Limited Liability Partnership registration number OC446573 (England and Wales)
Appold Members LLP
Members' Report and Unaudited Financial Statements
For the period from incorporation on 27 March 2023 to 30 April 2024
Appold Members LLP
Limited liability partnership information
Designated members
M.J. Meadows
T. Stovold
LLP registration number
OC446573
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Appold Members LLP
Contents
Page
Members' report
1
Members' responsibilities statement
2
Income statement
3
Statement of financial position
4
Reconciliation of members' interests
5
Notes to the financial statements
6 - 7
Appold Members LLP
Members' Report
For the period ended 30 April 2024
Page 1

The members present their annual report and financial statements for the period ended 30 April 2024.

Principal activities

The Limited Liability Partnership commenced activities on 1 July 2023.

 

The principal activity of the LLP is the provision of working capital to related entities.

Members' drawings, contributions and repayments

Under the limited liability partnership deed the board can pass a decision to distribute some or all of the accumulated profits to individual members. This is subject to the cash requirements of the business. The members capital requirement is set out in the LLP deed and is mainly based on capital required. There is no opportunity for appreciation of any capital subscribed.

Designated members

The designated members who held office during the period and up to the date of signature of the financial statements were as follows:

M.J. Meadows
(Appointed 27 March 2023)
T. Stovold
(Appointed 27 March 2023)
Approved by the members on 24 December 2024 and signed on behalf by:
24 December 2024
M.J. Meadows
Designated Member
Appold Members LLP
Members' Responsibilities Statement
For the period ended 30 April 2024
Page 2

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

 

 

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Appold Members LLP
Income statement
For the period ended 30 April 2024
Page 3
Period
ended
30 April
2024
£
Interest receivable and similar income
481,549
Profit for the financial period before members' remuneration and profit shares
481,549
Members' remuneration charged as an expense
(481,549)
Result for the financial period available for discretionary division among members
-

The income statement has been prepared on the basis that all operations are continuing operations.

 

The LLP has taken advantage of FRS 102 section 3 paragraph 3.19 to present only an income statement as it

has no items of other comprehensive income.

 

Appold Members LLP
Statement of Financial Position
As at 30 April 2024
30 April 2024
Page 4
2024
Notes
£
£
Current assets
Debtors
3
7,500,000
Cash at bank and in hand
2,791,950
Net assets
10,291,950
Represented by:
Loans and other debts due to members within one year
Loans from members
9,810,401
Other amounts
481,549
10,291,950

For the financial period ended 30 April 2024 the limited liability partnership 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 in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 24 December 2024 and are signed on their behalf by:
24 December 2024
M.J. Meadows
Designated member
Limited Liability Partnership registration number OC446573 (England and Wales)
Appold Members LLP
Reconciliation of Members' Interests
For the period ended 30 April 2024
Page 5
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Loans from members
Other amounts
Total
2024
£
£
£
Members' remuneration charged as an expense
-
481,549
481,549
Members' interests after profit for the year
-
481,549
481,549
Loans from members
24,577,605
-
24,577,605
Repayments of loans
(14,767,204)
-
(14,767,204)
Members' interests at 30 April 2024
9,810,401
481,549
10,291,950
Appold Members LLP
Notes to the Financial Statements
For the period ended 30 April 2024
Page 6
1
Accounting policies
Limited liability partnership information

Appold Members LLP is a limited liability partnership incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Reporting period

These financial statements have been prepared for a period of 13 months as it is the first period of accounts.

1.2
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.

1.3
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
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.

 

Amounts received from members not linked to participating interests are classified as loans from members.

Appold Members LLP
Notes to the Financial Statements (Continued)
For the period ended 30 April 2024
1
Accounting policies
(Continued)
Page 7
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

Basic financial instruments are measured at amortised cost. The LLP has no other financial instruments or basic financial instruments measured at fair value.

2
Employees

There were no employees during the period.

3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
7,500,000

During the period the LLP loaned £7,500,000 to an LLP with members in common. The loan is repayable on demand. Interest is charged at a rate of 2.5% above the Sterling Overnight Index Average (SONIA). Interest of £481,549 was receivable on the loan during the period. The balance at the period end was £7,500,000.

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