Registered number
OC411805
Fidelitas Advisors LLP
Filleted Accounts
5 April 2023
Fidelitas Advisors LLP
Registered number: OC411805
Balance Sheet
as at 5 April 2023
Notes 2023 2022
£ £
Current assets
Debtors 2 526 526
Cash at bank and in hand - 4,888
526 5,414
Creditors: amounts falling due within one year 3 (728) (5,627)
Net current liabilities (202) (213)
Total assets less current liabilities (202) (213)
Net liabilities attributable to members (202) (213)
Represented by:
Members' other interests
Members' capital classified as equity 24,216 22,682
Other reserves (24,418) (22,895)
(202) (213)
(202) (213)
Total members' interests
Members' other interests (202) (213)
(202) (213)
For the period ended 5 April 2023 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 January 2024 and signed on their behalf by:
Banbury Fields Inc
Designated member
Fidelitas Advisors LLP
Notes to the Accounts
for the period from 1 June 2022 to 5 April 2023
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.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2023 2022
Average number of employees - -
2 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest 526 526
3 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 159 5,303
Other creditors 569 324
728 5,627
4 Other information
Fidelitas Advisors LLP is a limited liability partnership incorporated in England. Its registered office is:
48 Dover Street
London
United Kingdom
W1S 4FF
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