Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC304788 Mr Martyn Carter Mr Nicholas Carter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC304788 2023-03-31 OC304788 2024-03-31 OC304788 2023-04-01 2024-03-31 OC304788 frs-core:CurrentFinancialInstruments 2024-03-31 OC304788 frs-core:ComputerEquipment 2024-03-31 OC304788 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC304788 frs-core:ComputerEquipment 2023-03-31 OC304788 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC304788 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC304788 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC304788 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC304788 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC304788 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC304788 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC304788 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC304788 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC304788 2022-03-31 OC304788 2023-03-31 OC304788 2022-04-01 2023-03-31 OC304788 frs-core:CurrentFinancialInstruments 2023-03-31 OC304788 frs-core:OtherReservesSubtotal 2022-03-31
Registered number: OC304788
Laundryquip LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Brook & Co Accountants - Brackley
Contents
Page
Balance Sheet 1—2
Reconciliation of Members' Interests 3—4
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: OC304788
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 286 337
286 337
CURRENT ASSETS
Stocks 4 32,000 15,000
Debtors 5 292,991 536,316
Cash at bank and in hand 541,102 470,506
866,093 1,021,822
Creditors: Amounts Falling Due Within One Year 6 (184,621 ) (471,427 )
NET CURRENT ASSETS (LIABILITIES) 681,472 550,395
TOTAL ASSETS LESS CURRENT LIABILITIES 681,758 550,732
NET ASSETS ATTRIBUTABLE TO MEMBERS 681,758 550,732
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 681,758 550,732
681,758 550,732
681,758 550,732
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 681,758 550,732
681,758 550,732
Page 1
Page 2
For the year ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Martyn Carter
Designated Member
18/07/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Other Reserves Other amounts Total members' interest
£ £ £
Amounts due to members - 473,840 -
Balance at 1 April 2022 - 473,840 473,840
Profit/(loss) for the financial year available for discretionary division among members 171,662 - 171,662
Members' interests after profit/(loss) for the year 171,662 473,840 645,502
Other divisions of profits (losses) (171,662) 171,662 -
Drawings - (94,770) (94,770)
Amounts due to members - 550,732 -
As at 31 March 2023 and 1 April 2023 - 550,732 550,732
Profit/(loss) for the financial year available for discretionary division among members 167,353 - 167,353
Members' interests after profit/(loss) for the year 167,353 550,732 718,085
Other divisions of profits (losses) (167,353) 167,353 -
Drawings - (36,327) (36,327)
Amounts due to members - 681,758 -
As at 31 March 2024 - 681,758 681,758
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 15 % on reducing balance
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 4
Page 5
2. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
3. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 2,440
As at 31 March 2024 2,440
Depreciation
As at 1 April 2023 2,103
Provided during the period 51
As at 31 March 2024 2,154
Net Book Value
As at 31 March 2024 286
As at 1 April 2023 337
4. Stocks
2024 2023
£ £
Stock 32,000 15,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 292,991 366,316
Other debtors - 170,000
292,991 536,316
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 66,318 439,978
Other creditors 66,602 8,513
Taxation and social security 51,701 22,936
184,621 471,427
Page 5