1 November 2022 false Taxfiler 2024.4 true OC419521business:LimitedLiabilityPartnershipLLP2022-11-012023-10-31 OC4195212022-10-31 OC4195212022-11-012023-10-31 OC419521business:AuditExempt-NoAccountantsReport2022-11-012023-10-31 OC419521business:FullAccounts2022-11-012023-10-31 OC4195212023-10-31 OC419521business:PartnerLLP12022-11-012023-10-31 OC419521business:PartnerLLP22022-11-012023-10-31 OC419521business:RegisteredOffice2022-11-012023-10-31 OC4195212022-10-31 OC419521core:WithinOneYear2023-10-31 OC419521core:WithinOneYear2022-10-31 OC419521core:ShareCapital2023-10-31 OC419521core:ShareCapital2022-10-31 OC419521core:RetainedEarningsAccumulatedLosses2023-10-31 OC419521core:RetainedEarningsAccumulatedLosses2022-10-31 OC419521business:SmallEntities2022-11-012023-10-31 OC419521countries:EnglandWales2022-11-012023-10-31 OC4195212021-11-012022-10-31 iso4217:GBP xbrli:pure
Registered No. OC419521 (England and Wales)
Circular3 Llp Unaudited accounts for the year ended 31 October 2023
Circular3 Llp LLP Information for the year ended 31 October 2023
Designated members
Mr Patrick Ogunmuyiwa
Sustained Consulting Ltd
Registered Number
OC419521 (England and Wales)
Registered Office
86-90 Paul Street London London EC2A 4NE United Kingdom
- 2 -
Circular3 Llp Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
40,980 
51,095 
Cash at bank and in hand
2,129 
4,106 
43,109 
55,201 
Creditors: amounts falling due within one year
(7,554)
354 
Net current assets
35,555 
55,555 
Total assets less current liabilities
35,555 
55,555 
Provisions for liabilities
(16,117)
- 
Net assets attributable to members
19,438 
55,555 
Represented by:
Loans and other debts due to members
19,085 
24,146 
Members' other interests
Members' capital classified as equity
100 
1 
Other reserves
253 
31,408 
353 
31,409 
19,438 
55,555 
Total members' interests
Loans and other debts due to members
19,085 
24,146 
Members' other interests
353 
31,409 
19,438 
55,555 
For the year ending 31 October 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 28 July 2024.
Mr Patrick Ogunmuyiwa Designated member Limited Liability Partnership Registration No. OC419521
- 3 -
Circular3 Llp Notes to the Accounts for the year ended 31 October 2023
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Going concern
Having given due consideration to the prospects of the partnership the Partners are of the view that it is appropriate to prepare the financial statements on a going concern basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other amounts paid to members are also included within members' remuneration treated as an expense. Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Pension costs
The LLP operates a defined contribution scheme for the benefit of its employees and members. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
2
Statutory information
Circular3 Llp is a limited liability partnership, incorporated in England and Wales, registration number OC419521. Its registered office is 86-90 Paul Street, , London, London, EC2A 4NE, United Kingdom.
- 4 -
Circular3 Llp Notes to the Accounts for the year ended 31 October 2023
3
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
6,899 
6,899 
Taxes and social security costs
655 
(7,253)
7,554 
(354)
4
Loans and other debts due to members
2023 
2022 
£ 
£ 
Members' capital classified as a liability
101 
13,929 
Amounts due to members in respect of profits
18,984 
10,217 
19,085 
24,146 
Amounts falling due within one year
19,085 
24,146 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
5
Controlling party
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member: Sustained Consulting Ltd The parent's registered office address is: 86-90 Paul Street, London, EC2A 4NE
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 5 -