Caseware UK (AP4) 2023.0.135 2023.0.135 false0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-24falseNo description of principal activity1false OC442814 2022-06-23 OC442814 2022-06-24 2023-06-30 OC442814 1 2022-06-24 2023-06-30 OC442814 2021-06-24 2022-06-23 OC442814 2023-06-30 OC442814 c:CurrentFinancialInstruments 2023-06-30 OC442814 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC442814 d:FRS102 2022-06-24 2023-06-30 OC442814 d:AuditExemptWithAccountantsReport 2022-06-24 2023-06-30 OC442814 d:FullAccounts 2022-06-24 2023-06-30 OC442814 d:LimitedLiabilityPartnershipLLP 2022-06-24 2023-06-30 OC442814 d:PartnerLLP1 2022-06-24 2023-06-30 OC442814 d:PartnerLLP2 2022-06-24 2023-06-30 OC442814 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-06-30 OC442814 e:PoundSterling 2022-06-24 2023-06-30 iso4217:GBP xbrli:pure


















Skylar Energy Advisers LLP























Unaudited

Financial statements



For the period ended 30 June 2023



Registered number: OC442814

 
Skylar Energy Advisers LLP
 


Information




Designated Members

Nathan John Arentz (appointed 24 June 2022)
Skylar Energy Ltd (appointed 24 June 2022)

LLP registered number

OC442814

Registered office

C/O Buzzacott LLP130 Wood StreetLondonEC2V 6DL

Accountants

Buzzacott LLP130 Wood StreetLondonEC2V 6DL


 
Skylar Energy Advisers LLP
 


Contents



Page
Members' report
1
Accountant's report
2
Statement of comprehensive income
3
Balance sheet
4 - 5
Reconciliation of members' interests
6
Notes to the financial statements
7 - 10


 
Skylar Energy Advisers LLP
 


Members' Report
For the period ended 30 June 2023

The members present their annual report together with the financial statements of Skylar Energy Advisers LLP (the "LLP") for the period from 24 June 2022 to 30 June 2023
 

Principal activities
 
 
The LLP was incorporated on 24 June 2022 and commenced trading on that date.
 
 
The principal activity of the LLP is to provide fund management advisory services to Skylar Capital Energy Global Master Fund LP, a related entity based in the Cayman Islands. 
 
 
Designated Members
 
 
Nathan John Arentz and Skylar Energy Ltd were designated members of the LLP throughout the period.
 

 
Members' capital and interests
 
 
Each member's subscription to the capital of the LLP is repayable following retirement from the LLP.
 
 
Details of changes in members' capital in the period from 24 June 2022 to 30 June 2023 are set out in the Reconciliation of members' interests.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members are permitted to make drawings in anticipation of profits which will be allocated to them.
 

This report was approved by the members on 31 July 2024 and signed on their behalf by:
 
 


Nathan John Arentz
Designated member


Page 1

 
Skylar Energy Advisers LLP
 

  
Chartered Accountants' Report to the Members on the preparation of the Unaudited Statutory Financial Statements of Skylar Energy Advisers LLP for the period ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Skylar Energy Advisers LLP for the period ended 30 June which comprise the Statement of comprehensive income, the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 3 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Skylar Energy Advisers LLP  and state those matters that we have agreed to state to the Skylar Energy Advisers LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skylar Energy Advisers LLP and its members for our work or for this report. 

It is your duty to ensure that Skylar Energy Advisers LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Skylar Energy Advisers LLP. You consider that Skylar Energy Advisers LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Skylar Energy Advisers LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Buzzacott LLP
 
130 Wood Street
London
EC2V 6DL
31 July 2024
Page 2

 
Skylar Energy Advisers LLP
 


Statement of Comprehensive Income
For the period ended 30 June 2023

Period from 24 June 2022 to 30 June 2023
Note
£

  

Turnover
  
636,728

Gross profit
  
 
636,728

Administrative expenses
  
(260,729)

Operating profit
  
 
375,999

Profit for the period before members' remuneration and profit shares available for discretionary division among members
  
 
375,999

There were no recognised gains and losses for the Period from 24 June 2022 to 30 June 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for the Period from 24 June 2022 to 30 June 2023.

The notes on pages 7 to 10 form part of these financial statements.

Page 3

 
Skylar Energy Advisers LLP - Registered number:OC442814


Balance Sheet
As at 30 June 2023

30 June 2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
498,365

Cash at bank and in hand
 5 
75,505

  
573,870

Creditors: Amounts Falling Due Within One Year
 6 
(698,634)

Net current liabilities
  
 
 
(124,764)

Total assets less current liabilities
  
(124,764)

  

Net liabilities
  
(124,764)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
(124,765)

Members' other interests
  

Members' capital classified as equity
  
1

  
 
1

  
(124,764)


Total members' interests
  

Loans and other debts due to members
  
(124,765)

Members' other interests
  
1

  
(124,764)


Page 4

 
Skylar Energy Advisers LLP - Registered number:OC442814


Balance Sheet (continued)
As at 30 June 2023

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 31 July 2024.




Nathan John Arentz
Designated member

The notes on pages 7 to 10 form part of these financial statements.

Page 5

 
Skylar Energy Advisers LLP
 


Reconciliation of Members' Interests
For the period ended 30 June 2023







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Balance at 23 June 2022
-
-
-
-
-
-

Profit for the period available for discretionary division among members
 
-
375,999
375,999
-
-
375,999

Members' interests after profit for the period
-
375,999
375,999
-
-
375,999

Other division of profits
-
(375,999)
(375,999)
375,999
375,999
-

Amounts introduced by members
1
-
1
-
-
1

Drawings on account and distribution of profit
-
-
-
(500,764)
(500,764)
(500,764)

Amounts due to members
 



(124,765)
(124,765)


Balance at 30 June 2023 
1
-
1
(124,765)
(124,765)
(124,764)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 6

 
Skylar Energy Advisers LLP
 
 

Notes to the Financial Statements
For the period ended 30 June 2023

1.


General information

The LLP is registered in England and Wales and its registered number is OC442814. The registered office address is C/O Buzzacott LLP, 130 Wood Street, London, United Kingdom, EC2V 6DLT and principal place of business is Suite 1, Lower Ground Floor, One George Yard, London, ECV3 9DF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Going concern

The LLP has assessed the going concern of the company 12 months from the date of signing the accounts and has reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 7

 
Skylar Energy Advisers LLP
 

Notes to the Financial Statements
For the period ended 30 June 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Statement of comprehensive income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.



Page 8

 
Skylar Energy Advisers LLP
 

Notes to the Financial Statements
For the period ended 30 June 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including members, during the period was 1.


4.


Debtors

30 June 2023
£


Amounts owed by group undertakings
481,691

Other debtors
14,574

Prepayments and accrued income
2,100

498,365



5.


Cash and cash equivalents

30 June 2023
£

Cash at bank and in hand
75,505

75,505


Page 9

 
Skylar Energy Advisers LLP
 
 

Notes to the Financial Statements
For the period ended 30 June 2023

6.


Creditors: Amounts falling due within one year

30 June 2023
£

Amounts owed to group undertakings
647,553

Other taxation and social security
20,355

Other creditors
22,326

Accruals and deferred income
8,400

698,634



7.


Loans and other debts due to members


30 June 2023
£



Other amounts due to members
(124,765)

(124,765)

Loans and other debts due to members may be further analysed as follows:

30 June 2023
£



Falling due within one year
(124,765)

(124,765)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


8.


Controlling party

The immediate parent undertaking of the LLP is Skylar Energy Ltd, a company incorporated in England and Wales and with the registered office address C/O Buzzacott LLP, 130 Wood Street, London, United Kingdom, EC2V 6DL, by virtue of being the controlling corporate member of the LLP.

Page 10