IRIS Accounts Production v23.3.1.45 OC412032 designated member designated member 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4120322022-03-31OC4120322023-03-31OC4120322022-04-012023-03-31OC4120322021-03-31OC4120322021-04-012022-03-31OC4120322022-03-31OC412032ns16:EnglandWales2022-04-012023-03-31OC412032ns15:PoundSterling2022-04-012023-03-31OC412032ns11:Director12022-04-012023-03-31OC412032ns11:Director22022-04-012023-03-31OC412032ns11:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC412032ns11:SmallEntities2022-04-012023-03-31OC412032ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC412032ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31OC412032ns11:LimitedLiabilityPartnershipsSORP2022-04-012023-03-31OC412032ns11:FullAccounts2022-04-012023-03-31OC412032ns11:RegisteredOffice2022-04-012023-03-31OC412032ns6:CurrentFinancialInstruments2023-03-31OC412032ns6:CurrentFinancialInstruments2022-03-31OC412032ns6:Non-currentFinancialInstruments2023-03-31OC412032ns6:Non-currentFinancialInstruments2022-03-31OC412032ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-012023-03-31OC412032ns6:FurnitureFittings2022-04-012023-03-31OC412032ns6:MotorVehicles2022-04-012023-03-31OC412032ns6:ComputerEquipment2022-04-012023-03-31OC412032ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-31OC412032ns6:FurnitureFittings2022-03-31OC412032ns6:MotorVehicles2022-03-31OC412032ns6:ComputerEquipment2022-03-31OC412032ns6:ShortLeaseholdAssetsns6:LandBuildings2023-03-31OC412032ns6:FurnitureFittings2023-03-31OC412032ns6:MotorVehicles2023-03-31OC412032ns6:ComputerEquipment2023-03-31OC412032ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-31OC412032ns6:FurnitureFittings2022-03-31OC412032ns6:MotorVehicles2022-03-31OC412032ns6:ComputerEquipment2022-03-31OC412032ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31OC412032ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31OC412032ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-31OC412032ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-31
REGISTERED NUMBER: OC412032 (England and Wales)



Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fahri LLP

Fahri LLP (Registered number: OC412032)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fahri LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Ms W D Fahri
O I Fahri





REGISTERED OFFICE: Unit 3
Mountview Court
310 Friern Barnet Lane
London
N20 0LD





REGISTERED NUMBER: OC412032 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Fahri LLP (Registered number: OC412032)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 137,460 54,657

CURRENT ASSETS
Debtors 5 200,578 301,188
Cash at bank and in hand 6,786,937 9,759,100
6,987,515 10,060,288
CREDITORS
Amounts falling due within one year 6 (6,746,772 ) (9,855,025 )
NET CURRENT ASSETS 240,743 205,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,203

259,920

CREDITORS
Amounts falling due after more than one year 7 (127,169 ) (90,724 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

251,034

169,196

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

251,034

169,196

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 251,034 169,196
Amounts due from members 5 (50,762 ) (22,479 )
200,272 146,717

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Fahri LLP (Registered number: OC412032)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 25 January 2024 and were signed by:




O I Fahri - Designated member




Ms W D Fahri - Designated member


Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Fahri LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at Insert detail.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 26 (2022 - 25 ) .

Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 871 20,334 105,195 23,355 149,755
Additions - 10,007 136,195 20,908 167,110
Disposals - - (102,945 ) - (102,945 )
At 31 March 2023 871 30,341 138,445 44,263 213,920
DEPRECIATION
At 1 April 2022 493 12,774 65,984 15,847 95,098
Charge for year 87 4,391 34,227 7,104 45,809
Eliminated on disposal - - (64,447 ) - (64,447 )
At 31 March 2023 580 17,165 35,764 22,951 76,460
NET BOOK VALUE
At 31 March 2023 291 13,176 102,681 21,312 137,460
At 31 March 2022 378 7,560 39,211 7,508 54,657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 131,943 221,426
Amounts due from members 50,762 22,479
Other debtors 2,000 -
Prepayments 15,873 57,283
200,578 301,188

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Social security and other taxes 43,421 34,934
Pension 3,788 2,946
VAT 115,815 96,086
Client account 6,489,092 9,531,251
Accrued expenses 94,656 189,808
6,746,772 9,855,025

Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 8) 33,516 41,667
Hire purchase contracts 93,653 49,057
127,169 90,724

8. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 33,516 41,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 93,653 49,057

The hire purchase debts are secured against the assets.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 251,034 169,196

Falling due within one year 251,034 169,196

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.