Acorah Software Products - Accounts Production 15.0.600 false true false 25 November 2022 30 November 2023 30 November 2023 OC444810 Dr Rohin Butani Dr Harpal Bahra Mrs Shejal Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC444810 2022-11-24 OC444810 2023-11-30 OC444810 2022-11-25 2023-11-30 OC444810 frs-core:Non-currentFinancialInstruments 2023-11-30 OC444810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 OC444810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-25 2023-11-30 OC444810 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-24 OC444810 frs-bus:LimitedLiabilityPartnershipLLP 2022-11-25 2023-11-30 OC444810 frs-bus:LimitedLiabilityPartnershipsSORP 2022-11-25 2023-11-30 OC444810 frs-bus:FilletedAccounts 2022-11-25 2023-11-30 OC444810 frs-bus:SmallEntities 2022-11-25 2023-11-30 OC444810 frs-bus:AuditExempt-NoAccountantsReport 2022-11-25 2023-11-30 OC444810 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-25 2023-11-30 OC444810 frs-countries:EnglandWales 2022-11-25 2023-11-30 OC444810 frs-bus:PartnerLLP1 2022-11-25 2023-11-30 OC444810 frs-bus:PartnerLLP2 2022-11-25 2023-11-30 OC444810 frs-bus:PartnerLLP3 2022-11-25 2023-11-30
Registered number: OC444810
Fourways Partnership Limited Liability Partnership
Financial Statements
For the Period 25 November 2022 to 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC444810
30 November 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 724,066
724,066
CURRENT ASSETS
Cash at bank 2,142
2,142
Creditors: Amounts Falling Due Within One Year 5 (950 )
NET CURRENT ASSETS (LIABILITIES) 1,192
TOTAL ASSETS LESS CURRENT LIABILITIES 725,258
Creditors: Amounts Falling Due After More Than One Year 6 (601,202 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 124,056
REPRESENTED BY:
Equity
Members' other interests
Members' capital 125,083
Other reserves (1,027)
124,056
TOTAL MEMBERS' INTEREST
Members' other interests 124,056
124,056
Page 1
Page 2
For the period 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
Dr Rohin Butani
Designated Member
6 August 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
Fourways Partnership Limited Liability Partnership is a limited liability partnership, incorporated in England & Wales, registered number OC444810 . The Registered Office is 23, Squirrels Heath Road, Romford, Essex, RM3 0LH.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold non depreciable asset
2.4. 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.
2.5. 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
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: 3
3
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 25 November 2022 -
Additions 724,066
As at 30 November 2023 724,066
Net Book Value
As at 30 November 2023 724,066
As at 25 November 2022 -
5. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Other creditors 950
6. Creditors: Amounts Falling Due After More Than One Year
30 November 2023
£
Bank loans 601,202
Page 4