Registration number:
Project Trafford LLP
for the Year Ended 31 March 2024
Project Trafford LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Project Trafford LLP
Limited liability partnership information
Designated members |
I K S Painting M Sitch |
Members |
M D Chard S J Tucker N R Collins K Cohen S P Natkus J J deHavilland J E Hall Mr R D Shepherd J Kenworthy Mr P A Newton Mrs K L Ventham |
LLP number |
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Registered office |
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Project Trafford LLP
Limited liability partnership information
Accountants |
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Project Trafford LLP
(Registration number: OC342692)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
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( |
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Net assets attributable to members |
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Represented by: |
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Members’ other interests |
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Other reserves |
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10,498,499 |
16,809,029 |
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Total members' interests |
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Equity |
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10,498,499 |
16,809,029 |
For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Project Trafford LLP (registered number OC342692) were approved by the
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Project Trafford LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
Project Trafford LLP (LLP number:OC342692) is a limited liability partnership incorporated in England and Wales. Its registered office is The Blade, Abbey Square, Reading, , RG1 3BE.
The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting by Limited Liability Partnerships’ issued in December 2021.
The functional currency of Project Trafford LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
The presentation currency of the financial statements is the Pounds Sterling (£).
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The trade and assets of Project Trafford LLP were purchased by Stantec UK Limited on 1st April 2022. As a result, the members have concluded that it is not appropriate to adopt a going concern basis of preparation in these financial statements.
No adjustments were made to these financial statements as a result of preparing them on a basis other than that
of a going concern and the principal accounting policies have been applied:
Project Trafford LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Accounting policies |
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Turnover, which excludes discounts and value added tax, represents the invoiced value of services as derived from ordinary activities.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Fixed asset investments
In the limited liability partnership balance sheet, investments in subsidiaries and associates are measured at cost less impairment.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Project Trafford LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Project Trafford LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Auditor's remuneration |
2024 |
2023 |
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Audit of the financial statements |
- |
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Debtors |
2024 |
2023 |
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Other debtors |
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Total current trade and other debtors |
10,464,000 |
16,753,766 |
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Accruals and deferred income |
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Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.