Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-012The principal activity of the LLP is to provide investment consultancy servicesfalsefalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC429580 2022-12-01 2023-11-30 OC429580 2021-12-01 2022-11-30 OC429580 2023-11-30 OC429580 2022-11-30 OC429580 c:CurrentFinancialInstruments 2023-11-30 OC429580 c:CurrentFinancialInstruments 2022-11-30 OC429580 c:CurrentFinancialInstruments 2 2023-11-30 OC429580 c:CurrentFinancialInstruments 2 2022-11-30 OC429580 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 OC429580 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 OC429580 e:FRS102 2022-12-01 2023-11-30 OC429580 e:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 OC429580 e:FullAccounts 2022-12-01 2023-11-30 OC429580 e:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 OC429580 e:PartnerLLP1 2022-12-01 2023-11-30 OC429580 e:PartnerLLP2 2022-12-01 2023-11-30 OC429580 c:FurtherSpecificReserve2ComponentTotalEquity 2023-11-30 OC429580 c:FurtherSpecificReserve2ComponentTotalEquity 2022-11-30 OC429580 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: OC429580









CLARK VENTURES LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
CLARK VENTURES LLP
 

INFORMATION



Designated Members
D Clark
L Anderson

LLP registered number
OC429580

Registered office
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ

Accountants
Rawlinson & Hunter LLP
Chartered Accountants
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ


 
CLARK VENTURES LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 7


 
CLARK VENTURES LLP
REGISTERED NUMBER: OC429580

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
261,758
92,765

  
261,758
92,765

Creditors: Amounts Falling Due Within One Year
 5 
(49,498)
(27,900)

Net current assets
  
 
 
212,260
 
 
64,865

Total assets less current liabilities
  
212,260
64,865

  

Net assets
  
212,260
64,865


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Other reserves classified as equity
  
212,260
64,865

  
 
212,260
 
64,865

  
212,260
64,865


Total members' interests
  

Amounts due from members (included in debtors)
 4 
(255,158)
(92,765)

Members' other interests
  
212,260
64,865

  
(42,898)
(27,900)


Page 1

 
CLARK VENTURES LLP
REGISTERED NUMBER: OC429580
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

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




D Clark
Designated member

Date: 20 August 2024

The notes on pages 4 to 7 form part of these financial statements.



Page 2

 
CLARK VENTURES LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 NOVEMBER 2023






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Amounts due from members 

(46,092)
(46,092)


Balance at 1 December 2021 
32,281
32,281
(46,092)
(46,092)
(13,811)

Profit for the year available for discretionary division among members
 
64,865
64,865
-
-
64,865

Members' interests after profit for the year
97,146
97,146
(46,092)
(46,092)
51,054

Allocation of profits
(32,281)
(32,281)
32,281
32,281
-

Amounts withdrawn by members
 
-
-
(78,954)
(78,954)
(78,954)

Amounts due from members
(92,765)
(92,765)

Balance at 30 November 2022
64,865
64,865
(92,765)
(92,765)
(27,900)

Profit for the year available for discretionary division among members
 
212,260
212,260
-
-
212,260

Members' interests after profit for the year
277,125
277,125
(92,765)
(92,765)
184,360

Allocation of profits
(64,865)
(64,865)
64,865
64,865
-

Amounts withdrawn by members
 
-
-
(227,258)
(227,258)
(227,258)

Amounts due from members
(255,158)
(255,158)

Balance at 30 November 2023 
212,260
212,260
(255,158)
(255,158)
(42,898)

The notes on pages 4 to 7 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
CLARK VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Clark Ventures LLP is a limited liability partnership, incorporated in England and Wales with registration number OC429580. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in 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 which assumes that the LLP will continue in operational existence for the forseeable future.The LLP expects the continued support of the members who have confirmed provosion of such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the LLP. 

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
CLARK VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the 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, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

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 of the following conditions are satisfied:
the amount of revenue 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.

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily.

Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the Balance Sheet, pending a discretionary decision to divide the profits.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CLARK VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

  
2.9

Taxation

In accordance with Section 10 of the Limited Liability parntership Act 2000, any trade, profession or business carried on by the LLP is treated as though that business were carried on in partnership by its members. Accordingly, any liability to taxation is that of the members themselves and not of the LLP. Thus there is no provision for taxation in these financial statements.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
6,600
-

Amounts due from members
255,158
92,765

261,758
92,765


Page 6

 
CLARK VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,693
-

Other taxation and social security
23,305
10,000

Accruals and deferred income
9,500
17,900

49,498
27,900


 
Page 7