Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 OC376554 Mr John Connaughton true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC376554 2023-02-28 OC376554 2024-02-28 OC376554 2023-03-01 2024-02-28 OC376554 frs-core:CurrentFinancialInstruments 2024-02-28 OC376554 frs-core:Non-currentFinancialInstruments 2024-02-28 OC376554 frs-core:FurnitureFittings 2024-02-28 OC376554 frs-core:FurnitureFittings 2023-03-01 2024-02-28 OC376554 frs-core:FurnitureFittings 2023-02-28 OC376554 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-28 OC376554 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-28 OC376554 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 OC376554 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-02-28 OC376554 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-01 2024-02-28 OC376554 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 OC376554 frs-bus:SmallEntities 2023-03-01 2024-02-28 OC376554 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 OC376554 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 OC376554 1 2023-03-01 2024-02-28 OC376554 frs-core:OtherProvisionsContingentLiabilities 2023-03-01 2024-02-28 OC376554 frs-core:OtherProvisionsContingentLiabilities 2023-02-28 OC376554 frs-core:OtherProvisionsContingentLiabilities 2024-02-28 OC376554 frs-countries:EnglandWales 2023-03-01 2024-02-28 OC376554 frs-bus:PartnerLLP1 2023-03-01 2024-02-28 OC376554 2022-02-28 OC376554 2023-02-28 OC376554 2022-03-01 2023-02-28 OC376554 frs-core:CurrentFinancialInstruments 2023-02-28 OC376554 frs-core:Non-currentFinancialInstruments 2023-02-28
Registered number: OC376554
Illuminas Partners LLP
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: OC376554
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,139 27,047
6,139 27,047
CURRENT ASSETS
Debtors 5 1,206,471 280,402
Cash at bank and in hand 222,242 76,570
1,428,713 356,972
Creditors: Amounts Falling Due Within One Year 6 (1,676,886 ) (605,702 )
NET CURRENT ASSETS (LIABILITIES) (248,173 ) (248,730 )
TOTAL ASSETS LESS CURRENT LIABILITIES (242,034 ) (221,683 )
Creditors: Amounts Falling Due After More Than One Year 7 (46,875 ) (93,243 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 8 (29,669 ) (100,064 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (318,578 ) (414,990 )
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 32,833 11,881
32,833 11,881
Equity
Members' other interests
Members' capital 15,000 15,000
Other reserves (366,411) (441,871)
(351,411) (426,871)
(318,578) (414,990)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 32,833 11,881
Members' other interests (351,411) (426,871)
(318,578) (414,990)
Page 1
Page 2
For the year ending 28 February 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
On behalf of the members
Mr John Connaughton
Designated Member
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Illuminas Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number OC376554 . The Registered Office is 46 Eagle Lane, London, E11 1PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold period of lease
Fixtures & Fittings 10% to 33% per annum
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 10 (2023: 15)
10 15
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 599,609 374,738 974,347
Additions - 5,419 5,419
As at 28 February 2024 599,609 380,157 979,766
Depreciation
As at 1 March 2023 574,183 373,117 947,300
Provided during the period 25,426 901 26,327
As at 28 February 2024 599,609 374,018 973,627
...CONTINUED
Page 3
Page 4
Net Book Value
As at 28 February 2024 - 6,139 6,139
As at 1 March 2023 25,426 1,621 27,047
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 320,578 246,850
Prepayments and accrued income 881,340 5,269
Other debtors 4,553 28,283
1,206,471 280,402
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 130,226 239,562
Other loans 62,500 130,936
Other taxes and social security 94,628 70,081
Other creditors - 74,741
Accruals and deferred income 1,389,532 90,382
1,676,886 605,702
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 46,875 93,243
8. Provisions for Liabilities
Other Provisions Total
£ £
As at 1 March 2023 100,064 100,064
Reversals (70,395 ) (70,395)
Balance at 28 February 2024 29,669 29,669
2024
2023
£
£
Provisions
29,669
image
100,064
image
9. Contingent Liabilities
The LLP had no contingent liabilities at 28 February 2024 or 28 February 2023.
10. Capital Commitments
The LLP had no capital commitments at 28 February 2024 or 28 February 2023.
Page 4
Page 5
11. Related Party Transactions
During the year the partners have loaned £20,952 to the LLP. Other than this, there were no transactions with related parties during the year which require disclosure under FRS 102 Section 1A.
12. Ultimate Controlling Party
In the opinion of the designated members, there is no ultimate controlling party.
13. Other reserves classified as equity
Other reserves consist of retained losses totalling £1,217,085 (2023 - £1,292,546) and a capital reserve totalling £850,665 (2023 -£850,665).
Page 5