Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 31 March 2024 31 March 2024 OC311444 Mr C J Green Mrs S J Humphrey Mrs R L Green Mr S C Green Mrs H Whysall Mr M J Green iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC311444 2023-02-28 OC311444 2024-03-31 OC311444 2023-03-01 2024-03-31 OC311444 frs-core:CurrentFinancialInstruments 2024-03-31 OC311444 frs-core:Non-currentFinancialInstruments 2024-03-31 OC311444 frs-core:ComputerEquipment 2024-03-31 OC311444 frs-core:ComputerEquipment 2023-03-01 2024-03-31 OC311444 frs-core:ComputerEquipment 2023-02-28 OC311444 frs-core:FurnitureFittings 2024-03-31 OC311444 frs-core:FurnitureFittings 2023-03-01 2024-03-31 OC311444 frs-core:FurnitureFittings 2023-02-28 OC311444 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-03-31 OC311444 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-01 2024-03-31 OC311444 frs-bus:FilletedAccounts 2023-03-01 2024-03-31 OC311444 frs-bus:SmallEntities 2023-03-01 2024-03-31 OC311444 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-03-31 OC311444 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-03-31 OC311444 frs-core:CostValuation 2023-02-28 OC311444 frs-core:DisposalsRepaymentsInvestments 2024-03-31 OC311444 frs-core:CostValuation 2024-03-31 OC311444 frs-core:ProvisionsForImpairmentInvestments 2023-02-28 OC311444 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 OC311444 frs-countries:EnglandWales 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP1 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP2 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP3 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP4 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP5 2023-03-01 2024-03-31 OC311444 frs-bus:PartnerLLP6 2023-03-01 2024-03-31 OC311444 2022-02-28 OC311444 2023-02-28 OC311444 2022-03-01 2023-02-28 OC311444 frs-core:CurrentFinancialInstruments 2023-02-28 OC311444 frs-core:Non-currentFinancialInstruments 2023-02-28
Registered number: OC311444
TAG Partnership LLP
Financial Statements
For the Period 1 March 2023 to 31 March 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC311444
31 March 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 56 66
Investments 4 17,950,000 17,950,000
17,950,056 17,950,066
CURRENT ASSETS
Debtors 5 5,034,502 1,958,887
Cash at bank and in hand 32,496 197,671
5,066,998 2,156,558
Creditors: Amounts Falling Due Within One Year 6 (251,621 ) (371,382 )
NET CURRENT ASSETS (LIABILITIES) 4,815,377 1,785,176
TOTAL ASSETS LESS CURRENT LIABILITIES 22,765,433 19,735,242
Creditors: Amounts Falling Due After More Than One Year 7 (8,267,607 ) (5,530,087 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 14,497,826 14,205,155
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 11,960,474 13,490,404
Other amounts 2,537,352 714,751
14,497,826 14,205,155
14,497,826 14,205,155
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 14,497,826 14,205,155
14,497,826 14,205,155
Page 1
Page 2
For the period 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.
On behalf of the members
Mr C J Green
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. Accounting Policies
1.1. 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.
1.2. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
1.3. 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:
Fixtures & Fittings 15%
Computer Equipment 15%
2. Average Number of Employees
Average number of employees, including members, during the year was as follows: NIL (2023: NIL)
- -
3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 985 515 1,500
As at 31 March 2024 985 515 1,500
Depreciation
As at 1 March 2023 919 515 1,434
Provided during the period 10 - 10
As at 31 March 2024 929 515 1,444
Net Book Value
As at 31 March 2024 56 - 56
As at 1 March 2023 66 - 66
Page 3
Page 4
4. Investments
Other
£
Cost
As at 1 March 2023 17,950,000
Disposals -
As at 31 March 2024 17,950,000
Provision
As at 1 March 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 17,950,000
As at 1 March 2023 17,950,000
5. Debtors
31 March 2024 28 February 2023
£ £
Due within one year
Prepayments and accrued income 24,324 20,289
Amounts owed by participating interests 5,010,178 1,938,598
5,034,502 1,958,887
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 28 February 2023
£ £
Bank loans and overdrafts 70,000 95,000
VAT 51,178 61,133
Accruals 116,660 104,772
Deferred income 13,783 110,477
251,621 371,382
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 28 February 2023
£ £
Bank loans 8,267,607 5,530,087
8,267,607 5,530,087
8. Related Party Transactions
Included in debtors are amounts of £1,938,598 (2022:£190,178) owed from GIGI Developments Limited, a company in which Mr C J Green is director.
9. General Information
TAG Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC311444 . The Registered Office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
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