Registered number
OC420934
Rapidtags Technology LLP
Filleted Accounts
31 March 2024
Rapidtags Technology LLP
Registered number: OC420934
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 12,475 15,158
Creditors: amounts falling due within one year 2 (706) (713)
Net current assets 11,769 14,445
Total assets less current liabilities 11,769 14,445
Net assets attributable to members 11,769 14,445
Represented by:
Loans and other debts due to members 3 11,769 14,445
11,769 14,445
Total members' interests
Loans and other debts due to members 3 11,769 14,445
11,769 14,445
Average number of employees - -
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 1 November 2024 and signed on their behalf by:
Aidan Cole
Designated member
Rapidtags Technology LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 706 713
3 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 11,769 14,445
Amounts falling due within one year 11,769 14,445
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
4 Other information
Rapidtags Technology LLP is a limited liability partnership incorporated in England. Its registered office is:
73 Kingsway North
Braunstone
Leicestershire
LE3 3BE
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