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Registered number: OC349626
UNIVERSAL TRADE CONSULTANTS LLP
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC349626
2023 2022
Notes
FIXED ASSETS
Investments 4 13,000 13,000
13,000 13,000
CURRENT ASSETS
Debtors 5 405,763 421,742
Cash at bank and in hand 48,246 33,443
454,009 455,185
Creditors: Amounts Falling Due Within One Year 6 (51,789 ) (54,070 )
NET CURRENT ASSETS (LIABILITIES) 402,220 401,115
TOTAL ASSETS LESS CURRENT LIABILITIES 415,220 414,115
NET ASSETS ATTRIBUTABLE TO MEMBERS 415,220 414,115
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 408,044 408,044
Other amounts 7,060 5,955
415,104 413,999
Equity
Members' other interests
Members' capital 116 116
116 116
415,220 414,115
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 415,104 413,999
Members' other interests 116 116
415,220 414,115
Page 1
Page 2
For the year ending 31 December 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 Tristano Testa
Designated Member
05/09/2024
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
UNIVERSAL TRADE CONSULTANTS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC349626 . The Registered Office is 85 Great Portland Street, First Floor, London, W1W 7LT.
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. 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. Investments
Unlisted
Cost
As at 1 January 2023 13,000
As at 31 December 2023 13,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 13,000
As at 1 January 2023 13,000
Page 3
Page 4
5. Debtors
2023 2022
Due within one year
Other debtors 405,763 421,742
6. Creditors: Amounts Falling Due Within One Year
2023 2022
Trade creditors 13,634 17,637
Other creditors 38,155 36,433
51,789 54,070
Page 4