IRIS Accounts Production v24.3.0.553 OC412032 designated member designated member 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4120322023-03-31OC4120322024-03-31OC4120322023-04-012024-03-31OC4120322022-03-31OC4120322022-04-012023-03-31OC4120322023-03-31OC412032ns15:EnglandWales2023-04-012024-03-31OC412032ns14:PoundSterling2023-04-012024-03-31OC412032ns10:PartnerLLP12023-04-012024-03-31OC412032ns10:PartnerLLP22023-04-012024-03-31OC412032ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC412032ns10:SmallEntities2023-04-012024-03-31OC412032ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC412032ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC412032ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC412032ns10:FullAccounts2023-04-012024-03-31OC412032ns10:RegisteredOffice2023-04-012024-03-31OC412032ns5:CurrentFinancialInstruments2024-03-31OC412032ns5:CurrentFinancialInstruments2023-03-31OC412032ns5:Non-currentFinancialInstruments2024-03-31OC412032ns5:Non-currentFinancialInstruments2023-03-31OC412032ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-31OC412032ns5:FurnitureFittings2023-04-012024-03-31OC412032ns5:MotorVehicles2023-04-012024-03-31OC412032ns5:ComputerEquipment2023-04-012024-03-31OC412032ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-31OC412032ns5:FurnitureFittings2023-03-31OC412032ns5:MotorVehicles2023-03-31OC412032ns5:ComputerEquipment2023-03-31OC412032ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-31OC412032ns5:FurnitureFittings2024-03-31OC412032ns5:MotorVehicles2024-03-31OC412032ns5:ComputerEquipment2024-03-31OC412032ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-31OC412032ns5:FurnitureFittings2023-03-31OC412032ns5:MotorVehicles2023-03-31OC412032ns5:ComputerEquipment2023-03-31OC412032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC412032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC412032ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-31OC412032ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31
REGISTERED NUMBER: OC412032 (England and Wales)



Unaudited Financial Statements for the Year Ended 31 March 2024

for

Fahri LLP

Fahri LLP (Registered number: OC412032)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fahri LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Ms W D Fahri
O I Fahri





REGISTERED OFFICE: Unit 3
Mountview Court
310 Friern Barnet Lane
London
N20 0LD





REGISTERED NUMBER: OC412032 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Fahri LLP (Registered number: OC412032)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 118,635 137,460

CURRENT ASSETS
Debtors 5 168,714 200,578
Cash at bank and in hand 7,390,445 6,786,937
7,559,159 6,987,515
CREDITORS
Amounts falling due within one year 6 (7,391,338 ) (6,762,198 )
NET CURRENT ASSETS 167,821 225,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,456

362,777

CREDITORS
Amounts falling due after more than one
year

7

(94,553

)

(111,743

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

191,903

251,034

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

191,903

251,034

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 191,903 251,034
Amounts due from members 5 (48,506 ) (50,762 )
143,397 200,272

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Fahri LLP (Registered number: OC412032)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 December 2024 and were signed by:




O I Fahri - Designated member




Ms W D Fahri - Designated member


Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Fahri LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at Insert detail.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2023 - 26 ) .

Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 871 30,341 138,445 44,263 213,920
Additions - 16,288 - 4,451 20,739
At 31 March 2024 871 46,629 138,445 48,714 234,659
DEPRECIATION
At 1 April 2023 580 17,165 35,764 22,951 76,460
Charge for year 87 7,366 25,670 6,441 39,564
At 31 March 2024 667 24,531 61,434 29,392 116,024
NET BOOK VALUE
At 31 March 2024 204 22,098 77,011 19,322 118,635
At 31 March 2023 291 13,176 102,681 21,312 137,460

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 120,208 131,943
Amounts due from members 48,506 50,762
Other debtors - 2,000
Prepayments - 15,873
168,714 200,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 8) 11,008 9,999
Hire purchase contracts 5,427 5,427
Social security and other taxes 24,981 43,421
Pension 4,549 3,788
VAT 107,865 115,815
Other creditors 42,156 -
Client account 7,122,731 6,489,092
Accrued expenses 72,621 94,656
7,391,338 6,762,198

Fahri LLP (Registered number: OC412032)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 8) 11,499 23,517
Hire purchase contracts 83,054 88,226
94,553 111,743

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 11,008 9,999

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,499 23,517

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 88,481 93,653

The hire purchase debts are secured against the assets.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 191,903 251,034

Falling due within one year 191,903 251,034

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.