Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 OC302409 Mr Robert Tait Mr Barry Evans iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC302409 2022-06-30 OC302409 2023-06-30 OC302409 2022-07-01 2023-06-30 OC302409 frs-core:CurrentFinancialInstruments 2023-06-30 OC302409 frs-core:Non-currentFinancialInstruments 2023-06-30 OC302409 frs-core:ComputerEquipment 2022-07-01 2023-06-30 OC302409 frs-core:PlantMachinery 2023-06-30 OC302409 frs-core:PlantMachinery 2022-07-01 2023-06-30 OC302409 frs-core:PlantMachinery 2022-06-30 OC302409 frs-bus:LimitedLiabilityPartnershipLLP 2022-07-01 2023-06-30 OC302409 frs-bus:LimitedLiabilityPartnershipsSORP 2022-07-01 2023-06-30 OC302409 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 OC302409 frs-bus:SmallEntities 2022-07-01 2023-06-30 OC302409 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 OC302409 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 OC302409 frs-countries:EnglandWales 2022-07-01 2023-06-30 OC302409 frs-bus:PartnerLLP1 2022-07-01 2023-06-30 OC302409 frs-bus:PartnerLLP2 2022-07-01 2023-06-30 OC302409 2021-06-30 OC302409 2022-06-30 OC302409 2021-07-01 2022-06-30 OC302409 frs-core:CurrentFinancialInstruments 2022-06-30 OC302409 frs-core:Non-currentFinancialInstruments 2022-06-30
Registered number: OC302409
DRED UK Limited Liability Partnership
Unaudited Financial Statements
For The Year Ended 30 June 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC302409
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 67
- 67
CURRENT ASSETS
Debtors 5 21,593 20,988
21,593 20,988
Creditors: Amounts Falling Due Within One Year 6 (8,459 ) (8,571 )
NET CURRENT ASSETS (LIABILITIES) 13,134 12,417
TOTAL ASSETS LESS CURRENT LIABILITIES 13,134 12,484
Creditors: Amounts Falling Due After More Than One Year 7 (11,673 ) (11,673 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,461 811
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability (130,461) (95,993)
Other amounts 130,461 95,993
- -
Equity
Members' other interests
Members' capital 1,461 811
1,461 811
TOTAL MEMBERS' INTEREST
Members' other interests 1,461 811
1,461 811
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For the year ending 30 June 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 Robert Tait
Designated Member
Mr Barry Evans
Designated Member
16/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
DRED UK Limited Liability Partnership is a limited liability partnership, incorporated in England & Wales, registered number OC302409 . The Registered Office is 7 Derwent Road, Lee-On-The-Solent, Hampshire, PO13 8JG.
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 is revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Computer Equipment 3 years straight line
2.4. Financial Instruments
Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.5. Government Grant
The government grants received resulting from Covid-19 has been recognised on an accruals basis to the period which it relates and disclosed as separate grant income in the profit and loss.
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2.6. 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.
2.7. Members' participating interests
Member's 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 members' 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 classed as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interest'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within member' interests.

Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both legally enforceable right to set off the recognised amounts, and it intends either to settle on a new basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.

2.8. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 July 2022 1,318
As at 30 June 2023 1,318
Depreciation
As at 1 July 2022 1,251
Provided during the period 67
As at 30 June 2023 1,318
...CONTINUED
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Net Book Value
As at 30 June 2023 -
As at 1 July 2022 67
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,436 2,975
Other debtors 18,157 18,013
21,593 20,988
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 7,199 7,311
Other creditors 1,260 1,260
8,459 8,571
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 11,673 11,673
11,673 11,673
During the financial period the partnership was granted a bounce back loan, which will be repaid in line with the accepted government terms. It is denominated in £ with a nominal interest rate of 2.5% and the final instalment is due in July 2026. The carrying amount at the year end is £14,705 (2022: £14,794).
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