Acorah Software Products - Accounts Production 15.0.500 false true false 26 August 2022 28 February 2024 28 February 2024 OC443658 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC443658 2022-08-25 OC443658 2024-02-28 OC443658 2022-08-26 2024-02-28 OC443658 frs-core:CurrentFinancialInstruments 2024-02-28 OC443658 frs-bus:LimitedLiabilityPartnershipLLP 2022-08-26 2024-02-28 OC443658 frs-bus:LimitedLiabilityPartnershipsSORP 2022-08-26 2024-02-28 OC443658 frs-bus:FilletedAccounts 2022-08-26 2024-02-28 OC443658 frs-bus:SmallEntities 2022-08-26 2024-02-28 OC443658 frs-bus:AuditExempt-NoAccountantsReport 2022-08-26 2024-02-28 OC443658 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-26 2024-02-28 OC443658 frs-countries:EnglandWales 2022-08-26 2024-02-28 OC443658 frs-bus:PartnerLLP1 2022-08-26 2024-02-28 OC443658 frs-bus:PartnerLLP2 2022-08-26 2024-02-28
Registered number: OC443658
PROPHORIZONS LLP
Financial Statements
For the Period 26 August 2022 to 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3
Page 1
Balance Sheet
Registered number: OC443658
28 February 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 195,062
195,062
CURRENT ASSETS
Cash at bank and in hand 5,208
5,208
Creditors: Amounts Falling Due Within One Year 5 (3,815 )
NET CURRENT ASSETS (LIABILITIES) 1,393
TOTAL ASSETS LESS CURRENT LIABILITIES 196,455
NET ASSETS ATTRIBUTABLE TO MEMBERS 196,455
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 200,270
200,270
Equity
Members' other interests
Other reserves (3,815)
(3,815)
196,455
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 200,270
Members' other interests (3,815)
196,455
Page 1
Page 2
For the period ending 28 February 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 Julian CHIK
Partner
Ms Fanny WAT
Partner
09/08/2024
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PROPHORIZONS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC443658 . The Registered Office is 43 Walson Way, Stansted, Essex, CM24 8GD.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL
-
4. Investment Property
28 February 2024
£
Fair Value
As at 26 August 2022 -
Additions 195,062
As at 28 February 2024 195,062
5. Creditors: Amounts Falling Due Within One Year
28 February 2024
£
Other loans 3,815
Page 3