Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 OC399386 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC399386 2023-04-30 OC399386 2024-04-30 OC399386 2023-05-01 2024-04-30 OC399386 frs-core:CurrentFinancialInstruments 2024-04-30 OC399386 frs-core:Non-currentFinancialInstruments 2024-04-30 OC399386 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 OC399386 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC399386 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 OC399386 frs-bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC399386 frs-bus:LimitedLiabilityPartnershipsSORP 2023-05-01 2024-04-30 OC399386 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 OC399386 frs-bus:SmallEntities 2023-05-01 2024-04-30 OC399386 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC399386 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC399386 frs-countries:EnglandWales 2023-05-01 2024-04-30 OC399386 frs-bus:PartnerLLP1 2023-05-01 2024-04-30 OC399386 2022-04-30 OC399386 2023-04-30 OC399386 2022-05-01 2023-04-30 OC399386 frs-core:CurrentFinancialInstruments 2023-04-30 OC399386 frs-core:Non-currentFinancialInstruments 2023-04-30
Registered number: OC399386
Rey LLP
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC399386
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 550,000 550,000
550,000 550,000
CURRENT ASSETS
Debtors 5 41,839 41,692
Cash at bank and in hand 140 6,493
41,979 48,185
Creditors: Amounts Falling Due Within One Year 6 (29,641 ) (27,181 )
NET CURRENT ASSETS (LIABILITIES) 12,338 21,004
TOTAL ASSETS LESS CURRENT LIABILITIES 562,338 571,004
Creditors: Amounts Falling Due After More Than One Year 7 (304,429 ) (307,317 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 257,909 263,687
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 7,369 6,523
7,369 6,523
Equity
Members' other interests
Members' capital 172,038 178,662
Revaluation reserve 78,502 78,502
250,540 257,164
257,909 263,687
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 7,369 6,523
Members' other interests 250,540 257,164
257,909 263,687
Page 1
Page 2
For the year ending 30 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 Rajeev Sharma
Partner
10 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
Rey LLP is a limited liability partnership, incorporated in England & Wales, registered number OC399386 . The Registered Office is 27, Sompting Avenue, Worthing,, West Sussex, BN14 8HS.
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:
Freehold 550,000
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 May 2023 550,000
As at 30 April 2024 550,000
Net Book Value
As at 30 April 2024 550,000
As at 1 May 2023 550,000
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 41,839 41,692
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 640
Other creditors 29,641 26,541
29,641 27,181
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 304,429 307,317
8. Provisions for Liabilities
Page 4