Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 OC328608 Mr Phil Taylor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC328608 2023-05-31 OC328608 2024-05-31 OC328608 2023-06-01 2024-05-31 OC328608 frs-core:CurrentFinancialInstruments 2024-05-31 OC328608 frs-core:Non-currentFinancialInstruments 2024-05-31 OC328608 frs-core:ComputerEquipment 2024-05-31 OC328608 frs-core:ComputerEquipment 2023-06-01 2024-05-31 OC328608 frs-core:ComputerEquipment 2023-05-31 OC328608 frs-core:FurnitureFittings 2024-05-31 OC328608 frs-core:FurnitureFittings 2023-06-01 2024-05-31 OC328608 frs-core:FurnitureFittings 2023-05-31 OC328608 frs-core:MotorVehicles 2024-05-31 OC328608 frs-core:MotorVehicles 2023-06-01 2024-05-31 OC328608 frs-core:MotorVehicles 2023-05-31 OC328608 frs-core:PlantMachinery 2024-05-31 OC328608 frs-core:PlantMachinery 2023-06-01 2024-05-31 OC328608 frs-core:PlantMachinery 2023-05-31 OC328608 frs-bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC328608 frs-bus:LimitedLiabilityPartnershipsSORP 2023-06-01 2024-05-31 OC328608 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 OC328608 frs-bus:SmallEntities 2023-06-01 2024-05-31 OC328608 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 OC328608 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 OC328608 frs-countries:EnglandWales 2023-06-01 2024-05-31 OC328608 frs-bus:PartnerLLP1 2023-06-01 2024-05-31 OC328608 2022-05-31 OC328608 2023-05-31 OC328608 2022-06-01 2023-05-31 OC328608 frs-core:CurrentFinancialInstruments 2023-05-31 OC328608 frs-core:Non-currentFinancialInstruments 2023-05-31 OC328608 frs-core:BetweenOneFiveYears 2023-05-31
Registered number: OC328608
TW Partnership LLP
Unaudited Financial Statements
For The Year Ended 31 May 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC328608
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,565 8,752
6,565 8,752
CURRENT ASSETS
Debtors 5 155,066 132,543
Cash at bank and in hand 733 7,258
155,799 139,801
Creditors: Amounts Falling Due Within One Year 6 (67,797 ) (80,174 )
NET CURRENT ASSETS (LIABILITIES) 88,002 59,627
TOTAL ASSETS LESS CURRENT LIABILITIES 94,567 68,379
Creditors: Amounts Falling Due After More Than One Year 7 (122,228 ) (139,823 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (27,661 ) (71,444 )
REPRESENTED BY:
Equity
Members' other interests
Members' capital (27,661) (71,444)
(27,661) (71,444)
TOTAL MEMBERS' INTEREST
Amounts due from members (68,234) (38,407)
Members' other interests (27,661) (71,444)
(95,895) (109,851)
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Page 2
For the year ending 31 May 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 Income Statement.
On behalf of the members
Mr Phil Taylor
Designated Member
31 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TW Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC328608 . The Registered Office is Suite 2, Wensum Mount Business Centre, Low Road, Hellesdon, Norwich, Norfolk, NR6 5AQ.
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.
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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 746 26,999 785 5,965 34,495
As at 31 May 2024 746 26,999 785 5,965 34,495
Depreciation
As at 1 June 2023 746 20,593 196 4,208 25,743
Provided during the period - 1,601 147 439 2,187
As at 31 May 2024 746 22,194 343 4,647 27,930
Net Book Value
As at 31 May 2024 - 4,805 442 1,318 6,565
As at 1 June 2023 - 6,406 589 1,757 8,752
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,466 33,580
Other debtors 131,600 98,963
155,066 132,543
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (508 ) (1,024 )
Bank loans and overdrafts 5,517 -
Other creditors 62,788 62,788
Taxation and social security - 18,410
67,797 80,174
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,528
Bank loans 33,965 -
Other loans 88,263 137,295
122,228 139,823
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 2,528
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