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Registered number: OC368278
SMARTYADS LLP
Unaudited Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3
Page 1
Balance Sheet
Registered number: OC368278
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Cash at bank and in hand 55,670 55,670
55,670 55,670
Creditors: Amounts Falling Due Within One Year 4 (850 ) (850 )
NET CURRENT ASSETS (LIABILITIES) 54,820 54,820
TOTAL ASSETS LESS CURRENT LIABILITIES 54,820 54,820
NET ASSETS ATTRIBUTABLE TO MEMBERS 54,820 54,820
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 54,819 54,819
54,819 54,819
Equity
Members' other interests
Members' capital 1 1
1 1
54,820 54,820
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 54,819 54,819
Members' other interests 1 1
54,820 54,820
Page 1
Page 2
For the year ending 30 September 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
ARM TECHNOLOGY LTD
Designated Member
26/09/2024
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SMARTYADS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC368278 . The Registered Office is 102 Langdale House, 11 Marshalsea Road, London, SE1 1EN.
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 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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2022: 1)
1 1
4. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 850 850
5. Loans And Other Debts Due to Members
In the event of a winding up of the LLP, amounts classified as 'other debts due to members' would rank behind other non-secured creditors. There are no restrictions that exist on the ability of members to reduce the amounts classifies as 'members capital'.
Page 3