Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC370743 A Shaw B Wood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC370743 2023-03-31 OC370743 2024-03-31 OC370743 2023-04-01 2024-03-31 OC370743 frs-core:CurrentFinancialInstruments 2024-03-31 OC370743 frs-core:ComputerEquipment 2024-03-31 OC370743 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC370743 frs-core:ComputerEquipment 2023-03-31 OC370743 frs-core:FurnitureFittings 2024-03-31 OC370743 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC370743 frs-core:FurnitureFittings 2023-03-31 OC370743 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC370743 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC370743 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC370743 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC370743 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC370743 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC370743 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC370743 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC370743 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC370743 2022-03-31 OC370743 2023-03-31 OC370743 2022-04-01 2023-03-31 OC370743 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC370743
Corinthian Tax LLP
Financial Statements
For The Year Ended 31 March 2024
Corinthian Tax LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC370743
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,909 3,778
4,909 3,778
CURRENT ASSETS
Debtors 5 57,840 43,281
Cash at bank and in hand 48,591 35,122
106,431 78,403
Creditors: Amounts Falling Due Within One Year 6 (41,855 ) (16,061 )
NET CURRENT ASSETS (LIABILITIES) 64,576 62,342
TOTAL ASSETS LESS CURRENT LIABILITIES 69,485 66,120
NET ASSETS ATTRIBUTABLE TO MEMBERS 69,485 66,120
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 291,449 248,672
291,449 248,672
Equity
Members' other interests
Members' capital (221,964) (182,552)
(221,964) (182,552)
69,485 66,120
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 291,449 248,672
Members' other interests (221,964) (182,552)
69,485 66,120
Page 1
Page 2
For the year 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 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
B Wood
Designated Member
30/07/2024
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
Corinthian Tax LLP is a limited liability partnership, incorporated in England & Wales, registered number OC370743 . The Registered Office is Lynnfield House, Church Street, Altrincham, WA14 4DZ.
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:
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,037 6,738 7,775
Additions 301 2,854 3,155
Disposals - (2,529 ) (2,529 )
As at 31 March 2024 1,338 7,063 8,401
Depreciation
As at 1 April 2023 166 3,831 3,997
Provided during the period 272 949 1,221
Disposals - (1,726 ) (1,726 )
As at 31 March 2024 438 3,054 3,492
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 900 4,009 4,909
As at 1 April 2023 871 2,907 3,778
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 53,958 39,994
Prepayments and accrued income 595 -
Other debtors 3,287 3,287
57,840 43,281
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,056 1,070
Other taxes and social security 376 386
VAT 23,749 14,485
Other creditors - 120
Accruals and deferred income 15,674 -
41,855 16,061
Page 4