Registered number
OC415116
Castles Education LLP
Filleted Accounts
31 December 2023
Castles Education LLP
Registered number: OC415116
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 68,022 89,399
Current assets
Debtors 4 1,931,331 1,338,333
Cash at bank and in hand 111,549 238,759
2,042,880 1,577,092
Creditors: amounts falling due within one year 5 (1,764,631) (1,730,678)
Net current assets/(liabilities) 278,249 (153,586)
Total assets less current liabilities 346,271 (64,187)
Net assets/(liabilities) attributable to members 346,271 (64,187)
Represented by:
Loans and other debts due to members 6 346,271 (64,187)
346,271 (64,187)
Total members' interests
Loans and other debts due to members 6 346,271 (64,187)
346,271 (64,187)
For the year ended 31 December 2023 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 21 May 2024 and signed on their behalf by:
John Plant Marsden
Designated member
Castles Education LLP
Notes to the Accounts
for the year ended 31 December 2023
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 2023 2022
Number Number
Average number of persons employed by the LLP 53 50
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 99,243 13,292 112,535
Additions 8,010 - 8,010
At 31 December 2023 107,253 13,292 120,545
Depreciation
At 1 January 2023 17,820 5,316 23,136
Charge for the year 26,034 3,353 29,387
At 31 December 2023 43,854 8,669 52,523
Net book value
At 31 December 2023 63,399 4,623 68,022
At 31 December 2022 81,423 7,976 89,399
4 Debtors 2023 2022
£ £
Trade debtors 897,176 1,146,100
Other debtors 1,034,155 192,233
1,931,331 1,338,333
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,667 35,833
Trade creditors 842,977 1,023,276
Other taxes and social security costs 354,014 143,758
Other creditors 540,973 527,811
1,764,631 1,730,678
6 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits 346,271 (64,187)
Amounts falling due within one year 346,271 (64,187)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Castles Education LLP is a limited liability partnership incorporated in England. Its registered office is:
Unit 2 Grange Road
Grange Valley Business Park
Batley
West Yorkshire
WF17 6LL
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