REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 AUGUST 2022 TO 31 DECEMBER 2023 |
FOR |
NORTH ROAD UK, LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 AUGUST 2022 TO 31 DECEMBER 2023 |
FOR |
NORTH ROAD UK, LLP |
NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NORTH ROAD UK, LLP |
GENERAL INFORMATION |
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023 |
Designated members: |
Registered office: |
Registered number: |
Auditors: |
Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 0LT |
NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565) |
BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
268,994 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
263,994 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 5,000 |
268,994 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 263,994 |
Members' other interests | 5,000 |
Amounts due from members | 6 | (1,771,179 | ) |
(1,502,185 | ) |
The financial statements were approved by the members of the LLP and authorised for issue on |
NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
North Road UK, LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The LLP’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred. |
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. |
Tangible fixed assets |
Furniture & Fixtures - 84 months on straight line basis. |
Leasehold Improvements - 60 months on straight line basis. |
Financial instruments |
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the LLP's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
All of the LLP's sales are to North Road Company, LLC, the parent company, therefore the LLP is reliant on the ongoing support of the parent company. The parent company will continue to support the LLP financially for at least 12 months from the date of the financial statements. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
Cost |
Additions |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | fittings | Totals |
£ | £ | £ |
Cost |
Additions |
At 31 December 2023 |
Depreciation |
Charge for period |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up, amounts included within "Loans and other debts due to members" would rank equally with unsecured creditors. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE PARENT COMPANY |
The immediate parent company is North Road Opco, LLC., the company incorporated in the United States of America. |
The ultimate parent company is CE Parent, LP., the partnership registered in the United States of America. |