Registered number
OC403276
ISK Business Partnership LLP
Filleted Accounts
31 March 2024
ISK Business Partnership LLP
Registered number: OC403276
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 2,240 1,163
Net current assets 2,240 1,163
Total assets less current liabilities 2,240 1,163
Net assets attributable to members 2,240 1,163
Represented by:
Loans and other debts due to members 3 2,240 1,163
Members' other interests
Other reserves - -
2,240 1,163
Total members' interests
Loans and other debts due to members 3 2,240 1,163
Members' other interests - -
2,240 1,163
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 14 August 2024 and signed on their behalf by:
I S Kular
Designated member
ISK Business Partnership LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 2 2
3 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 2,240 1,163
Amounts falling due within one year 2,240 1,163
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
4 Other information
ISK Business Partnership LLP is a limited liability partnership incorporated in England. Its registered office is:
1 Bransford Rise
Catherine-de-Barnes
Solihull
West Midlands
B91 2TP
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