Registered number
OC413653
Redmere Group LLP
Filleted Accounts
5 April 2024
Redmere Group LLP
Registered number: OC413653
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 746 20,826
Investments 4 770,440 770,440
771,186 791,266
Current assets
Debtors 5 1,296 1,496
Cash at bank and in hand 377 296
1,673 1,792
Creditors: amounts falling due within one year 6 (960) (930)
Net current assets 713 862
Total assets less current liabilities 771,899 792,128
Net assets attributable to members 771,899 792,128
Represented by:
Loans and other debts due to members 7 771,899 792,128
771,899 792,128
Total members' interests
Loans and other debts due to members 7 771,899 792,128
771,899 792,128
For the year ended 5 April 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 22 August 2024 and signed on their behalf by:
Adam Mairs
Designated member
Redmere Group LLP
Notes to the Accounts
for the year ended 5 April 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 6 April 2023 4,283 29,990 34,273
Disposals - (29,990) (29,990)
At 5 April 2024 4,283 - 4,283
Depreciation
At 6 April 2023 2,651 10,796 13,447
Charge for the year 886 - 886
On disposals - (10,796) (10,796)
At 5 April 2024 3,537 - 3,537
Net book value
At 5 April 2024 746 - 746
At 5 April 2023 1,632 19,194 20,826
4 Fixed asset investments
Other
investments
£
Cost
At 6 April 2023 770,440
At 5 April 2024 770,440
5 Debtors 2024 2023
£ £
Trade debtors 135 180
Other debtors 1,161 1,316
1,296 1,496
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 960 930
7 Loans and other debts due to members 2024 2023
£ £
Members capital classified as debt 596,701 596,701
Loans from members 21,335 69,009
Amounts due to members in respect of profits 153,863 126,418
771,899 792,128
Amounts falling due within one year 175,198 195,427
Amounts falling due after more than one year 596,701 596,701
771,899 792,128
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Controlling party
The ultimate controlling party is Mr Adam Mairs.
9 Other information
Redmere Group LLP is a limited liability partnership incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
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