Limited Liability Partnership Registration No. OC403877 (England and Wales)
COL TESTER LLP
ANNUAL REPORT AND  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
COL TESTER LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
COL TESTER LLP
BALANCE SHEET
AS AT 31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,684,228
10,038,199
Current assets
Debtors
4
-
50,317
Cash at bank and in hand
10,083
52,944
10,083
103,261
Creditors: amounts falling due within one year
5
(196,004)
(114,384)
Net current liabilities
(185,921)
(11,123)
Total assets less current liabilities
15,498,307
10,027,076
Creditors: amounts falling due after more than one year
6
(5,530,001)
(5,440,617)
Net assets attributable to members
9,968,306
4,586,459
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
9,968,306
4,586,459
Total members' interests
Loans and other debts due to members
9,968,306
4,586,459

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 January 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

COL TESTER LLP
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved by the members and authorised for issue on 1 August 2024 and are signed on their behalf by:
01 August 2024
T Fleming
Designated member
Limited Liability Partnership Registration No. OC403877
COL TESTER LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Limited liability partnership information

COL Tester LLP is a limited liability partnership domiciled and incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Fixtures and fittings
25% Reducing balance
Computers
33.33% Straight line

Freehold land and assets in the course of construction are not depreciated.

COL TESTER LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was :

2023
2022
Number
Number
-
0
-
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2022
9,994,784
73,413
10,068,197
Additions
81,678
2,416
84,094
Revaluation
5,573,538
-
5,573,538
At 31 January 2023
15,650,000
75,829
15,725,829
Depreciation and impairment
At 1 February 2022
-
29,998
29,998
Depreciation charged in the year
-
11,603
11,603
At 31 January 2023
-
41,601
41,601
Carrying amount
At 31 January 2023
15,650,000
34,228
15,684,228
At 31 January 2022
9,994,784
43,415
10,038,199
COL TESTER LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
50,317
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,956
-
Taxation and social security
144,837
109,127
Other creditors
44,211
5,257
196,004
114,384
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
5,530,001
5,440,617
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