Registered number
OC422411
ADEM MELISA LLP
Filleted Accounts
31 March 2024
ADEM MELISA LLP
Registered number: OC422411
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,408,417 1,408,417
Current assets
Debtors 4 72,106 (28,139)
Cash at bank and in hand 80,388 153,341
152,494 125,202
Creditors: amounts falling due within one year 5 (133,250) (9,386)
Net current assets 19,244 115,816
Total assets less current liabilities 1,427,661 1,524,233
Creditors: amounts falling due after more than one year 6 (1,381,084) (1,446,404)
Net assets attributable to members 46,577 77,829
Represented by:
Loans and other debts due to members 7 (11,574) (3,555)
Members' other interests
Other reserves 58,151 81,384
46,577 77,829
Total members' interests
Loans and other debts due to members 7 (11,574) (3,555)
Members' other interests 58,151 81,384
46,577 77,829
For the period ended 31 March 2024 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 7 August 2024 and signed on their behalf by:
Ms Ozlem Gunay
Designated member
ADEM MELISA LLP
Notes to the Accounts
for the period from 1 June 2023 to 31 March 2024
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 1,408,417
At 31 March 2024 1,408,417
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 1,408,417
At 31 May 2023 1,408,417
4 Debtors 2024 2023
£ £
Trade debtors (14,944) (50,750)
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest 71,054 -
Other debtors 15,996 22,611
72,106 (28,139)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 65,810 -
Trade creditors 62,662 5,205
Other taxes and social security costs 628 1,081
Other creditors 4,150 3,100
133,250 9,386
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,086,013 1,136,848
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest 204,056 199,556
Other creditors 91,015 110,000
1,381,084 1,446,404
7 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits (11,574) (3,555)
Amounts falling due within one year (11,574) (3,555)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
ADEM MELISA LLP is a limited liability partnership incorporated in England. Its registered office is:
18 Wenworth Gardens
London
N13 5SN
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