Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3112023-01-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC339929 2022-12-31 OC339929 2023-01-01 2023-12-31 OC339929 2022-01-01 2022-12-31 OC339929 2023-12-31 OC339929 c:Micro-entities 2023-01-01 2023-12-31 OC339929 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC339929 c:FullAccounts 2023-01-01 2023-12-31 OC339929 c:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC339929 c:PartnerLLP1 2023-01-01 2023-12-31 OC339929 c:PartnerLLP2 2023-01-01 2023-12-31 OC339929 c:PartnerLLP3 2023-01-01 2023-12-31 OC339929 d:PoundSterling 2023-01-01 2023-12-31 xbrli:pure

Registered number: OC339929









FAROS NI (UK) 1 LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FAROS NI (UK) 1 LLP
 

INFORMATION




Designated Members
Jaime Guillen
Kelcour Holdings LLC

Member
Faros Northern Ireland 3 LLC

 
FAROS NI (UK) 1 LLP
 

CONTENTS



Page
Balance sheet
 
 
1 - 2
Notes to the financial statements
 
 
3 - 4


 
FAROS NI (UK) 1 LLP
REGISTERED NUMBER: OC339929

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
896
833

  
896
833

Creditors: Amounts Falling Due Within One Year
  
(1,980)
(1,980)

Net current liabilities
  
 
 
(1,084)
 
 
(1,147)

Total assets less current liabilities
  
(1,084)
(1,147)

  

Net liabilities
  
(1,084)
(1,147)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
(1,384)
(1,447)

  
(1,384)
(1,447)

Members' other interests
  

Members' capital classified as equity
  
300
300

  
 
300
 
300

  
(1,084)
(1,147)


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

Page 1

 
FAROS NI (UK) 1 LLP
REGISTERED NUMBER: OC339929
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
Jaime Guillen
Designated member

Date: 16 August 2024

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
FAROS NI (UK) 1 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General Information

Faros NI (UK) 1 LLP is a limited liability partnership incorporated in the United Kingdom. The registered office is 40 Craven Street, London, WC2N 5NG. 
The principal activity of the company during the year under review was that of provision of advisory and management consultancy services.


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 Financial Reporting Standard 105 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. For this reason the LLP continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Revenue

Turnover comprises revenue recognised by the LLP in respect of business management and advisory services supplied during the year.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 3

 
FAROS NI (UK) 1 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2023
        2022
            No.
            No.







Members
1
1

 
Page 4