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REGISTERED NUMBER: OC345674 (England and Wales)














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 27,245 35,937
Investments 6 231,979 237,460
Investment property 7 23,513 23,513
282,737 296,910

CURRENT ASSETS
Debtors 8 320,252 180,830
Cash at bank 311,783 403,240
632,035 584,070
CREDITORS
Amounts falling due within one year 7,634 8,499
NET CURRENT ASSETS 624,401 575,571
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

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 have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30th October 2024 and were signed by:




Mr L R Filby - Designated member




Mrs C Filby - Designated member


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: OC345674

Registered office: Kings Lodge
London Road
West Kingsdown
Kent
TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historic cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and over the period of the lease
Computer equipment - 25% on cost

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 75,962
DEPRECIATION
At 1st April 2023 40,025
Charge for year 8,692
At 31st March 2024 48,717
NET BOOK VALUE
At 31st March 2024 27,245
At 31st March 2023 35,937

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 23,513
NET BOOK VALUE
At 31st March 2024 23,513
At 31st March 2023 23,513

8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 320,000 175,000

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.