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REGISTERED NUMBER: OC401271 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

VITAE REACTIVE LLP

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

General Information 1

Report of the Members 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5


VITAE REACTIVE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DESIGNATED MEMBERS: S Watts
Mrs J Watts
Miss E J Watts





REGISTERED OFFICE: Rae House
Dane Street
Bishop's Stortford
Hertfordshire
CM23 3BT





REGISTERED NUMBER: OC401271 (England and Wales)





ACCOUNTANTS: Barrow LLP
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2023

The members present their report with the financial statements of the LLP for the year ended 31 August 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of asbestos removal.

DESIGNATED MEMBERS
The designated members during the year under review were:

S Watts
Mrs J Watts
Miss E J Watts

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £4,217 (2022 - £11,897 profit).

MEMBERS' INTERESTS
Drawings are paid to members at levels agreed in advance and are on account of their share of the profits of the LLP. Any drawings made in excess of their profit share are repayable to the LLP.

Loans from members are made and agreed in order to support the working capital requirements of the LLP.

ON BEHALF OF THE MEMBERS:





S Watts - Designated member


3 October 2024

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023

31.8.23 31.8.22
£    £   

TURNOVER 42,219 66,129

Cost of sales (522 ) (11,241 )
GROSS PROFIT 41,697 54,888

Administrative expenses (37,480 ) (42,991 )
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



4,217



11,897

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Debtors 5 54,036 50,052
Cash at bank - 5,199
54,036 55,251
CREDITORS
Amounts falling due within one year 6 (25,439 ) (30,808 )
NET CURRENT ASSETS 28,597 24,443
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 28,597 24,443

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 28,597 24,443

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 28,597 24,443
Amounts due from members 5 - (63 )
28,597 24,380

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 August 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 3 October 2024 and were signed by:





S Watts - Designated member

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Vitae Reactive LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes the continued support of the LLP's creditors and members. If this assumption proves invalid the preparation of these financial statements on a going concern basis may prove to have been inappropriate, in which case adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. Fixed assets would then be reclassified as current assets.

The members believe that it is appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

VITAE REACTIVE LLP (REGISTERED NUMBER: OC401271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 3,308 5,702
Other debtors 50,728 44,350
54,036 50,052

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 803 -
Trade creditors 3,620 7,763
Taxation and social security 4,916 6,945
Other creditors 16,100 16,100
25,439 30,808

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other creditors and amounts payable.