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REGISTERED NUMBER: OC428403 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2023

for

SKS Audit LLP

SKS Audit LLP (Registered number: OC428403)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKS Audit LLP

General Information
for the Year Ended 30 November 2023







DESIGNATED MEMBERS: SKS Business Services Ltd
M P Chelvanaigum





REGISTERED OFFICE: 3 Sheen Road
Richmond
TW9 1AD





REGISTERED NUMBER: OC428403 (England and Wales)





ACCOUNTANTS: SKS Business Services Ltd
3 Sheen Road
Richmond Upon Thames
Surrey
TW9 1AD

SKS Audit LLP (Registered number: OC428403)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 270,276 119,689
Cash at bank - 12,849
270,276 132,538
CREDITORS
Amounts falling due within one year 5 (263,508 ) (132,476 )
NET CURRENT ASSETS 6,768 62
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

6,768

62

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

6,768

62

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 6,768 62
Amounts due from members 4 - (6,789 )
6,768 (6,727 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 November 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

SKS Audit LLP (Registered number: OC428403)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 November 2024 and were signed by:





M P Chelvanaigum - Designated member

SKS Audit LLP (Registered number: OC428403)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

SKS Audit LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The principal accounting policies adopted are set out below.

TURNOVER
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

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.

MEMBERS'PARTICIPATING INTERESTS
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

SKS Audit LLP (Registered number: OC428403)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,060 68,820
Amounts owed by group undertakings 78,600 38,106
Other debtors 17,616 12,763
270,276 119,689

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 140,187 132,476
Other creditors 123,321 -
263,508 132,476

During the year LLP entered into an invoice financing arrangement with Ecapital Commercial Finance Limited. Ecapital Commercial Finance Limited has fixed and floating charge over the property of the LLP. Balance outstanding as of 30th November 23 was £117,520 which is included in other creditors.

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

There is no loan and other debts due to members