Registered number
OC312970
The Cutting Room (Cheltenham) LLP
Unaudited Filleted Accounts
5 April 2024
The Cutting Room (Cheltenham) LLP
Registered number: OC312970
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 6,314 6,428
Cash at bank 637 1,130
6,951 7,558
Creditors: amounts falling due within one year 4 (780) (780)
Net current assets 6,171 6,778
Total assets less current liabilities 6,171 6,778
Net assets attributable to members 6,171 6,778
Represented by:
Loans and other debts due to members 5 6,071 6,678
Members' other interests
Members' capital classified as equity 100 100
6,171 6,778
Total members' interests
Loans and other debts due to members 5 6,071 6,678
Members' other interests 100 100
6,171 6,778
For the year ended 5 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 24 September 2024 and signed on their behalf by:
S Greaves
Designated member
The Cutting Room (Cheltenham) LLP
Notes to the Accounts
for the year ended 5 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Debtors 2024 2023
£ £
Other debtors 6,314 6,428
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 780 780
5 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 6,071 6,678
Amounts falling due within one year 6,071 6,678
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
The Cutting Room (Cheltenham) LLP is a limited liability partnership incorporated in England. Its registered office is:
11 Kingfisher Business Park
Arthur Street, Lakeside
Redditch
Worcestershire
B98 8LG
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