Limited Liability Partnership registration number OC398150 (England and Wales)
ROUNDTABLE GLOBAL LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
ROUNDTABLE GLOBAL LLP
CONTENTS
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 9
ROUNDTABLE GLOBAL LLP
BALANCE SHEET
AS AT 29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,283
1,756
Current assets
Debtors
4
13,919
60,097
Cash at bank and in hand
3,938
-
17,857
60,097
Creditors: amounts falling due within one year
5
(22,659)
(29,926)
Net current (liabilities)/assets
(4,802)
30,171
Total assets less current liabilities
(2,519)
31,927
Creditors: amounts falling due after more than one year
6
(28,058)
(39,668)
Net liabilities attributable to members
(30,577)
(7,741)
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
(152,579)
(250,924)
Other amounts
122,002
243,183
(30,577)
(7,741)
Total members' interests
Loans and other debts due to members
(30,577)
(7,741)
(30,577)
(7,741)

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 29 February 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 and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

ROUNDTABLE GLOBAL LLP
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the members and authorised for issue on 16 January 2025 and are signed on their behalf by:
16 January 2025
Ms T J Kelly
Designated member
Limited Liability Partnership registration number OC398150 (England and Wales)
ROUNDTABLE GLOBAL LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital
Other amounts
Total
Total
2024
£
£
£
£
Amounts due to members
243,183
Members' interests at 1 March 2023
-
(250,924)
243,183
(7,741)
(7,741)
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
-
184,550
184,550
184,550
Loss for the financial year available for discretionary division among members
(121,181)
-
-
-
(121,181)
Members' interests after loss and remuneration for the year
(121,181)
(250,924)
427,733
176,809
55,628
Allocation of loss for the financial year
121,181
-
(121,181)
(121,181)
-
Repayment of debt (including members' capital classified as a liability)
-
98,345
-
98,345
98,345
Drawings on account and distributions of profit
-
-
(184,550)
(184,550)
(184,550)
Members' interests at 29 February 2024
-
(152,579)
122,002
(30,577)
(30,577)
Amounts due to members
122,002
122,002
ROUNDTABLE GLOBAL LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital
Other amounts
Total
Total
2023
£
£
£
£
Amounts due to members
153,631
Members' interests at 1 March 2022
-
(188,337)
153,631
(34,706)
(34,706)
Profit for the financial year available for discretionary division among members
89,552
-
-
-
89,552
Members' interests after profit for the year
89,552
(188,337)
153,631
(34,706)
54,846
Allocation of profit for the financial year
(89,552)
-
89,552
89,552
-
Repayment of debt (including members' capital classified as a liability)
-
(62,587)
-
(62,587)
(62,587)
Members' interests at 28 February 2023
-
(250,924)
243,183
(7,741)
(7,741)
Amounts due to members
243,183
243,183
ROUNDTABLE GLOBAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
1
Accounting policies
Limited liability partnership information

Roundtable Global LLP is a limited liability partnership incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
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.

1.2
Turnover

Turnover represents fees receivables for services provided during the year and arises from continuing activities in the UK, stated net of value added tax. Fees are recognised as the service is provided and in accordance with the limited liability partnership's contractual entitlement.

1.3
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.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. [Amounts payable to members under employment contracts and unavoidable interest on members capital are charged to “members remuneration charged as an expense” in the relevant year].

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ROUNDTABLE GLOBAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 6 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computer equipments
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ROUNDTABLE GLOBAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 7 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
-
0
-
0
ROUNDTABLE GLOBAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 8 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
5,534
Additions
1,160
At 29 February 2024
6,694
Depreciation and impairment
At 1 March 2023
3,778
Depreciation charged in the year
633
At 29 February 2024
4,411
Carrying amount
At 29 February 2024
2,283
At 28 February 2023
1,756
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,919
60,097
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,610
8,238
Trade creditors
-
163
Taxation and social security
730
9,956
Other creditors
10,319
11,569
22,659
29,926

The bank loan is a Bounce Back Loan which is repayable in equal instalments over 3 years. The loan is guaranteed by the government and carries an interest rate of 2.5% per annum.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
28,058
39,668
ROUNDTABLE GLOBAL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 9 -

The bank loan is a Bounce Back Loan which is repayable in equal instalments over 3 years. The loan is guaranteed by the government and carries an interest rate of 2.5% per annum.

7
Loans and other debts due to members
2024
2023
£
£
Analysis of loans
Amounts falling due within one year
(30,577)
(7,741)
(30,577)
(7,741)

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2024-02-292023-03-01falseCCH SoftwareCCH Accounts Production 2024.100falsefalseOC3981502023-03-012024-02-29OC3981502024-02-29OC398150bus:PartnerLLP12023-03-012024-02-29OC3981502022-03-012023-02-28OC398150bus:LimitedLiabilityPartnershipLLP2023-03-012024-02-29OC398150bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-29OC398150bus:FRS1022023-03-012024-02-29OC398150bus:AuditExemptWithAccountantsReport2023-03-012024-02-29OC398150bus:FullAccounts2023-03-012024-02-29xbrli:purexbrli:shares