Registered number
OC423274
ARS-PATENT LLP
Filleted Accounts
31 July 2023
ARS-PATENT LLP
LLP Information
Designated members
Yuriy Tsarev
Vitaliy Yudin
Accountants
Britannia Accountancy Services
12 Mulberry Place
Pinnell Road
LONDON
SE9 6AR
Registered office
Suite 6, Lansdowne Business Centre
Bumpers Way
Chippenham
Wiltshire
SN14 6RZ
Registered number
OC423274
ARS-PATENT LLP
Registered number: OC423274
Balance Sheet
as at 31 July 2023
Notes 2023 2022
Fixed assets
Tangible assets 3 24,285 27,752
Current assets
Debtors 4 198,661 198,661
Cash at bank and in hand 112,079 141,239
310,740 339,900
Creditors: amounts falling due within one year 5 (6,522) (1,729)
Net current assets 304,218 338,171
Total assets less current liabilities 328,503 365,923
Net assets attributable to members 328,503 365,923
Represented by:
Members' other interests
Other reserves 328,503 365,923
328,503 365,923
Total members' interests
Members' other interests 328,503 365,923
328,503 365,923
For the year ended 31 July 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 30 August 2024 and signed on their behalf by:
Vitaliy Yudin
Designated member
ARS-PATENT LLP
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years on a straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
Cost
At 1 August 2022 34,666
At 31 July 2023 34,666
Depreciation
At 1 August 2022 6,914
Charge for the year 3,467
At 31 July 2023 10,381
Net book value
At 31 July 2023 24,285
At 31 July 2022 27,752
4 Debtors 2023 2022
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest 198,661 198,661
5 Creditors: amounts falling due within one year 2023 2022
Trade creditors 4,423 -
Other creditors 2,099 1,729
6,522 1,729
6 Other information
ARS-PATENT LLP is a limited liability partnership incorporated in England. Its registered office is at:
Suite 6, Lansdowne Business Centre
Bumpers Way
Chippenham
Wiltshire
SN14 6RZ
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