REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 31 MARCH 2024 |
FOR |
ILUMITI LLP |
PREVIOUSLY KNOWN AS |
LEMONADE LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 31 MARCH 2024 |
FOR |
ILUMITI LLP |
PREVIOUSLY KNOWN AS |
LEMONADE LLP |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 January 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
ILUMITI LLP |
PREVIOUSLY KNOWN AS LEMONADE LLP |
GENERAL INFORMATION |
for the period 1 January 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
BALANCE SHEET |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,006,131 | 1,083,272 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 9 | 706,131 | 771,911 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 300,000 | 311,361 |
1,006,131 | 1,083,272 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 706,131 | 771,911 |
Members' other interests | 300,000 | 311,361 |
1,006,131 | 1,083,272 |
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. |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
BALANCE SHEET - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
ilumiti LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Brands - 25% and 10% on reducing balance |
Tangible fixed assets |
Plant and machinery etc | - |
On disposal the difference between the net proceeds and carrying amount of the item disposed is recognised in the profit and loss account, and included in administration expenses. |
Financial instruments |
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic financial instruments. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2023 to 31 March 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
Impairments | (3,352 | ) |
At 31 March 2024 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
ILUMITI LLP (REGISTERED NUMBER: OC386425) |
PREVIOUSLY KNOWN AS LEMONADE LLP |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2023 to 31 March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2022 |
£ | £ |
Within one year |
Lease payments of £11,875 (2022: £47,500) have been recognised as an expense during the year. The lease was terminated during the period. |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of winding up, loans and other debts due to members rank after unsecured creditors. Members' other interests (other reserves) rank after unsecured creditors and no additional protection is afforded to creditors. Individual members' capital contributions are not repayable until the member retires from the LLP. |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ILUMITI LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs 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 ilumiti LLP for the period ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of ilumiti LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ilumiti LLP and state those matters that we have agreed to state to the members of ilumiti LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ilumiti LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that ilumiti 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 profit of ilumiti LLP. You consider that ilumiti LLP is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of ilumiti 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. |
This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
Chartered Accountants |
Ashbourne House |
The Guildway |
Old Portsmouth Road |
Guildford |
Surrey |
GU3 1LR |