6 false false false false false false false false false false false false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 97,979 97,978 1 1 xbrli:pure xbrli:shares iso4217:GBP OC308995 2023-09-01 2024-03-31 OC308995 2024-03-31 OC308995 2023-08-31 OC308995 2022-09-01 2023-08-31 OC308995 2023-08-31 OC308995 2022-08-31 OC308995 core:FurnitureFittings 2023-09-01 2024-03-31 OC308995 core:MotorVehicles 2023-09-01 2024-03-31 OC308995 core:NetGoodwill 2023-09-01 2024-03-31 OC308995 bus:Director1 2023-09-01 2024-03-31 OC308995 bus:Director2 2023-09-01 2024-03-31 OC308995 core:WithinOneYear 2024-03-31 OC308995 core:WithinOneYear 2023-08-31 OC308995 core:NetGoodwill 2024-03-31 OC308995 core:LandBuildings 2023-08-31 OC308995 core:MotorVehicles 2023-08-31 OC308995 core:LandBuildings 2024-03-31 OC308995 core:FurnitureFittings 2024-03-31 OC308995 core:MotorVehicles 2024-03-31 OC308995 core:LandBuildings 2023-09-01 2024-03-31 OC308995 core:BetweenOneFiveYears 2024-03-31 OC308995 core:BetweenOneFiveYears 2023-08-31 OC308995 core:NetGoodwill 2023-08-31 OC308995 core:LandBuildings 2023-08-31 OC308995 core:MotorVehicles 2023-08-31 OC308995 bus:SmallEntities 2023-09-01 2024-03-31 OC308995 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-03-31 OC308995 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-03-31 OC308995 bus:LimitedLiabilityPartnershipLLP 2023-09-01 2024-03-31 OC308995 bus:FullAccounts 2023-09-01 2024-03-31 OC308995 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-03-31
REGISTERED NUMBER: OC308995
Apollo & Co LLP
Filleted Unaudited Financial Statements
31 March 2024
Apollo & Co LLP
Balance Sheet
31 March 2024
31 Mar 24
31 Aug 23
Note
£
£
£
Fixed assets
Intangible assets
5
1
1
Tangible assets
6
99,807
26,727
--------
--------
99,808
26,728
Current assets
Debtors
7
234,227
229,854
Cash at bank and in hand
54,830
49,035
---------
---------
289,057
278,889
Creditors: amounts falling due within one year
8
( 296,180)
( 304,617)
---------
---------
Net current liabilities
( 7,123)
( 25,728)
--------
--------
Total assets less current liabilities
92,685
1,000
--------
-------
Net assets
92,685
1,000
--------
-------
Represented by:
Loans and other debts due to members
Other amounts
91,685
Members' other interests
Members' capital classified as equity
1,000
1,000
Other reserves
--------
-------
92,685
1,000
--------
-------
Total members' interests
Loans and other debts due to members
91,685
Members' other interests
1,000
1,000
--------
-------
92,685
1,000
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the profit and loss account has not been delivered.
For the period ending 31 March 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) relating to small LLPs.
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 financial statements .
Apollo & Co LLP
Balance Sheet (continued)
31 March 2024
These financial statements were approved by the members and authorised for issue on 29 January 2025 , and are signed on their behalf by:
Mr U Somaia
Mr K Somaia
Designated Member
Designated Member
Registered number: OC308995
Apollo & Co LLP
Notes to the Financial Statements
Period from 1 September 2023 to 31 March 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 77 Grand Parade, Green Lanes, London, England, N4 1DX.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rents and management fees receivable during the period and is exclusive of Value Added Tax.
Members' participation rights
Individual members
Members' share of profits are automatically allocated. Members' drawings are set by the Management Board after considering the working capital needs of the business. To the extent the profit allocations exceed drawings, the excess profit is included in the balance sheet under creditors. Where drawings exceed the allocated profits the excess is included in debtors.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the LLP's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
over 4 years on a straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
over the term of lease
Fixtures & Fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Taxation
Taxation on LLP profits is the personal liability of the members, consequently neither taxation nor related deferred taxation are accounted for in these financial statements.
Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Employee numbers
The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 6 (2023: 6 ).
5.
Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 March 2024
97,979
--------
Amortisation
At 1 September 2023 and 31 March 2024
97,978
--------
Carrying amount
At 31 March 2024
1
--------
At 31 August 2023
1
--------
6.
Tangible assets
Leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
529
118,308
59,719
178,556
Additions
66,619
17,850
1,309
85,778
Disposals
( 10,900)
( 10,900)
----
--------
---------
--------
---------
At 31 March 2024
529
66,619
125,258
61,028
253,434
----
--------
---------
--------
---------
Depreciation
At 1 September 2023
493
98,998
52,338
151,829
Charge for the period
17
5,829
5,391
1,267
12,504
Disposals
( 10,706)
( 10,706)
----
--------
---------
--------
---------
At 31 March 2024
510
5,829
93,683
53,605
153,627
----
--------
---------
--------
---------
Carrying amount
At 31 March 2024
19
60,790
31,575
7,423
99,807
----
--------
---------
--------
---------
At 31 August 2023
36
19,310
7,381
26,727
----
--------
---------
--------
---------
7.
Debtors
31 Mar 24
31 Aug 23
£
£
Trade debtors
234
41,704
Prepayments and accrued income
878
43,909
Other debtors
233,115
144,241
---------
---------
234,227
229,854
---------
---------
Included in other debtors is an amount of £Nil (2023: £26,518) due to the LLP from members.
8. Creditors: amounts falling due within one year
31 Mar 24
31 Aug 23
£
£
Bank loans and overdrafts
816
Trade creditors
280,361
236,059
Accruals and deferred income
9,733
63,757
Social security and other taxes
1,056
530
Other creditors
4,214
4,271
---------
---------
296,180
304,617
---------
---------
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Mar 24
31 Aug 23
£
£
Later than 1 year and not later than 5 years
18,333
18,333
--------
--------