Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 OC363672 Bruno Trading Limited Mr Graham Honey Ms June Hayden iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC363672 2023-08-31 OC363672 2024-08-31 OC363672 2023-09-01 2024-08-31 OC363672 frs-core:CurrentFinancialInstruments 2024-08-31 OC363672 frs-core:Non-currentFinancialInstruments 2024-08-31 OC363672 frs-core:FurnitureFittings 2024-08-31 OC363672 frs-core:FurnitureFittings 2023-09-01 2024-08-31 OC363672 frs-core:FurnitureFittings 2023-08-31 OC363672 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 OC363672 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC363672 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 OC363672 frs-core:PlantMachinery 2024-08-31 OC363672 frs-core:PlantMachinery 2023-09-01 2024-08-31 OC363672 frs-core:PlantMachinery 2023-08-31 OC363672 frs-bus:LimitedLiabilityPartnershipLLP 2023-09-01 2024-08-31 OC363672 frs-bus:LimitedLiabilityPartnershipsSORP 2023-09-01 2024-08-31 OC363672 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 OC363672 frs-bus:SmallEntities 2023-09-01 2024-08-31 OC363672 frs-bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 OC363672 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 OC363672 frs-core:CurrentFinancialInstruments 5 2024-08-31 OC363672 frs-countries:EnglandWales 2023-09-01 2024-08-31 OC363672 frs-bus:PartnerLLP1 2023-09-01 2024-08-31 OC363672 frs-bus:PartnerLLP2 2023-09-01 2024-08-31 OC363672 frs-bus:PartnerLLP3 2023-09-01 2024-08-31 OC363672 2022-08-31 OC363672 2023-08-31 OC363672 2022-09-01 2023-08-31 OC363672 frs-core:CurrentFinancialInstruments 2023-08-31 OC363672 frs-core:Non-currentFinancialInstruments 2023-08-31 OC363672 frs-core:CurrentFinancialInstruments 5 2023-08-31
Registered number: OC363672
Indiana Developments LLP
Unaudited Financial Statements
For The Year Ended 31 August 2024
Gareth Pollard Accountancy Services
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
In accordance with the engagement letter dated 10 November 2021, and in order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have compiled the financial statements of the LLP from the accounting records and information and explanations you have given to us.
This report is made to the partners in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the partners the financial statements that we have been engaged to compile, to report to the partners that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the partnership and the partners for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 August 2024 your duty to ensure that the partnership has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the LLP is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
28/01/2025
Gareth Pollard Accountancy Services
The Old Orchard
Holsworthy
Devon
EX22 6LT
Page 1
Page 2
Balance Sheet
Registered number: OC363672
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,751,743 1,847,943
1,751,743 1,847,943
CURRENT ASSETS
Debtors 5 936,748 845,391
Cash at bank and in hand 41,587 47,758
978,335 893,149
Creditors: Amounts Falling Due Within One Year 6 (9,012 ) (10,133 )
NET CURRENT ASSETS (LIABILITIES) 969,323 883,016
TOTAL ASSETS LESS CURRENT LIABILITIES 2,721,066 2,730,959
Creditors: Amounts Falling Due After More Than One Year 7 (1,206,120 ) (1,262,829 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,514,946 1,468,130
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 1,242,837 1,242,837
Other amounts 272,109 225,293
1,514,946 1,468,130
1,514,946 1,468,130
TOTAL MEMBERS' INTEREST
Amounts due from members (297,590) (183,927)
Loans and other debts due to members within one year 1,514,946 1,468,130
1,217,356 1,284,203
Page 2
Page 3
For the year ending 31 August 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 Graham Honey
Designated Member
28/01/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Indiana Developments LLP is a limited liability partnership, incorporated in England & Wales, registered number OC363672 . The Registered Office is 9 Cathedral Court, Southerhay East, Exeter, Devon, EX1 1AF.
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 2% straight line
Plant & Machinery 15% reducing balance
Fixtures & Fittings 10% 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.
2.4. Financial Instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.  
Other financial assets
...CONTINUED
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2.4. Financial Instruments - continued
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised.The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership ’s obligations expire or are
discharged or cancelled.
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.6. Impairment of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (orcash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.7. Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 1,500,922 6,487 1,703,326 3,210,735
As at 31 August 2024 1,500,922 6,487 1,703,326 3,210,735
Depreciation
As at 1 September 2023 314,160 5,209 1,043,423 1,362,792
Provided during the period 30,018 192 65,990 96,200
As at 31 August 2024 344,178 5,401 1,109,413 1,458,992
...CONTINUED
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Net Book Value
As at 31 August 2024 1,156,744 1,086 593,913 1,751,743
As at 1 September 2023 1,186,762 1,278 659,903 1,847,943
5. Debtors
2024 2023
£ £
Due within one year
Loans 51,166 48,684
Debtors 26,456 -
Amounts due from members 297,590 183,927
375,212 232,611
Due after more than one year
Loans over one year 561,536 612,780
936,748 845,391
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 8,512 9,617
Accruals and deferred income 500 516
9,012 10,133
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Government grants after one year 1,206,120 1,262,829
This grant has been treated as deferred income and will be credited to the profit and loss account by installments over the expected useful economic life of the related capital assets on a basis consistent with the depreciation policies of these assets. In the year ended 31 August 2024 the grant credited to the profit and loss account amounted to £56,709 (2023 - £60,538).
8. Loans and other debts due to members
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.
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