Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 OC420911 Imillion Ltd Nottingham Limited Andrea Maurio Bruno Quadranti true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC420911 2022-12-31 OC420911 2023-12-31 OC420911 2023-01-01 2023-12-31 OC420911 frs-core:CurrentFinancialInstruments 2023-12-31 OC420911 frs-bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC420911 frs-bus:LimitedLiabilityPartnershipsSORP 2023-01-01 2023-12-31 OC420911 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 OC420911 frs-bus:SmallEntities 2023-01-01 2023-12-31 OC420911 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC420911 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 OC420911 1 2023-01-01 2023-12-31 OC420911 frs-countries:EnglandWales 2023-01-01 2023-12-31 OC420911 frs-bus:PartnerLLP1 2023-01-01 2023-12-31 OC420911 frs-bus:PartnerLLP2 2023-01-01 2023-12-31 OC420911 2021-12-31 OC420911 2022-12-31 OC420911 2022-01-01 2022-12-31 OC420911 frs-core:CurrentFinancialInstruments 2022-12-31
Registered number: OC420911
Waterloo Venture LLP
Unaudited Financial Statements
For The Year Ended 31 December 2023
Adbell Advisory Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC420911
2023 2022
Notes
CURRENT ASSETS
Debtors 4 228,756 493,942
Cash at bank and in hand 14,214 453,896
242,970 947,838
Creditors: Amounts Falling Due Within One Year 5 (953 ) (953 )
NET CURRENT ASSETS (LIABILITIES) 242,017 946,885
TOTAL ASSETS LESS CURRENT LIABILITIES 242,017 946,885
NET ASSETS ATTRIBUTABLE TO MEMBERS 242,017 946,885
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 233,975 938,843
233,975 938,843
Equity
Members' other interests
Members' capital 8,042 8,042
8,042 8,042
242,017 946,885
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 233,975 938,843
Members' other interests 8,042 8,042
242,017 946,885
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
Imillion Ltd
Designated Member
26/09/2024
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
Waterloo Venture LLP is a limited liability partnership, incorporated in England & Wales, registered number OC420911 . The Registered Office is Birchin Court, 20 Birchin Lane , EC3V 9DJ.
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 EURO 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.
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 statement of financial position 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 trade and other receivables 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 constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
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, including trade and other payables, 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 the
future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables 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 payment is due within one year or
less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest method.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
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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. Debtors
2023 2022
Due within one year
Trade debtors 177,332 92,380
Prepayments and accrued income 51,424 401,562
228,756 493,942
5. Creditors: Amounts Falling Due Within One Year
2023 2022
Other creditors 953 953
6. Ultimate Controlling Party
The LLP's ultimate controlling party is Andrea Maurio Bruno Quadranti .
Page 4