REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
RORO AVIATION LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
RORO AVIATION LLP |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Contents of the Financial Statements |
for the year ended 30 November 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 6 |
RORO AVIATION LLP |
General Information |
for the year ended 30 November 2023 |
Designated members: |
Ms B Byrne |
Registered office: |
Registered number: |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Report of the Members |
for the year ended 30 November 2023 |
The members present their report with the financial statements of the LLP for the year ended 30 November 2023. |
Principal activity |
The principal activity of the LLP in the year under review was that of air charter services. |
Designated members |
The designated members during the year under review were: |
Ms B Byrne |
Results for the year and allocation to members |
The profit for the year before members' remuneration and profit shares was £1,803 (2022 - £18,558 loss). |
Members' interests |
On behalf of the members: |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Income Statement |
for the year ended 30 November 2023 |
2023 | 2022 |
£ | £ |
Turnover |
Cost of sales |
Gross profit |
Administrative expenses |
Operating profit/(loss) | ( |
) |
Interest receivable and similar income |
Profit/(loss) for the financial year before members' remuneration and profit shares available for discretionary division among members |
( |
) |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Statement of Financial Position |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 1,558,595 | 1,556,972 |
Loans and other debts due to members | 8 | 1,558,595 | 1,556,972 |
Total members' interests |
Loans and other debts due to members | 8 | 1,558,595 | 1,556,972 |
Amounts due from members | 6 | (315,703 | ) | (215,081 | ) |
1,242,892 | 1,341,891 |
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. |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Statement of Financial Position - continued |
30 November 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Notes to the Financial Statements |
for the year ended 30 November 2023 |
1. | Statutory information |
Roro Aviation 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. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared on the historical cost basis. |
Significant judgements and estimates |
There are no significant judgements or estimates applied in the preparation of the numbers contained within these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - Straightline on 17 years |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
3. | Accounting policies - continued |
Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
The Company only enters into basic financial instruments 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 non puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently,at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially,at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position 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 readies the asset and settle the liability simultaneously. |
Going concern |
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements. |
4. | Employee information |
The average number of employees during the year was NIL (2022 - NIL). |
5. | Tangible fixed assets |
Plant and |
machinery |
£ |
Cost |
At 1 December 2022 |
and 30 November 2023 |
Depreciation |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
RORO AVIATION LLP (REGISTERED NUMBER: OC429575) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Loans and other debts due to members |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 1,558,595 | 1,556,972 |
Falling due within one year | 1,558,595 | 1,556,972 |
Loans and other debts due to members rank equally with debts due to unsecured creditors. |