Registration number:
Girona Partners LLP
for the period from 19 May 2022 to 31 May 2023
Girona Partners LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Girona Partners LLP
(Registration number: OC442364)
Balance Sheet as at 31 May 2023
Note |
31 May 2023 |
|
Current assets |
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Cash and short-term deposits |
|
|
Creditors: Amounts falling due within one year |
( |
|
Net liabilities attributable to members |
( |
|
Represented by: |
||
Loans and other debts due to members |
||
Members' capital classified as a liability |
30 |
|
Other amounts |
34,600 |
|
34,630 |
||
Members’ other interests |
||
Other reserves |
( |
|
(5,049) |
||
Total members' interests |
||
Loans and other debts due to members |
34,630 |
|
Equity |
( |
|
(5,049) |
For the year ending 31 May 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
Girona Partners LLP
(Registration number: OC442364)
Balance Sheet as at 31 May 2023 (continued)
The financial statements of Girona Partners LLP (registered number OC442364) were approved by the
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Girona Partners LLP
Statement of Changes in Members’ Interests
At 31 May 2023
Equity |
Loans and other debts due to/(from) members |
|||||
Other reserves |
Total equity |
Members' capital classified as a liability |
Members' other amounts |
Total debt |
Total |
|
Loss for the financial period available for discretionary division among members |
(39,679) |
(39,679) |
- |
- |
- |
(39,679) |
Members’ capital introduced |
- |
- |
30 |
- |
30 |
30 |
Other amounts introduced by members |
- |
- |
- |
34,600 |
34,600 |
34,600 |
At 31 May 2023 |
( |
(39,679) |
30 |
34,600 |
34,630 |
(5,049) |
Girona Partners LLP
Notes to the Financial Statements for the Period from 19 May 2022 to 31 May 2023
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is Suite 1, 7th Floor 50 Broadway, London, SW1H 0DB. The principal activity of the LLP is that of investment management.
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.
The functional currency of Girona Partners LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
Members' remuneration and division of profits
Profits are divided amongst members according to the terms set out in the LLP agreement. Members'
fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members'
balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are
treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members.
Girona Partners LLP
Notes to the Financial Statements for the Period from 19 May 2022 to 31 May 2023 (continued)
1 |
Accounting policies (continued) |
Financial instruments
Classification
The LLP does not trade in financial instruments and all such instruments arise directly from operations.
All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The LLP does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.
The LLP's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings.
Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the LLP only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any time.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the period was
Creditors: Amounts falling due within one year |
31 May 2023 |
|
Trade creditors |
|
Accruals and deferred income |
|
|
Analysis of other amounts |
31 May 2023 |
|
Money advanced to the LLP by the members by way of loan |
34,600 |