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Registered number: OC429672
Ventures Together LLP
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC429672
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 220,338 1,000
Cash at bank and in hand 170,911 294,579
391,249 295,579
Creditors: Amounts Falling Due Within One Year 5 (494,422 ) (326,327 )
NET CURRENT ASSETS (LIABILITIES) (103,173 ) (30,748 )
TOTAL ASSETS LESS CURRENT LIABILITIES (103,173 ) (30,748 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (103,173 ) (30,748 )
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability (103,173) (40,400)
(103,173) (40,400)
Equity
Members' other interests
Other reserves - 9,652
- 9,652
(103,173) (30,748)
TOTAL MEMBERS' INTEREST
Amounts due from members (15,190) -
Loans and other debts due to members within one year (103,173) (40,400)
Members' other interests - 9,652
(118,363) (30,748)
Page 1
Page 2
For the year ending 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 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 R O'Donovan
Partner
20 September 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
Ventures Together LLP is a limited liability partnership, incorporated in England & Wales, registered number OC429672 . The Registered Office is 20-22 Wenlock Road, London, N1 7GU.
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. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
2.3. 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.
2.4. Financial Instruments
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2022: NIL)
- -
Page 3
Page 4
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 157,000 -
Other debtors 63,338 1,000
220,338 1,000
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 15,946 15,887
Other creditors 464,463 310,440
Taxation and social security 14,013 -
494,422 326,327
Page 4