Just Begun LLP Filleted Accounts Cover |
Registered No. OC426119 | |||||||||
Just Begun LLP Balance Sheet Registrar |
at | ||||||||||
Registered No. | Notes | 2024 | 2023 | |||||||
£ | £ | |||||||||
Current assets | ||||||||||
Debtors | 4 | 4,500 | - | |||||||
Cash at bank and in hand | 5,117 | 10,276 | ||||||||
9,617 | 10,276 | |||||||||
Creditors: Amounts falling due within one year | 5 | (1,968) | (1,872) | |||||||
Net current assets | 7,649 | 8,404 | ||||||||
Total assets less current liabilities | 7,649 | 8,404 | ||||||||
Net assets attributable to members | 7,649 | 8,404 | ||||||||
Represented by: | ||||||||||
Members' other interests | ||||||||||
Other reserves | 7,649 | 8,404 | ||||||||
7,649 | 8,404 | |||||||||
7,649 | 8,404 | |||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the members on 04 August 2024 and signed on its behalf by: | ||||||||||
S. Bignall | ||||||||||
Designated member | ||||||||||
04 August 2024 |
Just Begun LLP Notes to the Accounts Registrar |
for the year ended 31 March 2024 | ||||||||||||||||
1 | General information | |||||||||||||||
Just Begun LLP is a limited liability partnership and incorporated in England and Wales. | ||||||||||||||||
Its registered number is: OC426119 | ||||||||||||||||
Its registered office is: | Its trading address is: | |||||||||||||||
Pen Mill | ||||||||||||||||
Coombe Strret | ||||||||||||||||
Pen Selwood | ||||||||||||||||
Wincanton | ||||||||||||||||
BA9 8NF | ||||||||||||||||
2 | Accounting policies |
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 and division of profits | ||||||||||||||||
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account. In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged 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'. | ||||||||||||||||
Research and development costs | ||||||||||||||||
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line. | ||||||||||||||||
Trade and other debtors | ||||||||||||||||
Trade and other creditors | ||||||||||||||||
3 | Employees | |||||||||||||||
2024 | 2023 | |||||||||||||||
Number | Number | |||||||||||||||
The average number of persons employed during the year was: | ||||||||||||||||
4 | Debtors | |||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Trade debtors | ||||||||||||||||
5 | Creditors: | |||||||||||||||
amounts falling due within one year | ||||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Bank loans and overdrafts | ||||||||||||||||
Accruals and deferred income | ||||||||||||||||