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Registered number: OC439818
Binker and Moses Industries LLP
Financial Statements
For The Year Ended 30 November 2023
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC439818
30 November 2023 30 November 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 - 300
Debtors 5 6,987 1,622
Cash at bank and in hand 2,861 23,074
9,848 24,996
Creditors: Amounts Falling Due Within One Year 6 (354 ) (22,134 )
NET CURRENT ASSETS (LIABILITIES) 9,494 2,862
TOTAL ASSETS LESS CURRENT LIABILITIES 9,494 2,862
NET ASSETS ATTRIBUTABLE TO MEMBERS 9,494 2,862
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 9,494 2,862
9,494 2,862
9,494 2,862
TOTAL MEMBERS' INTEREST
Amounts due from members - (1,622)
Loans and other debts due to members within one year 9,494 2,862
9,494 1,240
Page 1
Page 2
For the year ending 30 November 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Moses Boyd
Designated Member
Mr Binker Golding
Designated Member
28/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Binker and Moses Industries LLP is a limited liability partnership, incorporated in England & Wales, registered number OC439818 . The Registered Office is 1st Floor, 104 Oxford Street, London, London, W1D 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Financial Instruments
The company has only basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, which include creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transactions.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2022: 2)
2 2
4. Stocks
30 November 2023 30 November 2022
£ £
Finished goods - 300
Page 3
Page 4
5. Debtors
30 November 2023 30 November 2022
£ £
Due within one year
Prepayments and accrued income 2,368 -
Other debtors 4,447 -
VAT 172 -
Amounts due from members - 1,622
6,987 1,622
6. Creditors: Amounts Falling Due Within One Year
30 November 2023 30 November 2022
£ £
Trade creditors 354 16,006
VAT - 1,643
Accruals and deferred income - 4,485
354 22,134
Page 4