Brandopus Group Services LLP
Annual Report and Unaudited Financial Statements
For the year ended 30 April 2023
Pages for Filing with Registrar
Limited Liability Partnership Registration No. OC324120 (England and Wales)
BrandOpus Group Services LLP
Brandopus Group Services LLP
Limited Liability Partnership Information
Designated members
N Wegrzyn
P Taylor
L Willmott
Limited liability partnership number
OC324120
Registered office
The Gatehouse
5 Chapel Place
Rivington Street
London
England
EC2A 3SB
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
The Gatehouse
5 Chapel Place
Rivington Street
London
England
EC2A 3SB
Brandopus Group Services LLP
Contents
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 8
BrandOpus Group Services LLP
Brandopus Group Services LLP
Balance Sheet
As at 30 April 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
-
-
Tangible assets
3
-
22,799
Current assets
Debtors
4
495,584
854,574
Cash and cash equivalents
42,446
80,143
538,030
934,717
Creditors: amounts falling due within one year
5
(42,557)
(121,218)
Net current assets
495,473
813,499
Total assets less current liabilities
495,473
836,298
Creditors: amounts falling due after more than one year
6
(9,223)
(46,352)
Net assets attributable to members
486,250
789,946
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
-
303,696
Members' other interests
Members' capital classified as equity
486,250
486,250
486,250
789,946
Total members' interests
Amounts due from members
(493,405)
(847,913)
Loans and other debts due to members
-
303,696
Members' other interests
486,250
486,250
(7,155)
(57,967)

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

BrandOpus Group Services LLP
Brandopus Group Services LLP
Balance Sheet (Continued)
As at 30 April 2023
Page 2

For the financial year ended 30 April 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 31 January 2024 and are signed on their behalf by:
L Willmott
Designated member
Limited Liability Partnership Registration No. OC324120
BrandOpus Group Services LLP
Brandopus Group Services LLP
Reconciliation of Members' Interests
For the year ended 30 April 2021
Page 3
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2023
£
£
£
£
£
£
Amounts due to members
303,696
Amounts due from members
(847,913)
Members' interests at 1 May 2022
486,250
-
486,250
(544,217)
(544,217)
(57,967)
Loss for the financial year available for discretionary division among members
-
(33,441)
(33,441)
-
-
(33,441)
Members' interests after loss for the year
486,250
(33,441)
452,809
(544,217)
(544,217)
(91,408)
Allocation of loss for the financial year
-
33,441
33,441
(33,441)
(33,441)
-
Drawings
-
-
-
84,253
84,253
84,253
Members' interests at 30 April 2023
486,250
-
486,250
(493,405)
(493,405)
(7,155)
Amounts due from members, included in debtors
(493,405)
(493,405)
BrandOpus Group Services LLP
Brandopus Group Services LLP
Reconciliation of Members' Interests (Continued)
For the year ended 30 April 2021
Page 4
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total
2022
£
£
£
£
£
£
Amounts due to members
242,254
Amounts due from members
(842,103)
Members' interests at 1 May 2021
486,250
-
486,250
(599,849)
(599,849)
(113,599)
Loss for the financial year available for discretionary division among members
-
(40,236)
(40,236)
-
-
(40,236)
Members' interests after loss for the year
486,250
(40,236)
446,014
(599,849)
(599,849)
(153,835)
Allocation of loss for the financial year
-
40,236
40,236
(40,236)
(40,236)
-
Drawings
-
-
-
95,868
95,868
95,868
Members' interests at 30 April 2022
486,250
-
486,250
(544,217)
(544,217)
(57,967)
Amounts due to members
303,696
Amounts due from members, included in debtors
(847,913)
(544,217)
Brandopus Group Services LLP
Notes to the Financial Statements
For the year ended 30 April 2023
Page 5
1
Accounting policies
Limited liability partnership information

BrandOpus Group Services LLP is a limited liability partnership incorporated in England and Wales. The registered office is The Gatehouse, 5 Chapel Place, Rivington Street, London, England, EC2A 3SB.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

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 2021, 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

Brandopus Group Services LLP
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
1
Accounting policies
(Continued)
Page 6
1.4
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:

Motor vehicles
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.

1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Retirement benefits and post retirement payments to members

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

Brandopus Group Services LLP
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
1
Accounting policies
(Continued)
Page 7
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.10
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Employees

The average number of persons (including members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
7
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
72,955
Disposals
(72,955)
At 30 April 2023
-
Depreciation and impairment
At 1 May 2022
50,156
Depreciation charged in the year
15,199
Eliminated in respect of disposals
(65,355)
At 30 April 2023
-
Carrying amount
At 30 April 2023
-
At 30 April 2022
22,799
Brandopus Group Services LLP
Notes to the Financial Statements (Continued)
For the year ended 30 April 2023
Page 8
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by members
493,405
847,913
Prepayments and accrued income
2,179
6,661
495,584
854,574
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
34,628
93,487
Taxation and social security
7,929
7,929
Other creditors
-
19,802
42,557
121,218
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,223
44,288
Other creditors
-
2,064
9,223
46,352

 

7
Parent company

There is no ultimate controlling party. The limited liability partnership is controlled by its members.

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