Limited Liability Partnership registration number OC386015 (England and Wales)
BEACON CAPITAL LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
BEACON CAPITAL LLP
CONTENTS
- 1 -
Page
Balance sheet
2
Notes to the financial statements
3 - 5
BEACON CAPITAL LLP
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
1,231
Current assets
Debtors
4
-
19,200
Cash at bank and in hand
22,661
3,819
22,661
23,019
Creditors: amounts falling due within one year
5
(20,815)
(12,393)
Net current assets
1,846
10,626
Total assets less current liabilities and net assets attributable to members
1,846
11,857
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
11,857
14,330
Other amounts
(10,011)
(2,473)
1,846
11,857
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 28 February 2023 the limited liability partnership 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) relating to small limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 9 February 2024 and are signed on their behalf by:
09 February 2024
Mrs M Dramalioti-Taylor
Designated member
Limited Liability Partnership Registration No. OC386015
BEACON CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Limited liability partnership information
Beacon Capital LLP is a limited liability partnership incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £1.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
1.2
Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
BEACON CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
2
Employees
The average number of persons (including members) employed by the partnership during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
1,969
Disposals
(1,969)
At 28 February 2023
-
Depreciation and impairment
At 1 March 2022
738
Depreciation charged in the year
492
Eliminated in respect of disposals
(1,230)
At 28 February 2023
-
Carrying amount
At 28 February 2023
-
At 28 February 2022
1,231
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
1,200
Other debtors
-
18,000
-
19,200
BEACON CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
-
4,424
Other creditors
13,315
5,282
Accruals and deferred income
7,500
2,687
20,815
12,393