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Registration number: OC379019

Firleaze LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Firleaze LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 5

Balance Sheet

2

Notes to the Financial Statements

4

 

Firleaze LLP

Limited liability partnership information

Designated members

T S Coller

G M Galeozzie
 

Registered office

76 Parrys Lane
Stoke Bishop
Bristol
BS9 1AJ

Accountants

Foxmain Associates Limited
60 Stoke Lane
Westbury on Trym
Bristol
BS9 3SW

 

Firleaze LLP

(Registration number: OC379019)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

3

5,501

7,653

Current assets

 

Stocks

13,000

13,000

Debtors

19,178

25,832

Cash and short-term deposits

 

243

15,226

 

32,421

54,058

Creditors: Amounts falling due within one year

(10,160)

(17,358)

Net current assets

 

22,261

36,700

Total assets less current liabilities

 

27,762

44,353

Creditors: Amounts falling due after more than one year

(11,667)

(21,667)

Net assets attributable to members

 

16,095

22,686

Represented by:

 

Loans and other debts due to members

 

 

-

-

Members’ other interests

 

Capital accounts

 

16,095

22,686

Total members' interests

 

Amounts due from members

 

(12,268)

(14,062)

Members' other interests

 

16,095

22,686

   

16,095

22,686

   

3,827

8,624

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

 

Firleaze LLP

(Registration number: OC379019)
Balance Sheet as at 31 March 2024

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Firleaze LLP (registered number OC379019) were approved by the Board and authorised for issue on 7 September 2024. They were signed on behalf of the limited liability partnership by:


T S Coller
Designated member

 

Firleaze LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Firleaze LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' participation rights

Members' participation rights in the earning or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members are classified as liabilities and are presented in the Balance Sheet as 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

 

Firleaze LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Motor vehicles

18% straight line on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

3

Tangible fixed assets

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

11,958

11,958

At 31 March 2024

11,958

11,958

Depreciation

At 1 April 2023

4,305

4,305

Charge for the year

2,152

2,152

At 31 March 2024

6,457

6,457

Net book value

At 31 March 2024

5,501

5,501

At 31 March 2023

7,653

7,653

4

Ultimate controlling party

The controlling party is T S Coller.