Limited Liability Partnership registration number OC425494 (England and Wales)
RLS CREATIVE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
RLS CREATIVE LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr R Shore
Mrs L Shore
LLP registration number
OC425494
Registered office
North End
Cream Pot Lane
Cropredy
Banbury
Oxfordshire
OX17 1NT
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
8 Canada Square
Canary Wharf
London
E14 5HQ
RLS CREATIVE LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
RLS CREATIVE LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RLS CREATIVE LLP FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RLS Creative LLP for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the limited liability partnership's members of RLS Creative LLP, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RLS Creative LLP and state those matters that we have agreed to state to the limited liability partnership's members of RLS Creative LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RLS Creative LLP and its members as a body, for our work or for this report.

It is your duty to ensure that RLS Creative LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RLS Creative LLP. You consider that RLS Creative LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RLS Creative LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
7 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
RLS CREATIVE LLP
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
529
661
Current assets
Debtors
4
1,350
2,550
Cash at bank and in hand
2,880
3,886
4,230
6,436
Creditors: amounts falling due within one year
5
(1,122)
(972)
Net current assets
3,108
5,464
Total assets less current liabilities and net assets attributable to members
3,637
6,125
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
3,637
6,125

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships' regime.

The financial statements were approved by the members and authorised for issue on 7 August 2024 and are signed on their behalf by:
07 August 2024
Mr R Shore
Designated member
Limited Liability Partnership registration number OC425494 (England and Wales)
RLS CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

RLS Creative LLP is a limited liability partnership incorporated in England and Wales. The registered office is North End, Cream Pot Lane, Cropredy, Banbury, Oxfordshire, OX17 1NT.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
1.5
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

RLS CREATIVE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0 (2023 - 0).

3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
827
248
1,075
Depreciation and impairment
At 1 April 2023
166
248
414
Depreciation charged in the year
132
-
132
At 31 March 2024
298
248
546
Carrying amount
At 31 March 2024
529
-
529
At 31 March 2023
661
-
661
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,350
2,550
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,122
972
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2024-03-312023-04-01false07 August 2024CCH SoftwareCCH Accounts Production 2024.100falsefalseOC4254942023-04-012024-03-31OC425494bus:PartnerLLP12023-04-012024-03-31OC425494bus:PartnerLLP22023-04-012024-03-31OC4254942024-03-31OC425494bus:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC425494bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC425494bus:FRS1022023-04-012024-03-31OC425494bus:AuditExemptWithAccountantsReport2023-04-012024-03-31OC425494bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:shares