Registered number
OC300911
Equitis Group of Companies LLP
Unaudited Filleted Accounts
31 October 2023
Equitis Group of Companies LLP
Registered number: OC300911
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand - 14,992
Creditors: amounts falling due within one year 2 (14,860) (22,588)
Net current liabilities (14,860) (7,596)
Total assets less current liabilities (14,860) (7,596)
Net liabilities attributable to members (14,860) (7,596)
Represented by:
Loans and other debts due to members 3 (14,860) (7,597)
(14,860) (7,597)
Total members' interests
Loans and other debts due to members 3 (14,860) (7,597)
(14,860) (7,597)
Number Number
Average number of employees - -
For the year ended 31 October 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 15 July 2024 and signed on their behalf by:
Mr Nigel Mehdi
Designated member
Equitis Group of Companies 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.
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.
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 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 14,860 22,588
3 Loans and other debts due to members 2023 2022
£ £
Amounts due to/(from) members in respect of profits (14,860) (7,597)
Amounts falling due within one year (14,860) (7,597)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
4 Other information
Equitis Group of Companies LLP is a limited liability partnership incorporated in England. Its registered office is:
71-75 Shelton Street
London
WC2H 9JQ
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