTHER LIFE ADVISED (UK) LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Another Life Advised (UK) LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is 25 Portland Road, KILMARNOCK,KA1 2BT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members note that the business has net liabilities of £14,135. The LLP is supported through loans from the Related Parties. The members have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Related Parties will continue to support the LLP. After making enquiries, the members believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Equity instruments
Equity instruments issued by the LLP are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP.

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 FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' 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 payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

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 Profit and Loss Account 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'.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 138,000 138,000
At 31 March 2023 138,000 138,000
Accumulated depreciation
At 01 April 2022 61,162 61,162
Charge for the financial year 19,209 19,209
At 31 March 2023 80,371 80,371
Net book value
At 31 March 2023 57,629 57,629
At 31 March 2022 76,838 76,838

4. Debtors

2023 2022
£ £
Trade debtors 0 90,000
Other debtors 28,221 17,919
28,221 107,919

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 900 600
Obligations under finance leases and hire purchase contracts 11,674 2,776
Other creditors 31,719 107,342
44,293 110,718

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 11,293 11,293
Obligations under finance leases and hire purchase contracts 44,652 62,448
55,945 73,741