Registered number
OC381540
4B Projects LLP
Filleted Accounts
31 January 2024
4B Projects LLP
Registered number: OC381540
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,477 4,098
Current assets
Debtors 3 282,425 67,487
Cash at bank and in hand 57,816 241,039
340,241 308,526
Creditors: amounts falling due within one year 4 (35,229) (29,222)
Net current assets 305,012 279,304
Total assets less current liabilities 309,489 283,402
Net assets attributable to members 309,489 283,402
Represented by:
Loans and other debts due to members 5 (882,702) (561,055)
Members' other interests
Other reserves 1,192,191 844,457
309,489 283,402
Total members' interests
Loans and other debts due to members 5 (882,702) (561,055)
Members' other interests 1,192,191 844,457
309,489 283,402
For the year ended 31 January 2024 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 29 July 2024 and signed on their behalf by:
Gareth Mitchell
Designated member
4B Projects LLP
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
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:
Office Equipment over 3 years
Motor Vehicles 25% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 4 4
3 Tangible fixed assets
Office Equipment Motor vehicles Total
£ £ £
Cost
At 1 February 2023 9,604 1,500 11,104
Additions 3,186 - 3,186
Revaluation -
Disposals - - -
At 31 January 2024 12,790 1,500 14,290
Depreciation
At 1 February 2023 5,740 1,266 7,006
Charge for the year 2,748 59 2,807
Revaluation -
On disposals - - -
At 31 January 2024 8,488 1,325 9,813
Net book value
At 31 January 2024 4,302 175 4,477
At 31 January 2023 3,864 234 4,098
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