1 false false false false false false false false false false false false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 4,842 3,267 977 4,244 598 1,575 xbrli:pure xbrli:shares iso4217:GBP OC412469 2023-04-01 2024-03-31 OC412469 2024-03-31 OC412469 2023-03-31 OC412469 2022-04-01 2023-03-31 OC412469 2023-03-31 OC412469 2022-03-31 OC412469 bus:Director1 2023-04-01 2024-03-31 OC412469 core:WithinOneYear 2024-03-31 OC412469 core:WithinOneYear 2023-03-31 OC412469 bus:SmallEntities 2023-04-01 2024-03-31 OC412469 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC412469 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC412469 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC412469 bus:FullAccounts 2023-04-01 2024-03-31 OC412469 core:OfficeEquipment 2023-04-01 2024-03-31 OC412469 core:OfficeEquipment 2024-03-31 OC412469 core:OfficeEquipment 2023-03-31
REGISTERED NUMBER: OC412469
Cascadehill LLP
Filleted Unaudited Financial Statements
31 March 2024
Cascadehill LLP
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Cascadehill LLP
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
598
1,575
Current assets
Debtors
6
22,323
22,721
Cash at bank and in hand
7,188
8,830
--------
--------
29,511
31,551
Creditors: amounts falling due within one year
7
13,616
12,876
--------
--------
Net current assets
15,895
18,675
--------
--------
Total assets less current liabilities
16,493
20,250
--------
--------
Net assets
16,493
20,250
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
8
16,493
20,250
--------
--------
Members' other interests
Other reserves
--------
--------
16,493
20,250
--------
--------
Total members' interests
Loans and other debts due to members
8
16,493
20,250
Members' other interests
--------
--------
16,493
20,250
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
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) relating to small LLPs.
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 financial statements .
Cascadehill LLP
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the members and authorised for issue on 24 October 2024 , and are signed on their behalf by:
Mr K Wallington
Designated Member
Registered number: OC412469
Cascadehill LLP
Notes to the Financial Statements
Year ended 31 March 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration receivable for services rendered, stated net of discounts and of Value Added Tax.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is is discretionary on the part of the LLP.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the income statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised when the entity becomes a party to the contractual provisions of the instrument and is measured at the fair value of the amount receivable or payable.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 1 (2023: 1 ).
5.
Tangible assets
Equipment
£
Cost
At 1 April 2023 and 31 March 2024
4,842
-------
Depreciation
At 1 April 2023
3,267
Charge for the year
977
-------
At 31 March 2024
4,244
-------
Carrying amount
At 31 March 2024
598
-------
At 31 March 2023
1,575
-------
6.
Debtors
2024
2023
£
£
Trade debtors
22,173
22,571
Other debtors
150
150
--------
--------
22,323
22,721
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
10,883
11,170
Other creditors
2,733
1,706
--------
--------
13,616
12,876
--------
--------
8.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
16,493
20,250
--------
--------