Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC379897 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC379897 2023-03-31 OC379897 2024-03-31 OC379897 2023-04-01 2024-03-31 OC379897 frs-core:CurrentFinancialInstruments 2024-03-31 OC379897 frs-core:Non-currentFinancialInstruments 2024-03-31 OC379897 frs-core:ComputerEquipment 2024-03-31 OC379897 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC379897 frs-core:ComputerEquipment 2023-03-31 OC379897 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 OC379897 frs-core:FurnitureFittings 2024-03-31 OC379897 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC379897 frs-core:FurnitureFittings 2023-03-31 OC379897 frs-core:MotorVehicles 2024-03-31 OC379897 frs-core:MotorVehicles 2023-04-01 2024-03-31 OC379897 frs-core:MotorVehicles 2023-03-31 OC379897 frs-core:OtherResidualIntangibleAssets 2024-03-31 OC379897 frs-core:OtherResidualIntangibleAssets 2023-03-31 OC379897 frs-core:PlantMachinery 2024-03-31 OC379897 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC379897 frs-core:PlantMachinery 2023-03-31 OC379897 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC379897 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC379897 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC379897 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC379897 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC379897 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC379897 frs-core:CurrentFinancialInstruments 1 2024-03-31 OC379897 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC379897 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC379897 2022-03-31 OC379897 2023-03-31 OC379897 2022-04-01 2023-03-31 OC379897 frs-core:CurrentFinancialInstruments 2023-03-31 OC379897 frs-core:Non-currentFinancialInstruments 2023-03-31 OC379897 frs-core:CurrentFinancialInstruments 1 2023-03-31
Down The Cove LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC379897
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,840 6,840
Tangible Assets 5 14,524 17,159
21,364 23,999
CURRENT ASSETS
Stocks 6 22,096 26,103
Debtors 7 6,564 726
Cash at bank and in hand 1,759 3,538
30,419 30,367
Creditors: Amounts Falling Due Within One Year 8 (4,754 ) (12,979 )
NET CURRENT ASSETS (LIABILITIES) 25,665 17,388
TOTAL ASSETS LESS CURRENT LIABILITIES 47,029 41,387
Creditors: Amounts Falling Due After More Than One Year 9 (647 ) (4,590 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 46,382 36,797
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 54,267 54,267
Other amounts 1 1
54,268 54,268
Equity
Members' other interests
Members' capital (18,214) (27,799)
Other reserves 10,328 10,328
(7,886) (17,471)
46,382 36,797
TOTAL MEMBERS' INTEREST
Amounts due from members (6,130) -
Loans and other debts due to members within one year 54,268 54,268
Members' other interests (7,886) (17,471)
40,252 36,797
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
Mrs Beverly Pashley
Partner
30 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Down The Cove LLP is a limited liability partnership, incorporated in England & Wales, registered number OC379897 . The Registered Office is 1 Laflouder Lane, Mullion, Helston, TR12 7HT.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Plant & Machinery 20% RB
Motor Vehicles 20% RB
Fixtures & Fittings 20% RB
Computer Equipment 20% RB
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 1)
1 1
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 6,840
As at 31 March 2024 6,840
Net Book Value
As at 31 March 2024 6,840
As at 1 April 2023 6,840
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 22,124 17,800 3,376 6,226 49,526
Additions 995 - - - 995
As at 31 March 2024 23,119 17,800 3,376 6,226 50,521
Depreciation
As at 1 April 2023 14,944 11,172 2,925 3,326 32,367
Provided during the period 1,635 1,325 90 580 3,630
As at 31 March 2024 16,579 12,497 3,015 3,906 35,997
Net Book Value
As at 31 March 2024 6,540 5,303 361 2,320 14,524
As at 1 April 2023 7,180 6,628 451 2,900 17,159
6. Stocks
2024 2023
£ £
Stock 22,096 26,103
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26 393
Prepayments and accrued income 408 333
Amounts due from members 6,130 -
6,564 726
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,634 11,010
Bank loans and overdrafts 277 160
Other taxes and social security - 285
VAT 30 753
Lowgy Light Pulls loan a/c (1,200 ) 358
Accruals and deferred income 13 413
4,754 12,979
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 647 4,590
Page 5