REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
GARO & CO UK LLP |
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
GARO & CO UK LLP |
GARO & CO UK LLP (REGISTERED NUMBER: OC417316) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GARO & CO UK LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
27 Daventry Street |
London |
NW1 6TD |
GARO & CO UK LLP (REGISTERED NUMBER: OC417316) |
Abridged Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
30,271 |
26,587 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
30,251 |
26,567 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 20 | 20 |
30,271 | 26,587 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 30,251 | 26,567 |
Members' other interests | 20 | 20 |
30,271 | 26,587 |
GARO & CO UK LLP (REGISTERED NUMBER: OC417316) |
Abridged Balance Sheet - continued |
31 March 2024 |
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. |
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 |
GARO & CO UK LLP (REGISTERED NUMBER: OC417316) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Garo & Co UK LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Revenue is recognised to the extent that it is probable that economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable excluding discounts, rebates and VAT. |
Rendering of services |
Revenue 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 the following conditions are satisfied: |
(a) the amount of revenue can be measured reliably; |
(b) it is probable that the economic benefits associated with the transaction will flow to the entity; |
(c) the stage of completion of the transaction at the end of the reporting period can be measured reliably; and |
(d) the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
Financial instruments |
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
GARO & CO UK LLP (REGISTERED NUMBER: OC417316) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | SECURED DEBTS |
The bank loan included under creditors is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme (BBLS). |
The bank loan bears interest of 2.5% per annum. |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |