REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
CRESCENT TRADE FINANCE LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
for |
CRESCENT TRADE FINANCE LLP |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Profit & Loss Account | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
CRESCENT TRADE FINANCE LLP |
General Information |
FOR THE YEAR ENDED 30 JUNE 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
293 Green Lanes |
London |
N13 4XS |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Report of the Members |
FOR THE YEAR ENDED 30 JUNE 2023 |
The members present their report with the financial statements of the LLP for the year ended 30 June 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of acting as an Investment Advisor to Asset Managers and Investment Funds. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
Mr Bulent Reha Karagoz |
Ms Julia Katharina Karagoz |
Mr Burak Emin Sahin |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £468,364 (2022 - £398,140 profit). |
MEMBERS' INTERESTS |
The members of LLP at present have no set time period for repayment of capital. |
ON BEHALF OF THE MEMBERS: |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Profit & Loss Account |
FOR THE YEAR ENDED 30 JUNE 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
TURNOVER |
Distribution costs |
Administrative expenses |
925,148 | 1,018,881 |
263,922 | (656,055 | ) |
Other operating income |
OPERATING PROFIT |
Interest receivable and similar income |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Balance Sheet |
30 JUNE 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,282,565 |
685,305 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
1,282,565 |
685,305 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 1,282,565 | 685,305 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Crescent Trade Finance 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | EXCEPTIONAL ITEMS |
30.6.23 | 30.6.22 |
£ | £ |
Exceptional items | (405,126 | ) | (735,480 | ) |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Loans given |
Bad debt provision | (1,337,217 | ) | (932,090 | ) |
Loan to Bubu Ltd | 729,253 | 292,930 |
CRESCENT TRADE FINANCE LLP (REGISTERED NUMBER: OC393742) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Accruals and deferred income |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event.There are no restrictions or limitations on the ability of the members to reduce the amount of Members' other interests. |