REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Sacre Associates LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
Sacre Associates LLP |
Sacre Associates LLP (Registered number: OC318813) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Sacre Associates LLP |
General Information |
for the Year Ended 30 June 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Grange |
Warren Estate |
Lordship Road |
Writtle |
Essex |
CM1 3WT |
Sacre Associates LLP (Registered number: OC318813) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
7,721,272 |
1,925,960 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
7,280,410 |
1,485,098 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 440,862 | 440,862 |
7,721,272 | 1,925,960 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 7,280,410 | 1,485,098 |
Members' other interests | 440,862 | 440,862 |
7,721,272 | 1,925,960 |
Sacre Associates LLP (Registered number: OC318813) |
Balance Sheet - continued |
30 June 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. |
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 |
Sacre Associates LLP (Registered number: OC318813) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Sacre Associates LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The current period ended 31 March 2023 covers a 9 month period and the comparative information covers a 12 month period, therefore, the figures are not directly comparable. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover represents fees and commission receivable. |
Goodwill |
Goodwill arising on the acquisition of an undertaking is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. |
The goodwill arising on such a transaction is initially recognised at cost. After initial recognition, it is measured using the cost model, which is cost less accumulated amortisation and any accumulated impairment losses. Amortisation is provided evenly over the remaining estimated life of 10 years. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost, less any accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
Plant and machinery etc - 15% reducing balance, 3 years straight line, 10 years straight line |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties. |
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 makes contributions to a group personal pension plan for the benefit of its employees. |
Sacre Associates LLP (Registered number: OC318813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Significant judgements and estimates |
No significant judgements or estimates have been applied in the preparation of the financial statements. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially and subsequently at historic cost, which is not materially different from amortised cost using the effective interest rate method. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
AMORTISATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Sacre Associates LLP (Registered number: OC318813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members (other than members' capital classified as debt) rank below other creditors. |
Sacre Associates LLP (Registered number: OC318813) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | OTHER FINANCIAL COMMITMENTS |
2023 | 2022 |
£ | £ |
At 31 March 2023 the company had annual commitments under non- |
cancellable operating leases as follows: |
Plant and machinery: |
Expiring within 1 year | - | - |
Expiring between 1 and 2 years | 1,821 | 8,876 |
Expiring between 2 and 5 years | 44,945 | 3,418 |
Expiring after 5 years | - | - |
Land and buildings: |
Expiring within 1 year | - | - |
Expiring between 1 and 2 years | - | - |
Expiring between 2 and 5 years | - | - |
Expiring after 5 years | 80,000 | 80,000 |