Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand | 4 |
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58,017 | 23,318 | |||
Creditors: amounts falling due within one year | 5 | (
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(
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Net current assets | 41,555 | 19,734 | ||
Total assets less current liabilities | 41,555 | 19,734 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Other amounts | 18,834 | 18,834 | ||
18,834 | 18,834 | |||
Members' other interests | ||||
Members' capital classified as equity | 900 | 900 | ||
Other reserves | 21,821 | 0 | ||
22,721 | 900 | |||
41,555 | 19,734 | |||
Total members' interests | ||||
Loans and other debts due to members | 18,834 | 18,834 | ||
Members' other interests | 22,721 | 900 | ||
41,555 | 19,734 |
Members' responsibilities:
The financial statements of Osiris Medical Imaging LLP (registered number:
Dr T A P Sudarshan
Designated member |
EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |||
---|---|---|---|---|---|
Members' capital (classified as equity) | Other reserves | Total | Other amounts | Total | |
£ | £ | £ | £ | £ | |
Amounts due to members | 19,061 | ||||
Balance at 01 April 2022 | 900 | 0 | 900 | 19,061 | 19,961 |
Profit for the financial year available for discretionary division among members | 0 | 21,617 | 21,617 | 0 | 21,617 |
Members' interest after profit for the financial year | 900 | 21,617 | 22,517 | 19,061 | 41,578 |
Division of profit | 0 | (21,617) | (21,617) | 21,617 | 0 |
Drawings | 0 | 0 | 0 | (20,109) | (20,109) |
Transfers | 0 | 0 | 0 | (1,735) | (1,735) |
Amounts due to members | 18,834 | ||||
Balance at 31 March 2023 | 900 | 0 | 900 | 18,834 | 19,734 |
Profit for the financial year available for discretionary division among members | 0 | 21,821 | 21,821 | 0 | 21,821 |
Members' interest after profit for the financial year | 900 | 21,821 | 22,721 | 18,834 | 41,555 |
Amounts due to members | 18,834 | ||||
Balance at 31 March 2024 | 900 | 21,821 | 22,721 | 18,834 | 41,555 |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Osiris Medical Imaging LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Revenue is recognised when the LLP has entitlement to income in exchange for the provision of services.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
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.
The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.
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 Profit and Loss Account 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'.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.