REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Arquine LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Arquine LLP |
Arquine LLP (Registered number: OC345674) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Arquine LLP (Registered number: OC345674) |
Abridged Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
907,138 |
872,481 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
907,138 |
872,481 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 907,138 | 872,481 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
Arquine LLP (Registered number: OC345674) |
Abridged Balance Sheet - continued |
31st March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Arquine LLP (Registered number: OC345674) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Arquine LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historic cost convention. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Arquine LLP (Registered number: OC345674) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
3. | ACCOUNTING POLICIES - continued |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st April 2023 |
and 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Arquine LLP (Registered number: OC345674) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
6. | FIXED ASSET INVESTMENTS |
The amount included as a fixed asset investment represents the company's capital account outstanding as at the balance sheet date in Kondor Management LLP and LKM Finance LLP. |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 907,138 | 872,481 |
Falling due within one year | 907,138 | 872,481 |
The balances shown above would rank below unsecured creditors from the proceeds of a winding-up of the LLP. |
10. | ULTIMATE CONTROLLING PARTY |
During the year, the company was under the control of the designated member, Mr L Filby, by virtue of his control of the designated members. |