Registered number
OC323063
Intelligent Profile LLP
Filleted Accounts
31 March 2024
Intelligent Profile LLP
Registered number: OC323063
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,229 782
Current assets
Debtors 4 24,585 33,208
Cash at bank and in hand 3,211 1,492
27,796 34,700
Creditors: amounts falling due within one year 5 (53,481) (58,721)
Net current liabilities (25,685) (24,021)
Total assets less current liabilities (24,456) (23,239)
Creditors: amounts falling due after more than one year 6 (7,443) (11,234)
Net liabilities attributable to members (31,899) (34,473)
Represented by:
Loans and other debts due to members 7 (31,899) (34,473)
(31,899) (34,473)
Total members' interests
Loans and other debts due to members 7 (31,899) (34,473)
(31,899) (34,473)
For the period 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 22 October 2024 and signed on their behalf by:
E Parker
Designated member
Intelligent Profile LLP
Notes to the Accounts
for the period from 1 March 2023 to 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. Turnover includes revenue earned from the 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.
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:
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 6,172
Additions 856
At 31 March 2024 7,028
Depreciation
At 1 March 2023 5,390
Charge for the period 409
At 31 March 2024 5,799
Net book value
At 31 March 2024 1,229
At 28 February 2023 782
4 Debtors 2024 2023
£ £
Trade debtors 17,085 26,908
Other debtors 7,500 6,300
24,585 33,208
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,986 10,037
Other taxes and social security costs 24,611 24,894
Other creditors 12,884 23,790
53,481 58,721
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,443 11,234
7 Loans and other debts due to members 2024 2023
£ £
Loans from members (31,899) (34,473)
Amounts falling due within one year (31,899) (34,473)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Intelligent Profile LLP is a limited liability partnership incorporated in England. Its registered office is:
Chance Cottage, Long Mill Lane
Dunks Green
Tonbridge
Kent
TN11 9SA
Intelligent Profile LLP OC323063 false 2023-03-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 E Parker No description of principal activity OC323063 2022-03-01 2023-02-28 OC323063 core:WithinOneYear 2023-02-28 OC323063 core:AfterOneYear 2023-02-28 OC323063 1 2023-02-28 OC323063 2023-03-01 2024-03-31 OC323063 bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-03-31 OC323063 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-03-31 OC323063 bus:PartnerLLP20 2023-03-01 2024-03-31 OC323063 3 2023-03-01 2024-03-31 OC323063 1 2023-03-01 2024-03-31 OC323063 2 2023-03-01 2024-03-31 OC323063 4 2023-03-01 2024-03-31 OC323063 core:PlantMachinery 2023-03-01 2024-03-31 OC323063 countries:England 2023-03-01 2024-03-31 OC323063 bus:FRS102 2023-03-01 2024-03-31 OC323063 bus:FilletedAccounts 2023-03-01 2024-03-31 OC323063 2024-03-31 OC323063 core:WithinOneYear 2024-03-31 OC323063 core:AfterOneYear 2024-03-31 OC323063 1 2024-03-31 OC323063 core:PlantMachinery 2024-03-31 OC323063 2023-02-28 OC323063 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure