Ryderson LLP
Registered number: OC352127
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 725,000 725,000
Current assets
Debtors 4 8,659 27,915
Cash at bank and in hand 25,519 17,187
34,178 45,102
Creditors: amounts falling due within one year 5 (226,403) (237,800)
Net current liabilities (192,225) (192,698)
Total assets less current liabilities 532,775 532,302
Net assets attributable to members 532,775 532,302
Represented by:
Members' other interests
Members' capital classified as equity 2 2
Revaluation reserve 359,883 359,883
Other reserves 172,890 172,417
532,775 532,302
532,775 532,302
Total members' interests
Members' other interests 532,775 532,302
532,775 532,302
For the year ended 31 July 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 17 April 2024 and signed on their behalf by:
M Van de Vyver
Designated member
Ryderson LLP
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings NIL
During the year, the property was revalued by M Van de Vyver at fair value (market value).
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 1 1
3 Tangible fixed assets
Land and buildings
£
Fair value
At 1 August 2022 725,000
At 31 July 2023 725,000
Depreciation
At 31 July 2023 -
Fair value
At 31 July 2023 725,000
At 31 July 2022 725,000
4 Debtors 2023 2022
£ £
Trade debtors 8,194 27,450
Prepayments 465 465
8,659 27,915
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,613 4,277
Other taxes and social security costs 5,687 8,118
Accruals and deferred income 19,755 23,505
Tenant deposit 10,400 17,900
Other creditors 177,948 184,000
226,403 237,800
6 Fair value reserve 2023 2022
£ £
At 1 August 2022 359,883 359,883
At 31 July 2023 359,883 359,883
7 Other information
Ryderson LLP is a limited liability partnership incorporated in England. Its registered office is:
Unit 11 Commodore House
Juniper Drive
London
SW18 1TW
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