Adeptive 2 LLP
Notes to the financial statements
For the year ended 30 April 2024
Adeptive 2 LLP is a limited liability partnership, incorporated in England and Wales, registration number OC429947. The registered office is 2nd Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements, from which these filleted financial statements have been extracted, have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 105 the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The LLP's functional and presentational currency is GBP.
The accounts have been prepared on a going concern basis despite the LLP reporting a loss of £11,545 (2023: £58,533) for the year ended 30 April 2024 and net liabilities of £413,341 (2023: £401,796) at that date. The LLP is reliant upon the continued financial support of Adeptive Holdings LLP.
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Division and distribution of profits
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .
In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
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The entity has no employees.
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