Acorah Software Products - Accounts Production 16.1.200 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 OC349151 Mr Simon Corbett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC349151 2023-04-05 OC349151 2024-04-05 OC349151 2023-04-06 2024-04-05 OC349151 frs-core:CurrentFinancialInstruments 2024-04-05 OC349151 frs-core:ComputerEquipment 2024-04-05 OC349151 frs-core:ComputerEquipment 2023-04-06 2024-04-05 OC349151 frs-core:ComputerEquipment 2023-04-05 OC349151 frs-core:FurnitureFittings 2024-04-05 OC349151 frs-core:FurnitureFittings 2023-04-06 2024-04-05 OC349151 frs-core:FurnitureFittings 2023-04-05 OC349151 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-05 OC349151 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC349151 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-05 OC349151 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC349151 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-06 2024-04-05 OC349151 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 OC349151 frs-bus:SmallEntities 2023-04-06 2024-04-05 OC349151 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC349151 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 OC349151 frs-countries:EnglandWales 2023-04-06 2024-04-05 OC349151 frs-bus:PartnerLLP1 2023-04-06 2024-04-05 OC349151 2022-04-05 OC349151 2023-04-05 OC349151 2022-04-06 2023-04-05 OC349151 frs-core:CurrentFinancialInstruments 2023-04-05
Registered number: OC349151
The Underdog Agency LLP
Unaudited Financial Statements
For The Year Ended 5 April 2024
Chartered Certified Accountants & Registered Auditors
Hillcrest
Castle Cary Road
West Lydford
Somerset
TA11 6DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC349151
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,929 64,304
20,929 64,304
CURRENT ASSETS
Debtors 5 74,400 436,268
Cash at bank and in hand 11,578 12,624
85,978 448,892
Creditors: Amounts Falling Due Within One Year 6 (216,380 ) (589,238 )
NET CURRENT ASSETS (LIABILITIES) (130,402 ) (140,346 )
TOTAL ASSETS LESS CURRENT LIABILITIES (109,473 ) (76,042 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (109,473 ) (76,042 )
REPRESENTED BY:
Equity
Members' other interests
Members' capital (73,001) (76,042)
Other reserves (36,472) -
(109,473) (76,042)
TOTAL MEMBERS' INTEREST
Amounts due from members (26,925) -
Members' other interests (109,473) (76,042)
(136,398) (76,042)
Page 1
Page 2
For the year ending 5 April 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 Profit and Loss Account.
On behalf of the members
Mr Simon Corbett
Designated Member
9 December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Underdog Agency LLP is a limited liability partnership, incorporated in England & Wales, registered number OC349151 . The Registered Office is Tithe Barn, Chequers Lane, Eversley Cross, Hook, Hampshire, RG27 0NR.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 SL over term of lease
Fixtures & Fittings SL over 4 years
Computer Equipment SL over 4 years
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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: 2 (2023: )
2 -
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 6 April 2023 159,646 28,575 48,273 236,494
As at 5 April 2024 159,646 28,575 48,273 236,494
...CONTINUED
Page 3
Page 4
Depreciation
As at 6 April 2023 122,659 20,027 29,504 172,190
Provided during the period 31,007 4,513 7,855 43,375
As at 5 April 2024 153,666 24,540 37,359 215,565
Net Book Value
As at 5 April 2024 5,980 4,035 10,914 20,929
As at 6 April 2023 36,987 8,548 18,769 64,304
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 900 43,333
Amounts owed by group undertakings - 375,601
Amounts owed by participating interests 39,685 -
Other debtors 33,815 17,334
74,400 436,268
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,023 457,854
Amounts owed to participating interests 100,000 -
Other creditors 11,000 35,144
Taxation and social security 88,357 96,240
216,380 589,238
Page 4