Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC439667 Mr M Shah Dr A Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC439667 2023-03-31 OC439667 2024-03-31 OC439667 2023-04-01 2024-03-31 OC439667 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 OC439667 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC439667 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC439667 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC439667 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC439667 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC439667 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 OC439667 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC439667 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC439667 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC439667 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC439667 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC439667 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC439667 2022-03-31 OC439667 2023-03-31 OC439667 2022-04-01 2023-03-31
Registered number: OC439667
Pi Education LLP
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: OC439667
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 21,240 28,320
Tangible Assets 5 46,491 61,057
67,731 89,377
CURRENT ASSETS
Debtors 18,000 18,000
Cash at bank and in hand 4,935 6,934
22,935 24,934
Creditors: Amounts Falling Due Within One Year (8,037 ) (5,440 )
NET CURRENT ASSETS (LIABILITIES) 14,898 19,494
TOTAL ASSETS LESS CURRENT LIABILITIES 82,629 108,871
NET ASSETS ATTRIBUTABLE TO MEMBERS 82,629 108,871
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability 182,503 170,750
182,503 170,750
Equity
Members' other interests
Other reserves (99,874) (61,879)
(99,874) (61,879)
82,629 108,871
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 182,503 170,750
Members' other interests (99,874) (61,879)
82,629 108,871
Page 1
Page 2
For the year ending 31 March 2024 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.
All of the LLP's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mr M Shah
Designated Member
19/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Pi Education LLP is a limited liability partnership, incorporated in England & Wales, registered number OC439667 . The Registered Office is 30 The Chase, Watford, WD18 7JQ.
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.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are licenses. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Leasehold 20%
Plant & Machinery 20%
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 9 (2023: 2)
9 2
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 35,400
As at 31 March 2024 35,400
Amortisation
As at 1 April 2023 7,080
Provided during the period 7,080
As at 31 March 2024 14,160
Net Book Value
As at 31 March 2024 21,240
As at 1 April 2023 28,320
Page 3
Page 4
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 75,362
Additions 633
As at 31 March 2024 75,995
Depreciation
As at 1 April 2023 14,305
Provided during the period 15,199
As at 31 March 2024 29,504
Net Book Value
As at 31 March 2024 46,491
As at 1 April 2023 61,057
Page 4