Registered No. OC422521 (England and Wales)
Capital Talks LLP
Unaudited accounts
for the year ended 31 May 2024
Capital Talks LLP
LLP Information
for the year ended 31 May 2024
Designated members
Mr Shoaib Saleem
Registered Number
OC422521 (England and Wales)
Registered Office
310D, EW Sterling House
Langston Road
Loughton
IG10 3TS
United Kingdom
Accountants
Capital Talks LLP
Accountants & Tax consultants
310D - EW Sterling House
Langston Road
Loughton
IG10 3TS
Capital Talks LLP
Statement of financial position
as at 31 May 2024
Tangible assets
14,769
16,359
Cash at bank and in hand
135,323
32,607
Creditors: amounts falling due within one year
(52,835)
(12,315)
Net current assets
103,146
38,727
Total assets less current liabilities
117,915
55,086
Creditors: amounts falling due after more than one year
(30,227)
(34,590)
Net assets attributable to members
87,688
20,496
Members' capital classified as equity
(81,479)
(87,392)
Other reserves
169,167
107,888
Members' other interests
87,688
20,496
For the year ending 31 May 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 23 January 2025.
Mr Shoaib Saleem
Designated member
Limited Liability Partnership Registration No. OC422521
Capital Talks LLP
Notes to the Accounts
for the year ended 31 May 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on cost.
Fixtures & fittings
25% on cost.
Computer equipment
33% on cost.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Capital Talks LLP is a limited liability partnership, incorporated in England and Wales, registration number OC422521. Its registered office is 310D, EW Sterling House, Langston Road, Loughton, IG10 3TS, United Kingdom.
Capital Talks LLP
Notes to the Accounts
for the year ended 31 May 2024
3
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
16,580
11,248
9,431
37,259
Additions
-
2,653
2,775
5,428
At 31 May 2024
16,580
13,901
12,206
42,687
At 1 June 2023
7,046
6,248
7,606
20,900
Charge for the year
2,487
2,716
1,815
7,018
At 31 May 2024
9,533
8,964
9,421
27,918
At 31 May 2024
7,047
4,937
2,785
14,769
At 31 May 2023
9,534
5,000
1,825
16,359
4
Creditors: amounts falling due within one year
2024
2023
Other creditors
52,835
12,315
5
Creditors: amounts falling due after more than one year
2024
2023
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 4 (2023: 5).