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REGISTERED NUMBER: OC429575 (England and Wales)















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: Mr R Byrne
Ms B Byrne





Registered office: 17 Clewer Crescent
Harrow Weald
Middlesex
HA3 5QA





Registered number: OC429575 (England and Wales)






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:

Mr R Byrne
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:





Mr R Byrne - Designated member


29 August 2024

RORO AVIATION LLP (REGISTERED NUMBER: OC429575)

Income Statement
for the year ended 30 November 2023

2023 2022
£ £

Turnover 116,420 93,031

Cost of sales 29,894 48,822
Gross profit 86,526 44,209

Administrative expenses 84,814 62,790
Operating profit/(loss) 1,712 (18,581 )

Interest receivable and similar income 91 23
Profit/(loss) for the financial year before
members' remuneration and profit shares
available for discretionary division among
members



1,803



(18,558



)

RORO AVIATION LLP (REGISTERED NUMBER: OC429575)

Statement of Financial Position
30 November 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 5 1,190,596 1,277,713

Current assets
Debtors 6 315,772 215,081
Cash at bank 63,538 79,977
379,310 295,058
Creditors
Amounts falling due within one year 7 11,311 15,799
Net current assets 367,999 279,259
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 November 2023.

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 have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 August 2024 and were signed by:





Mr R Byrne - Designated member

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

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 1,451,945
Depreciation
At 1 December 2022 174,232
Charge for year 87,117
At 30 November 2023 261,349
Net book value
At 30 November 2023 1,190,596
At 30 November 2022 1,277,713

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 315,772 215,081

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 3,756
Trade creditors 689 -
Taxation and social security 6,422 10,843
Other creditors 4,200 1,200
11,311 15,799

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.