Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC437363 I F Halls J W McLarty P J Fosh J A Cantrill S D Spalding true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC437363 2023-03-31 OC437363 2024-03-31 OC437363 2023-04-01 2024-03-31 OC437363 frs-core:CurrentFinancialInstruments 2024-03-31 OC437363 frs-core:ComputerEquipment 2024-03-31 OC437363 frs-core:ComputerEquipment 2023-04-01 2024-03-31 OC437363 frs-core:ComputerEquipment 2023-03-31 OC437363 frs-core:FurnitureFittings 2024-03-31 OC437363 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC437363 frs-core:FurnitureFittings 2023-03-31 OC437363 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC437363 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC437363 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC437363 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC437363 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC437363 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC437363 1 2023-04-01 2024-03-31 OC437363 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC437363 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC437363 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC437363 frs-bus:PartnerLLP3 2023-04-01 2024-03-31 OC437363 frs-bus:PartnerLLP4 2023-04-01 2024-03-31 OC437363 frs-bus:PartnerLLP5 2023-04-01 2024-03-31 OC437363 2022-03-31 OC437363 2023-03-31 OC437363 2022-04-01 2023-03-31 OC437363 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC437363
Ceres Property LLP
Financial Statements
For The Year Ended 31 March 2024
Avant Advisory Ltd
Chartered Certified Accountants
124 City Road
London
EC1V 2NX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC437363
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,926 2,173
62,926 2,173
CURRENT ASSETS
Debtors 5 471,965 83,799
Cash at bank and in hand 209,960 24,325
681,925 108,124
Creditors: Amounts Falling Due Within One Year 6 (428,255 ) (107,560 )
NET CURRENT ASSETS (LIABILITIES) 253,670 564
TOTAL ASSETS LESS CURRENT LIABILITIES 316,596 2,737
NET ASSETS ATTRIBUTABLE TO MEMBERS 316,596 2,737
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 316,596 2,737
316,596 2,737
316,596 2,737
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 316,596 2,737
316,596 2,737
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For the year 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 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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
I F Halls
Designated Member
J W McLarty
Designated Member
P J Fosh
Designated Member
J A Cantrill
Designated Member
S D Spalding
Designated Member
06/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ceres Property LLP is a limited liability partnership, incorporated in England & Wales, registered number OC437363 . The Registered Office is Crafton House Mentmore Way, Poringland, Norwich, NR14 7XP.
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 have not identified any material uncertainties related to events or conditions that may cast significant doubt about the LLP's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of the financial statements in accordance with FRS 102 requires management to make estimates and
assumptions that affect revenue, expenses, assets and liabilities. Management use a range of factors in arriving at the
estimates and judgements including their past experience and reasonable expectations of the future.
The most significant estimates and judgements required in the preparation of the financial statements are in respect of
provisions against client receivables, recognition of accrued income, provisions in respect of claims from clients and
provisions in relation to property matters.
2.4. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss Account as they become payable in accordance with the rules of the scheme.
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2.8. Members' remuneration
The LLP agreement prescribes that the entire profit for the year is to be allocate to members. As such, the nature of
the relationship is contractual and therefore all profits are treated as 'members remuneration charged as an expense'.
2.9. Provisions for liabilities
From time to time, the LLP could be involved in disputes in the ordinary course of business which may give rise to
claims. Provision is made in the financial statements for all claims where costs are likely to be incurred and represents
the cost of defending and concluding claims.
The LLP carries professional indemnity insurance and no separate disclosure is made of the cost of claims covered by
insurance as to do so could seriously prejudice the position of the LLP.
The LLP assesses for liabilities including property dilapidation provisions for which the present value of the obligation is
provided for on a systematic basis by reference to estimated amounts until the final settlement amount crystallises.
A present obligation arises from the presence of a legal or constructive commitment that has resulted from past
events, and is provided for where the outflow of economic resources from the LLP is probable and can be reliably
estimated.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 8 (2023: 4)
8 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 - 3,236 3,236
Additions 20,989 49,390 70,379
As at 31 March 2024 20,989 52,626 73,615
Depreciation
As at 1 April 2023 - 1,063 1,063
Provided during the period 1,399 8,227 9,626
As at 31 March 2024 1,399 9,290 10,689
Net Book Value
As at 31 March 2024 19,590 43,336 62,926
As at 1 April 2023 - 2,173 2,173
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 444,677 83,799
Other debtors 27,288 -
471,965 83,799
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,941 80,536
Amounts owed to group undertakings 205,323 -
Other creditors 86,096 19,114
Taxation and social security 130,895 7,910
428,255 107,560
7. Ultimate Controlling Party
The LLP's ultimate controlling party is Ceres Group Consultancy LLP, registered number OC446662.
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