REGISTERED NUMBER: |
Earlymarket LLP |
Unaudited Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
REGISTERED NUMBER: |
Earlymarket LLP |
Unaudited Financial Statements |
for the Period 1 October 2022 to 31 March 2024 |
Earlymarket LLP (Registered number: OC388082) |
Contents of the Financial Statements |
for the period 1 October 2022 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Earlymarket LLP |
General Information |
for the period 1 October 2022 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants and Chartered Tax Advisers |
Stowupland |
Stowmarket |
Suffolk |
IP14 4AX |
Earlymarket LLP (Registered number: OC388082) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 | 49 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,622,999 |
3,590,948 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 3,622,999 | 3,590,948 |
3,622,999 | 3,590,948 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 3,622,999 | 3,590,948 |
Amounts due from members | 5 | (3,577,796 | ) | (2,247,530 | ) |
45,203 | 1,343,418 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
Earlymarket LLP (Registered number: OC388082) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Earlymarket LLP (Registered number: OC388082) |
Notes to the Financial Statements |
for the period 1 October 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Earlymarket LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
Taxation |
Tax payable on the profits arising in the LLP are a personal tax liability of the members of the LLP and therefore are not included as a tax charge or provision within these financial statements. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
undertakings |
£ |
COST |
At 1 October 2022 | 49 |
Disposals | (49 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 | 49 |
Earlymarket LLP (Registered number: OC388082) |
Notes to the Financial Statements - continued |
for the period 1 October 2022 to 31 March 2024 |
5. | DEBTORS |
2024 | 2022 |
£ | £ |
Amounts falling due within one year: |
Amounts due from members | 3,577,796 | 2,247,530 |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by associates |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Earlymarket LLP (Registered number: OC388082) |
Notes to the Financial Statements - continued |
for the period 1 October 2022 to 31 March 2024 |
7. | RELATED PARTY DISCLOSURES |
During the year the LLP had the following related party transactions: |
2024 | 2022 |
Helipaddy Limited |
Balance as at 1 October | 73,007 | (138,124 | ) |
Purchased goods /services to be recharged to the entity | 203 | 180,939 |
Recharged | (203 | ) | (180,939 | ) |
Payments made to, or on behalf of, the entity | (19,375 | ) | 211,131 |
Balance as at 31 March | 53,632 | 73,007 |
Helipaddy Limited is a company in which the Members of Earlymarket LLP have a controlling interest. |
2024 | 2022 |
Get Heli Limited (Associated company) |
Balance as at 1 October | 1,195,711 | 839,727 |
Purchased goods /services to be recharged | 1,360 | 130,425 |
Recharged | (1,360 | ) | (130,425 | ) |
Payments made to, or on behalf of, the entity | 138,920 | 355,984 |
Amounts written off | (1,334,631 | ) | - |
Balance as at 31 March | - | 1,195,711 |
On 21st March 2024 the members of Get Heli Limited resolved that the company be wound up voluntarily and a liquidator be appointed. The members of Earlymarket LLP therefore consider that the loan is no longer recoverable and have written this off. The value of the investments as shown in note 9 has also been written down to £nil. |