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REGISTERED NUMBER: SO306527 (Scotland)










Unaudited Financial Statements

for the Period 1 November 2022 to 31 March 2024

for

Onyx Assets LLP

Onyx Assets LLP (Registered number: SO306527)






Contents of the Financial Statements
for the Period 1 November 2022 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Onyx Assets LLP

General Information
for the Period 1 November 2022 to 31 March 2024







DESIGNATED MEMBERS: A J Hookway
G E Dutfield





REGISTERED OFFICE: The Melting Pot
15 Calton Road
Edinburgh
EH8 8DL





REGISTERED NUMBER: SO306527 (Scotland)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Onyx Assets LLP (Registered number: SO306527)

Balance Sheet
31 March 2024

2024 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 6,483
Tangible assets 5 632 30,490
632 36,973

CURRENT ASSETS
Debtors 6 223,161 140,740
Cash at bank 10,308 18,773
233,469 159,513
CREDITORS
Amounts falling due within one year 7 (24,375 ) (124,477 )
NET CURRENT ASSETS 209,094 35,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,726

72,009

CREDITORS
Amounts falling due after more than one year 8 (30,522 ) (38,922 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

179,204

33,087

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

179,204

33,087

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 179,204 33,087

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Onyx Assets LLP (Registered number: SO306527)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 July 2024 and were signed by:





A J Hookway - Designated member

Onyx Assets LLP (Registered number: SO306527)

Notes to the Financial Statements
for the Period 1 November 2022 to 31 March 2024

1. STATUTORY INFORMATION

Onyx Assets LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Right of use asset are being amortised evenly over their estimated useful life of three years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Right of
use asset
£   
COST
At 1 November 2022 19,451
Reclassification/transfer (19,451 )
At 31 March 2024 -
AMORTISATION
At 1 November 2022 12,968
Reclassification/transfer (12,968 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 October 2022 6,483

Onyx Assets LLP (Registered number: SO306527)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 1,136 38,996 904 41,036
Disposals - (38,996 ) - (38,996 )
At 31 March 2024 1,136 - 904 2,040
DEPRECIATION
At 1 November 2022 641 9,749 156 10,546
Charge for period 258 - 353 611
Eliminated on disposal - (9,749 ) - (9,749 )
At 31 March 2024 899 - 509 1,408
NET BOOK VALUE
At 31 March 2024 237 - 395 632
At 31 October 2022 495 29,247 748 30,490

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors - 30,740
Other debtors 185,162 110,000
VAT 956 -
Prepayments 37,043 -
223,161 140,740

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 5,374 5,187
Trade creditors 24 5,322
Lease liability < 1year - 8,194
VAT - 3,430
Other creditors 15,352 100,176
Accrued expenses 3,625 2,168
24,375 124,477

Onyx Assets LLP (Registered number: SO306527)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£    £   
Bank loans - 1-2 years 5,510 5,318
Bank loans - 2-5 years 25,012 33,604
30,522 38,922

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2022
£    £   
Amounts owed to members in respect of profits 179,204 33,087

Falling due within one year 179,204 33,087

Loans due to other members rank ahead of other debts in the event of a liquidation.