Silverfin false 31/03/2024 16/12/2022 31/03/2024 I Grebenshchikova 16/12/2022 B Grebenshchikov 16/12/2022 V Levin 16/12/2022 16 September 2024 OC445085 2024-03-31 OC445085 bus:Director1 2024-03-31 OC445085 bus:Director2 2024-03-31 OC445085 bus:Director3 2024-03-31 OC445085 core:CurrentFinancialInstruments 2024-03-31 OC445085 2022-12-16 2024-03-31 OC445085 bus:FullAccounts 2022-12-16 2024-03-31 OC445085 bus:SmallEntities 2022-12-16 2024-03-31 OC445085 bus:AuditExemptWithAccountantsReport 2022-12-16 2024-03-31 OC445085 bus:LimitedLiabilityPartnershipLLP 2022-12-16 2024-03-31 OC445085 bus:Director1 2022-12-16 2024-03-31 OC445085 bus:Director2 2022-12-16 2024-03-31 OC445085 bus:Director3 2022-12-16 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC445085 (England and Wales)

BG PLUS LLP

Unaudited Financial Statements
For the financial period from 16 December 2022 to 31 March 2024
Pages for filing with the registrar

BG PLUS LLP

Unaudited Financial Statements

For the financial period from 16 December 2022 to 31 March 2024

Contents

BG PLUS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
BG PLUS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
31.03.2024
£
Current assets
Cash at bank and in hand 90,985
90,985
Creditors: amounts falling due within one year 4 ( 3,300)
Net current assets 87,685
Total assets less current liabilities 87,685
Net assets attributable to members 87,685
Represented by
Loans and other debts due to members within one year
Other amounts 87,685
87,685
Members' other interests
0
87,685
Total members' interests
Loans and other debts due to members 6 87,685
87,685

For the financial period ending 31 March 2024 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.

Members' responsibilities:

The financial statements of BG Plus LLP (registered number: OC445085) were approved and authorised for issue by the Board of Directors on 16 September 2024. They were signed on its behalf by:

V Levin
Designated member
BG PLUS LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial period from 16 December 2022 to 31 March 2024
BG PLUS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial period from 16 December 2022 to 31 March 2024
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other amounts Total
£ £
Balance at 16 December 2022 0 0
Members' remuneration charged as an expense, including employment and retirement benefit costs 122,685 122,685
Members' interest after result for the financial period 122,685 122,685
Drawings (35,000) (35,000)
Amounts due to members 87,685
Balance at 31 March 2024 87,685 87,685

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

BG PLUS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 March 2024
BG PLUS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 December 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

BG Plus LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets
Basic financial assets, including trade and other debtors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
16.12.2022 to
31.03.2024
Number
Monthly average number of persons employed by the LLP during the period 0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

31.03.2024
Number
Average number of members during the financial period 3

4. Creditors: amounts falling due within one year

31.03.2024
£
Accruals 3,300

5. Related party transactions

The designated members of the LLP are considered to be key management responsible for planning, directing and controlling the activities of the LLP. Transactions with the designated members are shown in the reconciliation of members interests.

6. Loans and other debts due to members

31.03.2024
£
Other amounts due to members 87,685

Loans and other debts due to members may be further analysed as follows:

31.03.2024
£
Falling due within one year 87,685