Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC421561 Mr Lee Oldaker Mrs Keri Oldaker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC421561 2023-03-31 OC421561 2024-03-31 OC421561 2023-04-01 2024-03-31 OC421561 frs-core:CurrentFinancialInstruments 2024-03-31 OC421561 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC421561 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC421561 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC421561 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC421561 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC421561 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC421561 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC421561 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC421561 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC421561 2022-03-31 OC421561 2023-03-31 OC421561 2022-04-01 2023-03-31 OC421561 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC421561
Faithful Alarms LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC421561
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 5,000 5,000
Debtors 5 48,369 67,296
Cash at bank and in hand 60,935 30,867
114,304 103,163
Creditors: Amounts Falling Due Within One Year 6 (96,919 ) (78,818 )
NET CURRENT ASSETS (LIABILITIES) 17,385 24,345
TOTAL ASSETS LESS CURRENT LIABILITIES 17,385 24,345
NET ASSETS ATTRIBUTABLE TO MEMBERS 17,385 24,345
REPRESENTED BY:
Equity
Members' other interests
Members' capital 20,265 30,391
Other reserves (2,880) (6,046)
17,385 24,345
TOTAL MEMBERS' INTEREST
Members' other interests 17,385 24,345
17,385 24,345
Page 1
Page 2
For the year ending 31 March 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 Income Statement.
On behalf of the members
Mr Lee Oldaker
Designated Member
09/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Faithful Alarms LLP is a limited liability partnership, incorporated in England & Wales, registered number OC421561 . The Registered Office is Unit 2 Premier Business Park, Faraday Road, Hereford, HR4 9NZ.
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. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 4 (2023: 4)
4 4
4. Stocks
2024 2023
£ £
Stock 5,000 5,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,710 60,409
Other debtors 6,887 6,887
VAT 2,646 -
Other taxes and social security 126 -
48,369 67,296
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,694 43,907
Other taxes and social security - 6,087
VAT - 2,316
Net wages 866 -
Other creditors 214 1,141
Accruals and deferred income 2,000 1,000
Amounts owed to group undertakings 85,145 24,367
96,919 78,818
Page 4