Registered number
OC308373
Ironbridge Capital Partners LLP
Filleted Accounts
31 March 2023
Ironbridge Capital Partners LLP
Registered number: OC308373
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 1 1
Current assets
Debtors 5 (345) 1,255
Cash at bank and in hand 29,548 33,471
29,203 34,726
Creditors: amounts falling due within one year 6 (9,638) (9,559)
Net current assets 19,565 25,167
Total assets less current liabilities 19,566 25,168
Net assets attributable to members 19,566 25,168
Represented by:
Loans and other debts due to members 7 (55,479) (55,481)
Members' other interests
Members' capital classified as equity 155,250 155,250
Other reserves (80,205) (74,601)
75,045 80,649
19,566 25,168
Total members' interests
Loans and other debts due to members 7 (55,479) (55,481)
Members' other interests 75,045 80,649
19,566 25,168
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 November 2023 and signed on their behalf by:
Crispin Comonte
Designated member
Ironbridge Capital Partners 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 13,472
At 31 March 2023 13,472
Depreciation
At 1 April 2022 13,472
At 31 March 2023 13,472
Net book value
At 31 March 2023 -
4 Fixed asset investments
Other
investments
£
Cost
At 1 April 2022 1
At 31 March 2023 1
5 Debtors 2023 2022
£ £
Trade debtors 3,439 5,039
Other debtors (3,784) (3,784)
(345) 1,255
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,475 1,477
Other taxes and social security costs 1,028 947
Other creditors 7,135 7,135
9,638 9,559
7 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt (53,687) (53,689)
Amounts due to members in respect of profits (1,792) (1,792)
(55,479) (55,481)
Amounts falling due within one year (55,479) (55,481)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Ironbridge Capital Partners LLP is a limited liability partnership incorporated in England. Its registered office is:
69 St Marks Road
Henley
RG9 1LP
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