REGISTERED NUMBER:
OC445627
Preston Anaesthetists Critical Care Cooperative Services LLP |
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Filleted Unaudited Financial Statements |
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Preston Anaesthetists Critical Care Cooperative Services LLP |
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Statement of Financial Position |
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31 March 2024
Current assets
Debtors |
4 |
1,237 |
Cash at bank and in hand |
21,679 |
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-------- |
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22,916 |
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Creditors: amounts falling due within one year |
5 |
11,716 |
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-------- |
Net current assets |
11,200 |
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-------- |
Total assets less current liabilities |
11,200 |
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-------- |
Net assets |
11,200 |
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-------- |
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Represented by:
Loans and other debts due to members
Members' other interests
Members' capital classified as equity |
11,200 |
Other reserves |
– |
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-------- |
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11,200 |
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-------- |
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Total members' interests
Amounts due from members |
(1,237) |
Loans and other debts due to members |
– |
Members' other interests |
11,200 |
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-------- |
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9,963 |
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-------- |
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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 period 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
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Preston Anaesthetists Critical Care Cooperative Services LLP |
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Statement of Financial Position (continued) |
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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:
IHA Medical Ltd |
Designated Member |
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Registered number:
OC445627
Preston Anaesthetists Critical Care Cooperative Services LLP |
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Notes to the Financial Statements |
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Period from 1 February 2023 to 31 March 2024
The LLP is registered in England & Wales. The address of the registered office is Crossens Way Business Park, Crossens Way, Southport,United Kingdom, PR9 9LY. The principal activity of the LLP is that of specialist medical practice activities.
2. |
Statement of compliance |
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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 2018 (SORP 2018).
Basis of preparation
The financial statements have been prepared on a historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The members believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
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 statement of comprehensive income 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'.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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31 Mar 24 |
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£ |
Other debtors |
1,237 |
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------- |
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5.
Creditors:
amounts falling due within one year
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31 Mar 24 |
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£ |
Other creditors |
11,716 |
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-------- |
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