Registered number
OC415116
Castles Education LLP
Filleted Accounts
31 December 2022
Castles Education LLP
Registered number: OC415116
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 89,399 37,640
Current assets
Debtors 4 1,338,333 172,395
Cash at bank and in hand 238,759 644,894
1,577,092 817,289
Creditors: amounts falling due within one year 5 (1,730,678) (1,367,623)
Net current liabilities (153,586) (550,334)
Total assets less current liabilities (64,187) (512,694)
Net liabilities attributable to members (64,187) (512,694)
Represented by:
Loans and other debts due to members 6 (64,187) (512,694)
(64,187) (512,694)
Total members' interests
Loans and other debts due to members 6 (64,187) (512,694)
(64,187) (512,694)
For the year ended 31 December 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 19 December 2023 and signed on their behalf by:
John Plant Marsden
Designated member
Castles Education LLP
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular 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.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2022 2021
Number Number
Average number of persons employed by the LLP 50 45
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 18,087 34,292 52,379
Additions 81,156 - 81,156
Disposals - (21,000) (21,000)
At 31 December 2022 99,243 13,292 112,535
Depreciation
At 1 January 2022 7,881 6,858 14,739
Charge for the year 9,939 5,458 15,397
On disposals - (7,000) (7,000)
At 31 December 2022 17,820 5,316 23,136
Net book value
At 31 December 2022 81,423 7,976 89,399
At 31 December 2021 10,206 27,434 37,640
4 Debtors 2022 2021
£ £
Trade debtors 1,146,100 100,872
Other debtors 192,233 71,523
1,338,333 172,395
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 35,833 45,833
Trade creditors 1,023,276 879,731
Other taxes and social security costs 143,758 72,791
Other creditors 527,811 369,268
1,730,678 1,367,623
6 Loans and other debts due to members 2022 2021
£ £
Amounts due to members in respect of profits (64,187) (512,694)
Amounts falling due within one year (64,187) (512,694)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Castles Education LLP is a limited liability partnership incorporated in England. Its registered office is:
Unit 2 Grange Road
Grange Valley Business Park
Batley
West Yorkshire
WF17 6LL
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