Registered No. OC435004 (England and Wales)
ELITE SENSE LLP
Unaudited accounts
for the year ended 31 January 2024
ELITE SENSE LLP
LLP Information
for the year ended 31 January 2024
Designated members
Yazjy Lina
Registered Number
OC435004 (England and Wales)
Registered Office
27 OLD GLOUCESTER STREET
LONDON
WC1N 3AX
UNITED KINGDOM
ELITE SENSE LLP
Statement of financial position
as at 31 January 2024
Cash at bank and in hand
8,338
1,605
Net current assets
14,722
3,453
Net assets attributable to members
14,722
3,453
Members' capital classified as equity
(92)
(92)
Other reserves
14,814
3,545
Members' other interests
14,722
3,453
For the year ending 31 January 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 29 October 2024.
Bassem Saab
Designated member
Limited Liability Partnership Registration No. OC435004
ELITE SENSE LLP
Notes to the Accounts
for the year ended 31 January 2024
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members are expected to subscribe a minimum amount of capital and may be invited to contribute more. On retirement, all capital is repaid to the member concerned.
Members' shares in the profit or loss for the year available for discretionary division among the members are accounted for as an allocation of that balance. Allocated balances are split between the members with any unallocated balances being included within 'Other reserves'. Members are permitted to make drawings in anticipation of that allocation, subject to the agreement of the other members.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
ELITE SENSE LLP is a limited liability partnership, incorporated in England and Wales, registration number OC435004. Its registered office is 27 OLD GLOUCESTER STREET, LONDON, WC1N 3AX, UNITED KINGDOM.
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
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Average number of employees
During the year the average number of employees was 2 (2023: 2).