Acorah Software Products - Accounts Production 16.0.110 false true true 30 March 2023 31 March 2022 true No description of principal activity 31 March 2023 30 March 2024 30 March 2024 OC392587 Mr PATRICK CHRISTOPHER ARMSTRONG Mr EUGEN FROSTIAK iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC392587 2023-03-30 OC392587 2024-03-30 OC392587 2023-03-31 2024-03-30 OC392587 frs-core:Non-currentFinancialInstruments 2024-03-30 OC392587 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-31 2024-03-30 OC392587 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-31 2024-03-30 OC392587 frs-bus:AbridgedAccounts 2023-03-31 2024-03-30 OC392587 frs-bus:SmallEntities 2023-03-31 2024-03-30 OC392587 frs-bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-30 OC392587 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-30 OC392587 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-03-31 2024-03-30 OC392587 frs-countries:EnglandWales 2023-03-31 2024-03-30 OC392587 frs-bus:PartnerLLP1 2023-03-31 2024-03-30 OC392587 frs-bus:PartnerLLP2 2023-03-31 2024-03-30 OC392587 2022-03-30 OC392587 2023-03-30 OC392587 2022-03-31 2023-03-30 OC392587 frs-core:Non-currentFinancialInstruments 2023-03-30
Registered number: OC392587
PAEF LLP
Members' Report and
Unaudited Abridged Financial Statements
For The Year Ended 30 March 2024
FAROS CAPITAL
Office 7
35-37 Ludgate Hill
London
England
EC4M 7JN
Contents
Page
LLP Information 1
Members' Report 2
Accountant's Report 3
Abridged Profit and Loss Account 4
Abridged Balance Sheet 5—6
Notes to the Abridged Financial Statements 7
Page 1
LLP Information
Designated Members Mr PATRICK CHRISTOPHER ARMSTRONG
Mr EUGEN FROSTIAK
LLP Registration Number OC392587
Registered Office 11-12 Waterloo Place
London
SW1Y 4AU
Business 11-12 Waterloo Place
London
SW1Y 4AU
Accountants FAROS CAPITAL
Office 7
35-37 Ludgate Hill
London
England
EC4M 7JN
Page 1
Page 2
Members' Report
The members present their report and the financial statements for the year ended 30 March 2024.
Members
The designated members who held office during the year were as follows:
Mr PATRICK CHRISTOPHER ARMSTRONG
Mr EUGEN FROSTIAK
 
Statement of Members' Responsibilities
The members are responsible for preparing the financial statements in accordance with applicable law and regulations.Company law as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law as applied to Limited Liability Partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss for that period. In preparing the financial statements the members are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The members are responsible for the maintenance and integrity of the corporate and financial information included on the LLP's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the members by
Mr PATRICK CHRISTOPHER ARMSTRONG
Designated Member
04/10/2024
Page 2
Page 3
Accountant's Report
In accordance with the engagement letter dated 11 September 2024, and in order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have compiled the financial statements of the LLP from the accounting records and information and explanations you have given to us.
This report is made to the partners in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the partners the financial statements that we have been engaged to compile, to report to the partners that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the partnership and the partners for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 March 2024 your duty to ensure that the partnership has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the LLP is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
04/10/2024
FAROS CAPITAL
Office 7
35-37 Ludgate Hill
London
England
EC4M 7JN
Page 3
Page 4
Abridged Profit and Loss Account
2024 2023
Notes £ £
Administrative expenses (600 ) (360 )
OPERATING LOSS AND LOSS FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS (600 ) (360 )
The notes on page 7 form part of these financial statements.
Page 4
Page 5
Abridged Balance Sheet
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 - 303,238
- 303,238
Creditors: Amounts Falling Due Within One Year (600 ) (360 )
NET CURRENT ASSETS (LIABILITIES) (600 ) 302,878
TOTAL ASSETS LESS CURRENT LIABILITIES (600 ) 302,878
Creditors: Amounts Falling Due After More Than One Year - (256,042 )
NET (LIABILITIES)/ASSETS ATTRIBUTABLE TO MEMBERS (600 ) 46,836
REPRESENTED BY:
Equity
Members' other interests
Members' capital 360 47,196
Other reserves (960) (360)
(600) 46,836
TOTAL MEMBERS' INTEREST
Members' other interests (600) 46,836
(600) 46,836
Page 5
Page 6
For the year ending 30 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
All of the LLP's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mr PATRICK CHRISTOPHER ARMSTRONG
Designated Member
04/10/2024
The notes on page 7 form part of these financial statements.
Page 6
Page 7
Notes to the Abridged Financial Statements
1. General Information
PAEF LLP is a limited liability partnership, incorporated in England & Wales, registered number OC392587 . The Registered Office is 11-12 Waterloo Place, London, SW1Y 4AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Going Concern Disclosure
The members believe that the going concern basis is not appropriate as the LLP has no realistic alternative but to cease trading.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due after more than one year
Other debtors - 303,238
Amount of £256 042.00 previously recorded as a loan to the members of LLP has been offset to the amount borowed from the members
Page 7