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REGISTERED NUMBER: OC374339 (England and Wales)










ICSAT LLP

Report of the Members and

Unaudited Financial Statements

for the Year Ended 30 April 2024






ICSAT LLP (Registered number: OC374339)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


ICSAT LLP

General Information
for the year ended 30 April 2024







DESIGNATED MEMBERS: G W S Asquith
B P Smith





REGISTERED OFFICE: 15 Willow Tree Close
Long Lee
Keighley
West Yorkshire
BD21 4RZ





REGISTERED NUMBER: OC374339 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

ICSAT LLP (Registered number: OC374339)

Report of the Members
for the year ended 30 April 2024

The members present their report with the financial statements of the LLP for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of teacher training.

DESIGNATED MEMBERS
The designated members during the year under review were:

G W S Asquith
B P Smith

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £277 (2023 - £1,674 loss).

MEMBERS' INTERESTS
The LLP maintains capital and reserves appropriate to the requirements of the business.

ON BEHALF OF THE MEMBERS:





B P Smith - Designated member


19 September 2024

ICSAT LLP (Registered number: OC374339)

Income Statement
for the year ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 9,255 8,182

Cost of sales (5,593 ) (4,642 )
GROSS PROFIT 3,662 3,540

Administrative expenses (3,617 ) (4,786 )
OPERATING PROFIT/(LOSS) 4 45 (1,246 )

Interest receivable and similar income 7 2
52 (1,244 )

Interest payable and similar expenses (329 ) (430 )
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


(277


)


(1,674


)

LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


(277


)


(1,674


)

Members' remuneration charged as an
expense

5

277

1,674
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


-


-

ICSAT LLP (Registered number: OC374339)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 6 881 1,002

CURRENT ASSETS
Stocks 2,162 2,562
Cash at bank 1,336 1,715
3,498 4,277
CREDITORS
Amounts falling due within one year 7 (2,139 ) (3,474 )
NET CURRENT ASSETS 1,359 803
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,240

1,805

LOANS AND OTHER DEBTS DUE TO
MEMBERS

2,240

1,805

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 2,240 1,805

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 19 September 2024 and were signed by:





B P Smith - Designated member

ICSAT LLP (Registered number: OC374339)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

ICSAT LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable during the year and is net of sales returns, trade discount and rebates. Revenue is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

ICSAT LLP (Registered number: OC374339)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. Impairment loss is recognised immediately in the profit and loss.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

30.4.24 30.4.23
£    £   
Depreciation - owned assets 121 122

5. INFORMATION IN RELATION TO MEMBERS
30.4.24 30.4.23
£    £   
Members' remuneration charged as an expense
Automatic division of loss (277 ) (1,674 )

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 2,838
Disposals (606 )
At 30 April 2024 2,232
DEPRECIATION
At 1 May 2023 1,836
Charge for year 121
Eliminated on disposal (606 )
At 30 April 2024 1,351
NET BOOK VALUE
At 30 April 2024 881
At 30 April 2023 1,002

ICSAT LLP (Registered number: OC374339)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 2,139 3,474