Caseware UK (AP4) 2023.0.135 2023.0.135 false4true2023-01-014No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC414916 2023-01-01 2023-12-31 OC414916 2022-01-01 2022-12-31 OC414916 2023-12-31 OC414916 2022-12-31 OC414916 c:PlantMachinery 2023-01-01 2023-12-31 OC414916 c:PlantMachinery 2023-12-31 OC414916 c:PlantMachinery 2022-12-31 OC414916 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC414916 c:CurrentFinancialInstruments 2023-12-31 OC414916 c:CurrentFinancialInstruments 2022-12-31 OC414916 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC414916 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC414916 d:FRS102 2023-01-01 2023-12-31 OC414916 d:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC414916 d:FullAccounts 2023-01-01 2023-12-31 OC414916 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC414916 d:PartnerLLP1 2023-01-01 2023-12-31 OC414916 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC414916 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC414916 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: OC414916













Freya Yachting LLP

Financial statements
Information for filing with the registrar

31 December 2023




 
Freya Yachting LLP
 
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Freya Yachting LLP for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Freya Yachting LLP for the year ended 31 December 2023 which comprise  the balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 11 September 2024Our work has been undertaken solely to prepare for your approval the financial statements of Freya Yachting LLP  and state those matters that we have agreed to state to the Freya Yachting LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Freya Yachting LLP and its members for our work or for this report. 

It is your duty to ensure that Freya Yachting LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Freya Yachting LLP. You consider that Freya Yachting LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Freya Yachting LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
25 September 2024
1

 
Freya Yachting LLP


Balance sheet
At 31 December 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 4 
229,263
246,857

  
229,263
246,857

Current assets
  

Bank and cash balances
  
47
383

  
47
383

Creditors: amounts falling due within one year
 5 
(243,696)
(230,025)

Net current liabilities
  
 
 
(243,649)
 
 
(229,642)

Total assets less current liabilities
  
(14,386)
17,215

  

Net (liabilities)/assets
  
(14,386)
17,215


Represented by:
  

Loans and other debts due (from)/to members within one year
  

Other amounts
  
(14,386)
17,215

  
(14,386)
17,215

  

  
(14,386)
17,215


Total members' interests
  

Loans and other debts due (from)/to members
  
(14,386)
17,215

Members' (deficit)/funds
  
(14,386)
17,215

2

 
Freya Yachting LLP

    
Balance sheet (continued)
At 31 December 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 25 September 2024.




P I Cussins 
Designated member

The notes on pages 4 to 6 form part of these financial statements.

3

 
Freya Yachting LLP
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

Freya Yachting LLP is a limited liability partnership incorporated in England and Wales. The registered office is 12 Bondgate Within, Alnwick, Northumberland, NE66 1TD. The business operates from the port of Gocek, Turkey. 

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

The members believe that the LLP will be able to continue to trade within it's working capital facilities for the forseeable future and with the continued support of it's members. Therefore the members consider it appropriate to prepare the accounts on a going concern basis.

 
2.3

Foreign currency and exchange

Functional and presentation currency

The LLP's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

4

 
Freya Yachting LLP
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Yacht
-
5%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average number of employees, including members, during the year was 4 (2022: 4). 


5

 
Freya Yachting LLP
 
 

Notes to the financial statements
Year ended 31 December 2023

4.


Tangible fixed assets





Yacht




Cost 


At 1 January 2023
351,891



At 31 December 2023

351,891



Depreciation


At 1 January 2023
105,033


Charge for the year
17,595



At 31 December 2023

122,628



Net book value



At 31 December 2023
229,263



At 31 December 2022
246,858


5.


Creditors: amounts falling due within one year

2023
2022

Trade creditors
8,199
4,078

Other creditors
232,730
221,827

Accruals and deferred income
2,767
4,120

243,696
230,025


 
6