0 false false false false false false false false false false false false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,546 6,599 487 7,086 1,460 1,947 95,779 11,190 84,589 84,589 95,779 xbrli:pure xbrli:shares iso4217:GBP OC407580 2023-05-01 2024-04-30 OC407580 2024-04-30 OC407580 2023-04-30 OC407580 2022-05-01 2023-04-30 OC407580 2023-04-30 OC407580 2022-04-30 OC407580 core:PlantMachinery 2023-05-01 2024-04-30 OC407580 bus:Director1 2023-05-01 2024-04-30 OC407580 core:PlantMachinery 2023-04-30 OC407580 core:PlantMachinery 2024-04-30 OC407580 core:WithinOneYear 2024-04-30 OC407580 core:WithinOneYear 2023-04-30 OC407580 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 OC407580 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2024-04-30 OC407580 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 OC407580 core:Non-currentFinancialInstruments 2024-04-30 OC407580 core:Non-currentFinancialInstruments 2023-04-30 OC407580 core:PlantMachinery 2023-04-30 OC407580 bus:SmallEntities 2023-05-01 2024-04-30 OC407580 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 OC407580 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC407580 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC407580 bus:FullAccounts 2023-05-01 2024-04-30
REGISTERED NUMBER: OC407580
T.I. CONSULTANCY LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
T.I. CONSULTANCY LLP
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
1,460
1,947
Investments
5
( 84,589)
( 95,779)
---------
---------
( 83,129)
( 93,832)
Current assets
Stocks
1,085
1,085
Debtors
6
281,348
292,051
----------
----------
282,433
293,136
Creditors: amounts falling due within one year
7
3,200
3,200
----------
----------
Net current assets
279,233
289,936
----------
----------
Total assets less current liabilities
196,104
196,104
----------
----------
Net assets
196,104
196,104
----------
----------
Represented by:
Loans and other debts due to members
Other amounts
8
84,190
84,190
Members' other interests
Members' capital classified as equity
111,914
111,914
Other reserves
----------
----------
196,104
196,104
----------
----------
Total members' interests
Amounts due from members
(169,434)
(180,137)
Loans and other debts due to members
8
84,190
84,190
Members' other interests
111,914
111,914
----------
----------
26,670
15,967
----------
----------
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 statement of comprehensive income has not been delivered.
T.I. CONSULTANCY LLP
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
For the year ending 30 April 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 .
These financial statements were approved by the members and authorised for issue on 31 January 2025 , and are signed on their behalf by:
D R Brownfield
Designated Member
Registered number: OC407580
T.I. CONSULTANCY LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 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'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Plant and machiney
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 May 2023 and 30 April 2024
8,546
8,546
-------
-------
Depreciation
At 1 May 2023
6,599
6,599
Charge for the year
487
487
-------
-------
At 30 April 2024
7,086
7,086
-------
-------
Carrying amount
At 30 April 2024
1,460
1,460
-------
-------
At 30 April 2023
1,947
1,947
-------
-------
5.
Investments
Other investments other than loans
£
Cost
At 1 May 2023
( 95,779)
Other movements
11,190
---------
At 30 April 2024
( 84,589)
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
( 84,589)
---------
At 30 April 2023
( 95,779)
---------
6.
Debtors
2024
2023
£
£
Other debtors
281,348
292,051
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
3,200
3,200
-------
-------
8.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
84,190
84,190
---------
---------