6 false false false false false false false false false false false false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 97,979 97,978 1 1 xbrli:pure xbrli:shares iso4217:GBP OC308995 2022-09-01 2023-08-31 OC308995 2023-08-31 OC308995 2022-08-31 OC308995 2021-09-01 2022-08-31 OC308995 2022-08-31 OC308995 2021-08-31 OC308995 core:MotorVehicles 2022-09-01 2023-08-31 OC308995 core:NetGoodwill 2022-09-01 2023-08-31 OC308995 bus:Director1 2022-09-01 2023-08-31 OC308995 bus:Director2 2022-09-01 2023-08-31 OC308995 core:WithinOneYear 2023-08-31 OC308995 core:WithinOneYear 2022-08-31 OC308995 core:NetGoodwill 2023-08-31 OC308995 core:LandBuildings 2022-08-31 OC308995 core:MotorVehicles 2022-08-31 OC308995 core:LandBuildings 2023-08-31 OC308995 core:MotorVehicles 2023-08-31 OC308995 core:LandBuildings 2022-09-01 2023-08-31 OC308995 core:BetweenOneFiveYears 2023-08-31 OC308995 core:BetweenOneFiveYears 2022-08-31 OC308995 core:NetGoodwill 2022-08-31 OC308995 core:LandBuildings 2022-08-31 OC308995 core:MotorVehicles 2022-08-31 OC308995 bus:SmallEntities 2022-09-01 2023-08-31 OC308995 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 OC308995 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 OC308995 bus:LimitedLiabilityPartnershipLLP 2022-09-01 2023-08-31 OC308995 bus:FullAccounts 2022-09-01 2023-08-31 OC308995 core:LandBuildings core:LongLeaseholdAssets 2022-09-01 2023-08-31
REGISTERED NUMBER: OC308995
Apollo & Co LLP
Filleted Unaudited Financial Statements
31 August 2023
Apollo & Co LLP
Balance Sheet
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1
1
Tangible assets
6
26,727
34,905
--------
--------
26,728
34,906
Current assets
Debtors
7
229,854
210,959
Cash at bank and in hand
49,035
34,584
---------
---------
278,889
245,543
Creditors: amounts falling due within one year
8
( 304,617)
( 211,500)
---------
---------
Net current (liabilities)/assets
( 25,728)
34,043
--------
--------
Total assets less current liabilities
1,000
68,949
-------
--------
Net assets
1,000
68,949
-------
--------
Represented by:
Loans and other debts due to members
Other amounts
9
67,949
Members' other interests
Members' capital classified as equity
1,000
1,000
Other reserves
-------
--------
1,000
68,949
-------
--------
Total members' interests
Loans and other debts due to members
9
67,949
Members' other interests
1,000
1,000
-------
--------
1,000
68,949
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the profit and loss account has not been delivered.
For the year ending 31 August 2023 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) relating to small LLPs.
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 financial statements .
Apollo & Co LLP
Balance Sheet (continued)
31 August 2023
These financial statements were approved by the members and authorised for issue on 28 August 2024 , and are signed on their behalf by:
Mr U Somaia
Mr K Somaia
Designated Member
Designated Member
Registered number: OC308995
Apollo & Co LLP
Notes to the Financial Statements
Year ended 31 August 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 77 Grand Parade, Green Lanes, London, England, N4 1DX.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rents and management fees receivable during the period and is exclusive of Value Added Tax.
Members' participation rights
Individual members
Members' share of profits are automatically allocated. Members' drawings are set by the Management Board after considering the working capital needs of the business. To the extent the profit allocations exceed drawings, the excess profit is included in the balance sheet under creditors. Where drawings exceed the allocated profits the excess is included in debtors.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the LLP's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
over 4 years on a straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
over the term of lease
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Taxation
Taxation on LLP profits is the personal liability of the members, consequently neither taxation nor related deferred taxation are accounted for in these financial statements.
Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 6 (2022: 6 ).
5.
Intangible assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
97,979
--------
Amortisation
At 1 September 2022 and 31 August 2023
97,978
--------
Carrying amount
At 31 August 2023
1
--------
At 31 August 2022
1
--------
6.
Tangible assets
Leasehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 September 2022
529
118,308
58,970
177,807
Additions
749
749
----
---------
--------
---------
At 31 August 2023
529
118,308
59,719
178,556
----
---------
--------
---------
Depreciation
At 1 September 2022
464
92,561
49,877
142,902
Charge for the year
29
6,437
2,461
8,927
----
---------
--------
---------
At 31 August 2023
493
98,998
52,338
151,829
----
---------
--------
---------
Carrying amount
At 31 August 2023
36
19,310
7,381
26,727
----
---------
--------
---------
At 31 August 2022
65
25,747
9,093
34,905
----
---------
--------
---------
7.
Debtors
2023
2022
£
£
Trade debtors
41,704
42,833
Prepayments and accrued income
43,909
38,220
Other debtors
144,241
129,906
---------
---------
229,854
210,959
---------
---------
Included in other debtors is an amount of £26,518 (2022: £Nil) due to the LLP from members.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
236,059
123,404
Accruals and deferred income
63,757
64,777
Social security and other taxes
530
824
Other creditors
4,271
22,495
---------
---------
304,617
211,500
---------
---------
9.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
67,949
----
--------
Loans and other debts due to members represent allocated profits not yet paid to members and are due within one year. In the event of a winding up, loans and other debts due to members rank equally with unsecured creditors.
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
18,333
38,333
--------
--------