Acorah Software Products - Accounts Production 16.1.300 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 OC374574 Ms M T Coulon Mrs S M Menaut iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC374574 2023-04-30 OC374574 2024-04-30 OC374574 2023-05-01 2024-04-30 OC374574 frs-core:CurrentFinancialInstruments 2024-04-30 OC374574 frs-core:ComputerEquipment 2024-04-30 OC374574 frs-core:ComputerEquipment 2023-05-01 2024-04-30 OC374574 frs-core:ComputerEquipment 2023-04-30 OC374574 frs-core:PlantMachinery 2024-04-30 OC374574 frs-core:PlantMachinery 2023-05-01 2024-04-30 OC374574 frs-core:PlantMachinery 2023-04-30 OC374574 frs-bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC374574 frs-bus:LimitedLiabilityPartnershipsSORP 2023-05-01 2024-04-30 OC374574 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 OC374574 frs-bus:SmallEntities 2023-05-01 2024-04-30 OC374574 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC374574 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC374574 frs-countries:EnglandWales 2023-05-01 2024-04-30 OC374574 frs-bus:PartnerLLP1 2023-05-01 2024-04-30 OC374574 frs-bus:PartnerLLP2 2023-05-01 2024-04-30 OC374574 2022-04-30 OC374574 2023-04-30 OC374574 2022-05-01 2023-04-30 OC374574 frs-core:CurrentFinancialInstruments 2023-04-30
Registered number: OC374574
Betts Project LLP
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC374574
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,329 2,062
1,329 2,062
CURRENT ASSETS
Stocks 5 7,537 7,537
Debtors 6 10,466 14,039
Cash at bank and in hand 40,196 72,474
58,199 94,050
Creditors: Amounts Falling Due Within One Year 7 (59,486 ) (100,034 )
NET CURRENT ASSETS (LIABILITIES) (1,287 ) (5,984 )
TOTAL ASSETS LESS CURRENT LIABILITIES 42 (3,922 )
NET ASSETS/(LIABILITIES) ATTRIBUTABLE TO MEMBERS 42 (3,922 )
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability (26,757) (28,573)
Other amounts 23,799 21,651
(2,958) (6,922)
Equity
Members' other interests
Members' capital 3,000 3,000
3,000 3,000
42 (3,922)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members (2,958) (6,922)
Members' other interests 3,000 3,000
42 (3,922)
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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 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
Ms M T Coulon
Designated Member
30/01/2025
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
Betts Project LLP is a limited liability partnership, incorporated in England & Wales, registered number OC374574 . The Registered Office is Office M-05, Millharbour Court, 6 Watergate Walk, London, E14 9XH.
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. Going Concern Disclosure
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover represents the invoices value of goods.
2.4. 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% on cost
Computer Equipment 33.33% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the m embers' 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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.
Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
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Page 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 3,082 2,218 5,300
As at 30 April 2024 3,082 2,218 5,300
Depreciation
As at 1 May 2023 1,388 1,850 3,238
Provided during the period 549 184 733
As at 30 April 2024 1,937 2,034 3,971
Net Book Value
As at 30 April 2024 1,145 184 1,329
As at 1 May 2023 1,694 368 2,062
5. Stocks
2024 2023
£ £
Finished goods 7,537 7,537
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,566 4,458
Other debtors 6,900 9,581
10,466 14,039
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 57,221 97,877
Other creditors 2,265 2,157
59,486 100,034
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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