Limited Liability Partnership registration number OC437957 (England and Wales)
RE:SHAPE GENERATION LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
RE:SHAPE GENERATION LLP
CONTENTS
Page
Balance sheet
1
Reconciliation of members' interests
2 - 3
Notes to the financial statements
4 - 5
RE:SHAPE GENERATION LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
2
3,803
12,234
Cash at bank and in hand
5,242
64,409
9,045
76,643
Creditors: amounts falling due within one year
3
(3,390)
(111,091)
Net current assets/(liabilities) and net assets/(liabilities) attributable to members
5,655
(34,448)
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
5,655
(34,448)

For the financial year ended 31 March 2024 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 17 October 2024 and are signed on their behalf by:
17 October 2024
Generation Partners LLP
Kelaty Asset Management Limited
Designated member
Designated Member
Limited Liability Partnership registration number OC437957 (England and Wales)
RE:SHAPE GENERATION LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Current financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2024
£
£
£
Members' interests at 1 April 2023
(34,448)
(34,448)
(34,448)
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
40,103
40,103
40,103
Result for the financial year available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
5,655
5,655
5,655
Members' interests at 31 March 2024
5,655
5,655
5,655
RE:SHAPE GENERATION LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Prior financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2023
£
£
£
Members' interests at 1 April 2022
(3,457)
(3,457)
(3,457)
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
(30,991)
(30,991)
(30,991)
Result for the financial year available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
(34,448)
(34,448)
(34,448)
Members' interests at 31 March 2023
(34,448)
(34,448)
(34,448)
RE:SHAPE GENERATION LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Limited liability partnership information

Re:Shape Generation LLP is a limited liability partnership incorporated in England and Wales. The registered office is 1st Floor, Gallery Court, 28 Arcadia Avenue, London, N3 2FG.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RE:SHAPE GENERATION LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,803
12,234
3
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
390
108,091
Other creditors
3,000
3,000
3,390
111,091
4
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2024-03-312023-04-01false17 October 2024CCH SoftwareCCH Accounts Production 2024.210falsefalse0OC4379572023-04-012024-03-31OC4379572024-03-31OC437957bus:PartnerLLP12023-04-012024-03-31OC437957bus:PartnerLLP22023-04-012024-03-31OC437957bus:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC437957bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC437957bus:FRS1022023-04-012024-03-31OC437957bus:AuditExemptWithAccountantsReport2023-04-012024-03-31OC437957bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:shares