Limited Liability Partnership registration number OC447588 (England and Wales)
YBRD LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
YBRD LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mrs M Delicata
Mr L Delicata
LLP registration number
OC447588
Registered office
3a Chestnut House
Farm Close
Shenley
Hertfordshire
United Kingdom
WD7 9AD
Accountants
Business Orchard LLP
3a Chestnut House
Farm Close
Shenley
Hertfordshire
United Kingdom
WD7 9AD
YBRD LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
YBRD LLP
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
84,899
Current assets
Debtors
4
175,691
Cash at bank and in hand
6,533
182,224
Creditors: amounts falling due within one year
5
(152,138)
Net current assets
30,086
Total assets less current liabilities
114,985
Creditors: amounts falling due after more than one year
6
(70,364)
Net assets attributable to members
44,621
Represented by:
Members' other interests
Members' capital classified as equity
(107,057)
Other reserves classified as equity
151,678
44,621

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial Period ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 27 November 2024 and are signed on their behalf by:
27 November 2024
Mrs M Delicata
Designated member
Limited Liability Partnership registration number OC447588 (England and Wales)
YBRD LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

YBRD LLP is a limited liability partnership incorporated in England and Wales. The registered office is 3a Chestnut House, Farm Close, Shenley, Hertfordshire, United Kingdom, WD7 9AD.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

The partnership's accounts are prepared for a period shorter than one year.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YBRD LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average number of persons (excluding members) employed by the partnership during the Period was:

2024
Number
Total
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 May 2023
-
Additions
89,367
At 31 March 2024
89,367
Depreciation and impairment
At 31 May 2023
-
Depreciation charged in the Period
4,468
At 31 March 2024
4,468
Carrying amount
At 31 March 2024
84,899
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
175,691
YBRD LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Other creditors
152,138
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
70,364

 

7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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