Registered number
OC431242
Winchester Theatre Arts 2020 LLP
Filleted Accounts
31 March 2023
Winchester Theatre Arts 2020 LLP
Registered number: OC431242
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,864 4,815
Current assets
Debtors 4 303 303
Cash at bank and in hand 14,803 5,824
15,106 6,127
Creditors: amounts falling due within one year 5 (1,129) (668)
Net current assets 13,977 5,459
Total assets less current liabilities 17,841 10,274
Net assets attributable to members 17,841 10,274
Represented by:
Loans and other debts due to members 6 17,841 10,274
For the year ended 31 March 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 8 February 2024 and signed on their behalf by:
C Goodwin
Designated member
Winchester Theatre Arts 2020 LLP
Notes to the Accounts
for the year ended 31 March 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.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 equity as there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 15,847 2,530 18,377
At 31 March 2023 15,847 2,530 18,377
Depreciation
At 1 April 2022 11,091 2,471 13,562
Charge for the year 951 - 951
At 31 March 2023 12,042 2,471 14,513
Net book value
At 31 March 2023 3,805 59 3,864
At 31 March 2022 4,756 59 4,815
4 Debtors 2023 2022
£ £
Trade debtors 303 303
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 123 -
Other taxes and social security costs 306 (34)
Other creditors 700 702
1,129 668
7 Other information
Winchester Theatre Arts 2020 LLP is a limited liability partnership incorporated in England. Its registered office is:
Brewery House,
High Street
Twyford, Winchester
Hampshire
SO21 1RG
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