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Company No: OC436770 (England and Wales)

RINCEWIND CHARTERS LLP

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

RINCEWIND CHARTERS LLP

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

RINCEWIND CHARTERS LLP

BALANCE SHEET

As at 31 March 2024
RINCEWIND CHARTERS LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Tangible assets 3 160,852 168,169
160,852 168,169
Current assets
Debtors 4 1,027 636
Cash at bank and in hand 2,467 740
3,494 1,376
Creditors: amounts falling due within one year 5 ( 2,300) ( 1,000)
Net current assets 1,194 376
Total assets less current liabilities 162,046 168,545
Net assets attributable to members 162,046 168,545
Represented by
Loans and other debts due to members within one year
Other amounts 173,998 188,308
173,998 188,308
Members' other interests
Other reserves (11,952) (19,763)
(11,952) (19,763)
162,046 168,545
Total members' interests
Loans and other debts due to members 173,998 188,308
Members' other interests (11,952) (19,763)
162,046 168,545

For the financial period ending 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.

Members' responsibilities:

The financial statements of Rincewind Charters LLP (registered number: OC436770) were approved and authorised for issue by the Board of Directors on 07 January 2025. They were signed on its behalf by:

D J A Kane
Designated member
RINCEWIND CHARTERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
RINCEWIND CHARTERS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rincewind Charters LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period length is 1st May 2023 to 31st March 2024 (11 Months).

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

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 Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the LLP during the period 0 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 May 2023 194,626 194,626
At 31 March 2024 194,626 194,626
Accumulated depreciation
At 01 May 2023 26,457 26,457
Charge for the financial period 7,317 7,317
At 31 March 2024 33,774 33,774
Net book value
At 31 March 2024 160,852 160,852
At 30 April 2023 168,169 168,169

4. Debtors

31.03.2024 30.04.2023
£ £
Other debtors 1,027 636

5. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Trade creditors 1,190 0
Other creditors 1,110 1,000
2,300 1,000