IVF Couriers LLP Filleted Accounts Cover
IVF Couriers LLP
Registered No. OC403205
Information for Filing with the Registrar
31 December 2023
IVF Couriers LLP Balance Sheet Registrar
at
31 December 2023
Registered No.
OC403205
Notes
2023
2022
Fixed assets
Intangible assets
4
970,000
760,000
Tangible assets
5
9,193
12,764
979,193
772,764
Current assets
Stocks
6
60,000
-
Debtors
7
27,879
77,621
Cash at bank and in hand
143,160
150,539
231,039
228,160
Creditors: Amounts falling due within one year
8
(19,589)
(21,584)
Net current assets
211,450
206,576
Total assets less current liabilities
1,190,642
979,340
Net assets attributable to members
1,190,642
979,340
Represented by:
Members' other interests
Members' capital
1,036,149
806,835
Other reserves
154,493
172,505
1,190,642
979,340
1,190,642
979,340
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 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) relating to small 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.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 31 December 2023 and signed on its behalf by:
Cottesbrooke Investments Ltd
Designated member
31 December 2023
IVF Couriers LLP Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
IVF Couriers LLP is a limited liability partnership and incorporated in England and Wales.
Its registered number is: OC403205
Its registered office is:
1 The Courtyard
Poundfield Road
Chalvington
East Sussex
BN27 3YD
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Furniture, fittings and equipment
25% Straight Line
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Foreign currencies
The functional and presentational currency of the company is Euro. The accounts are rounded to the nearest euro.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
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.
3
Employees
2023
2022
Number
Number
The average number of persons employed during the year was:
0
0
4
Intangible fixed assets
Goodwill
Total
Cost
At 1 January 2023
760,000760,000
Additions
210,000210,000
At 31 December 2023
970,000970,000
Amortisation
Net book values
At 31 December 2023
970,000970,000
At 31 December 2022
760,000760,000
5
Tangible fixed assets
Plant and machinery
Total
Cost
At 1 January 2023
26,68026,680
Additions
4,1324,132
At 31 December 2023
30,81230,812
Depreciation
At 1 January 2023
13,91613,916
Charge for the year
7,7037,703
At 31 December 2023
21,61921,619
Net book values
At 31 December 2023
9,1939,193
At 31 December 2022
12,764
12,764
6
Stocks
2023
2022
Work in progress
60,000-
60,000-
7
Debtors
2023
2022
Trade debtors
27,87977,621
27,87977,621
8
Creditors:
amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,9759,510
Trade creditors
750-
Other taxes and social security
16,11311,324
Accruals and deferred income
751750
19,58921,584
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