Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 OC342141 Mr B J Winskill Mr S A Winskill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC342141 2022-12-31 OC342141 2023-12-31 OC342141 2023-01-01 2023-12-31 OC342141 frs-core:CurrentFinancialInstruments 2023-12-31 OC342141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 OC342141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC342141 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 OC342141 frs-bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC342141 frs-bus:LimitedLiabilityPartnershipsSORP 2023-01-01 2023-12-31 OC342141 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 OC342141 frs-bus:SmallEntities 2023-01-01 2023-12-31 OC342141 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC342141 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 OC342141 frs-countries:EnglandWales 2023-01-01 2023-12-31 OC342141 frs-bus:PartnerLLP1 2023-01-01 2023-12-31 OC342141 frs-bus:PartnerLLP2 2023-01-01 2023-12-31 OC342141 2021-12-31 OC342141 2022-12-31 OC342141 2022-01-01 2022-12-31 OC342141 frs-core:CurrentFinancialInstruments 2022-12-31
Registered number: OC342141
Atum Developments LLP
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC342141
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,046,880 1,046,880
1,046,880 1,046,880
CURRENT ASSETS
Debtors 5 562,266 451,556
Cash at bank and in hand 38 27
562,304 451,583
Creditors: Amounts Falling Due Within One Year 6 (1,607,934 ) (1,497,213 )
NET CURRENT ASSETS (LIABILITIES) (1,045,630 ) (1,045,630 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,250 1,250
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,250 1,250
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 1,250 1,250
1,250 1,250
1,250 1,250
TOTAL MEMBERS' INTEREST
Amounts due from members (69,847) (13,683)
Loans and other debts due to members within one year 1,250 1,250
(68,597) (12,433)
Page 1
Page 2
For the year ending 31 December 2023 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.
On behalf of the members
Mr S A Winskill
Designated Member
10 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Atum Developments LLP is a limited liability partnership, incorporated in England & Wales, registered number OC342141 . The Registered Office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside , L1 3DN.
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. Going Concern Disclosure
The members have not identified any material uncertainties related to events or conditions that may cast significant doubt about the LLP's ability to continue as a going concern.
2.3. 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.
2.4. 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 Nil
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
2.6. Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
...CONTINUED
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Page 4
2.6. Members' participation rights - continued
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of income and retained earnings within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 January 2023 1,046,880
As at 31 December 2023 1,046,880
Net Book Value
As at 31 December 2023 1,046,880
As at 1 January 2023 1,046,880
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 492,419 435,953
VAT - 1,920
Amounts due from members 69,847 13,683
562,266 451,556
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 448 402
Bank loans and overdrafts 535,288 434,600
Other creditors 1,062,338 1,062,211
Taxation and social security 9,860 -
1,607,934 1,497,213
The bank loan is secured by fixed and floating charges dated 13 March 2015 over all the company's undertaking, property, rights and assets whatsoever and wheresoever both present and future.
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