Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 17 August 2022 false 1 April 2023 31 March 2024 31 March 2024 OC443550 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC443550 2023-03-31 OC443550 2024-03-31 OC443550 2023-04-01 2024-03-31 OC443550 frs-core:CurrentFinancialInstruments 2024-03-31 OC443550 frs-core:ComputerEquipment 2024-03-31 OC443550 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC443550 frs-core:ComputerEquipment 2023-03-31 OC443550 frs-core:FurnitureFittings 2024-03-31 OC443550 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC443550 frs-core:FurnitureFittings 2023-03-31 OC443550 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC443550 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC443550 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC443550 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC443550 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC443550 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC443550 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC443550 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC443550 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC443550 2022-08-16 OC443550 2023-03-31 OC443550 2022-08-17 2023-03-31 OC443550 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC443550
Plan: Be Creative LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Harpers Accountancy LLP
PO Box 293
Lewes
BN7 9PG
Contents
Page
Balance Sheet 1—2
Reconciliation of Members' Interests 3—4
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: OC443550
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,044 1,193
1,044 1,193
CURRENT ASSETS
Debtors 5 13,789 4,793
Cash at bank and in hand 5,985 3,157
19,774 7,950
Creditors: Amounts Falling Due Within One Year 6 (1,380 ) (1,912 )
NET CURRENT ASSETS (LIABILITIES) 18,394 6,038
TOTAL ASSETS LESS CURRENT LIABILITIES 19,438 7,231
NET ASSETS ATTRIBUTABLE TO MEMBERS 19,438 7,231
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 19,438 7,231
19,438 7,231
19,438 7,231
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 19,438 7,231
19,438 7,231
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.
On behalf of the members
Ms K Mann
Partner
Mrs E Petrykow
Partner
18/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Reconciliation of Members' Interests
EQUITY DEBT
Members' other interests Loans and other debts due to members less any amounts due from members in debtors
Other Reserves Other amounts Total members' interest
£ £ £
Members' remuneration charged as an expense, including employment and retirement benefit costs - 34,431 34,431
Profit/(loss) for the financial year available for discretionary division among members - - -
Members' interests after profit/(loss) for the year - 34,431 34,431
Drawings - (27,200) (27,200)
Amounts due to members - 7,231 -
As at 31 March 2023 and 1 April 2023 - 7,231 7,231
Members' remuneration charged as an expense, including employment and retirement benefit costs - 29,293 29,293
Profit/(loss) for the financial year available for discretionary division among members - - -
Members' interests after profit/(loss) for the year - 36,524 36,524
Drawings - (17,086) (17,086)
Amounts due to members - 19,438 -
As at 31 March 2024 - 19,438 19,438
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Plan: Be Creative LLP is a limited liability partnership, incorporated in England & Wales, registered number OC443550 . The Registered Office is 12 Shepherds Close, Ringmer, East Sussex, BN8 5LU.
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.  Monetary amounts in these financial statements are rounded to the nearest £.
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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
  • The amount of revenue can be measured reliably;
  • It is probable that the LLP will receive the consideration due under the contract;
  • The stage of completion of the contract at the end of the reporting period can be measured reliably; and 
  • The costs incurred and the costs to complete the contract can be measured 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:
Fixtures & Fittings 5 Years Straight Line
Computer Equipment 3 Years Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .
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2.5. Stocks and Work in Progress
Work in progress comprises unbilled amounts for client work, measured at fair value less provisions for forseeable losses.
2.6. Financial Instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.  Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.  However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in the case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.  If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carting amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.  If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s varying amount and  best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the balance sheet date.  
2.7. Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members.  A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members’ agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically.  Automatic division of profits are recognised as ‘Members’ remuneration charged as an expense’.
2.8. Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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2.9. Creditors
Short-term creditors are measured at the transaction price.  Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 - 1,789 1,789
Additions 560 - 560
As at 31 March 2024 560 1,789 2,349
Depreciation
As at 1 April 2023 - 596 596
Provided during the period 112 597 709
As at 31 March 2024 112 1,193 1,305
Net Book Value
As at 31 March 2024 448 596 1,044
As at 1 April 2023 - 1,193 1,193
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 12,050 3,000
Prepayments and accrued income 1,739 1,793
13,789 4,793
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors - 532
Accruals and deferred income 1,380 1,380
1,380 1,912
Page 6