Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
|
|
|
737,500 | 512,500 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
1,352,868 | 1,130,221 | |||
Net current assets | 1,352,868 | 1,130,221 | ||
Total assets less current liabilities | 2,090,368 | 1,642,721 | ||
Net assets attributable to members |
|
|
||
Represented by | ||||
Loans and other debts due to members within one year | ||||
Members' capital classified as a liability | 250,000 | 250,000 | ||
250,000 | 250,000 | |||
Loans and other debts due to members after more than one year | ||||
Members' capital classified as a liability | 1,275,000 | 1,025,000 | ||
1,275,000 | 1,025,000 | |||
Members' other interests | ||||
Fair value reserve | 587,500 | 387,500 | ||
Other reserves | (22,132) | (19,779) | ||
565,368 | 367,721 | |||
2,090,368 | 1,642,721 | |||
Total members' interests | ||||
Loans and other debts due to members | 1,525,000 | 1,275,000 | ||
Members' other interests | 565,368 | 367,721 | ||
2,090,368 | 1,642,721 |
Members' responsibilities:
The financial statements of Project DBW LLP (registered number:
E J Colbourne
Designated member |
Andrew Toby Smith
Designated member |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Project DBW LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 6th Floor 1 Aldermanbury Square, London, EC2V 7HR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In the event of a winding up, members other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests.
In accordance with the LLP agreement, profits are automatically allocated to members and losses are not allocated to members.
The fair value reserve is a reserve of the LLP and not allocated to members.
The investment in associate has been revalued by the members to fair value at the balance sheet date with the movement in the fair value recognised in the fair value reserve.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method
2023 | 2022 | ||
Number | Number | ||
The average number of Members during the year |
|
|
The LLP had no employees during the year.
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 January 2023 |
|
|
|
Additions |
|
|
|
Movement in fair value |
|
|
|
At 31 December 2023 |
|
|
|
Carrying value at 31 December 2023 |
|
|
|
Carrying value at 31 December 2022 |
|
|
2023 | 2022 | ||
£ | £ | ||
Other debtors |
|
|
The LLP maintains an interest free loan account with an associate. At the balance sheet date the LLP was owed £1,350,000 (2022 - £1,125,000) from the associate.