Limited Liability Partnership registration number OC355814 (England and Wales)
LAVENDER PICTURES UK LLP
Annual report and unaudited financial statements
For the year ended 31 March 2024
Pages for filing with registrar
LAVENDER PICTURES UK LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LAVENDER PICTURES UK LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
11,164
8,689
Tangible assets
5
72
96
11,236
8,785
Current assets
Cash at bank and in hand
3,457
7,577
Creditors: amounts falling due within one year
6
(9,655)
(58,549)
Net current liabilities
(6,198)
(50,972)
Total assets less current liabilities and net assets/(liabilities) attributable to members
5,038
(42,187)
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
100
100
Other amounts
81,376
21,656
81,476
21,756
Members' other interests
Other reserves classified as equity
(76,438)
(63,943)
5,038
(42,187)

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 year ended 31 March 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) 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.

LAVENDER PICTURES UK LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the members and authorised for issue on 3 December 2024 and are signed on their behalf by:
03 December 2024
Sir B  Kingsley
Designated member
Limited Liability Partnership registration number OC355814 (England and Wales)
LAVENDER PICTURES UK LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

Lavender Pictures UK LLP is a limited liability partnership incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

 

The LLP's principal activities are disclosed in the Members' Report.

1.1
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. The principal accounting policies adopted are set out below.

1.2
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.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.3
Intangible fixed assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Intellectual property
10 years straight line
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.

LAVENDER PICTURES UK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

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:

Fixtures and fittings
25% reducing balance
2
Judgements and key sources of estimation uncertainty

In the application of the LLP’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees
2024
2023
Number
Number
Total
-
0
-
0
4
Intangible fixed assets
Intellectual property
£
Cost
At 1 April 2023
8,949
Additions
3,499
At 31 March 2024
12,448
Amortisation and impairment
At 1 April 2023
260
Amortisation charged for the year
1,024
At 31 March 2024
1,284
Carrying amount
At 31 March 2024
11,164
At 31 March 2023
8,689
LAVENDER PICTURES UK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
2,805
Depreciation and impairment
At 1 April 2023
2,709
Depreciation charged in the year
24
At 31 March 2024
2,733
Carrying amount
At 31 March 2024
72
At 31 March 2023
96
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
9,655
58,549
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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