Registered number
OC369927
Tower Business Consulting LLP
Filleted Accounts
5 April 2024
Tower Business Consulting LLP
Registered number: OC369927
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 250 250
Cash at bank and in hand 4,925 4,925
5,175 5,175
Creditors: amounts falling due within one year 4 (438) (438)
Net current assets 4,737 4,737
Total assets less current liabilities 4,737 4,737
Net assets attributable to members 4,737 4,737
Represented by:
Loans and other debts due to members 5 (817,659) (817,659)
Members' other interests
Members' capital classified as equity 100 100
Other reserves 822,296 822,296
822,396 822,396
4,737 4,737
Total members' interests
Loans and other debts due to members 5 (817,659) (817,659)
Members' other interests 822,396 822,396
4,737 4,737
For the year ended 5 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 9 September 2024 and signed on their behalf by:
K Piggott for and on behald of Tower Resources Limited
Designated member
Tower Business Consulting LLP
Notes to the Accounts
for the year ended 5 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP - -
3 Debtors 2024 2023
£ £
Trade debtors 250 250
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16 16
Other creditors 422 422
438 438
5 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits (817,659) (817,659)
Amounts falling due within one year (817,659) (817,659)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Tower Business Consulting LLP is a limited liability partnership incorporated in England. Its registered office is:
Fourth Floor, Silverstream House
45 Fitzroy Street, Fitzrovia
London
United Kingdom
W1T 6EB
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