Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 OC356138 Mr Alastair Petfield Mr Daniel Bloomfield iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC356138 2022-07-31 OC356138 2023-07-31 OC356138 2022-08-01 2023-07-31 OC356138 frs-core:CurrentFinancialInstruments 2023-07-31 OC356138 frs-core:FurnitureFittings 2023-07-31 OC356138 frs-core:FurnitureFittings 2022-08-01 2023-07-31 OC356138 frs-core:FurnitureFittings 2022-07-31 OC356138 frs-bus:LimitedLiabilityPartnershipLLP 2022-08-01 2023-07-31 OC356138 frs-bus:LimitedLiabilityPartnershipsSORP 2022-08-01 2023-07-31 OC356138 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 OC356138 frs-bus:SmallEntities 2022-08-01 2023-07-31 OC356138 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 OC356138 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 OC356138 frs-countries:EnglandWales 2022-08-01 2023-07-31 OC356138 frs-bus:PartnerLLP1 2022-08-01 2023-07-31 OC356138 frs-bus:PartnerLLP2 2022-08-01 2023-07-31 OC356138 2021-07-31 OC356138 2022-07-31 OC356138 2021-08-01 2022-07-31 OC356138 frs-core:CurrentFinancialInstruments 2022-07-31
Registered number: OC356138
Subexotic Records LLP
Financial Statements
For The Year Ended 31 July 2023
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
36-38 Westbourne Grove
Newton Road
London
W2 5SH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC356138
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 283 2,284
283 2,284
CURRENT ASSETS
Debtors 5 - 919
Cash at bank and in hand 12,504 19,372
12,504 20,291
Creditors: Amounts Falling Due Within One Year 6 (830 ) (781 )
NET CURRENT ASSETS (LIABILITIES) 11,674 19,510
TOTAL ASSETS LESS CURRENT LIABILITIES 11,957 21,794
NET ASSETS ATTRIBUTABLE TO MEMBERS 11,957 21,794
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability (31,474) (31,474)
Other amounts 43,431 53,268
11,957 21,794
11,957 21,794
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 11,957 21,794
11,957 21,794
Page 1
Page 2
For the year ending 31 July 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
Mr Daniel Bloomfield
Designated Member
24 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
Subexotic Records LLP is a limited liability partnership, incorporated in England & Wales, registered number OC356138 . The Registered Office is 220 Totteridge Road, High Wycombe, Buckinghamshire, HP13 7LF.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Sraight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2022 44,013
As at 31 July 2023 44,013
Depreciation
As at 1 August 2022 41,729
Provided during the period 2,001
As at 31 July 2023 43,730
Net Book Value
As at 31 July 2023 283
As at 1 August 2022 2,284
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 919
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
VAT 330 283
Accruals and deferred income 500 498
830 781
Page 4