REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
1 December 2022 to 31 March 2024 |
for |
FABRIC VENTURES LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
1 December 2022 to 31 March 2024 |
for |
FABRIC VENTURES LLP |
FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092) |
Contents of the Financial Statements |
for the period 1 December 2022 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
FABRIC VENTURES LLP |
General Information |
for the period 1 December 2022 to 31 March 2024 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net liabilities attributable to members | - | - |
Loans and other debts due to members | - | - |
Total members' interests |
Amounts due from members | 5 | (5,658,004 | ) | (3,880,706 | ) |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
The financial statements were approved by the members of the LLP and authorised for issue on |
FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092) |
Notes to the Financial Statements |
for the period 1 December 2022 to 31 March 2024 |
1. | Statutory information |
Fabric Ventures LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
Long accounting period |
The prior year figures are not directly comparable to the current period figures. This is due to the prior year accounting period beng 12 months and the the current accounting period being 16 months. |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
FABRIC VENTURES LLP (REGISTERED NUMBER: OC420092) |
Notes to the Financial Statements - continued |
for the period 1 December 2022 to 31 March 2024 |
3. | Employee information |
The average number of employees during the period was |
4. | Tangible fixed assets |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
Cost |
At 1 December 2022 |
Additions |
At 31 March 2024 |
Depreciation |
At 1 December 2022 |
Charge for period |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 30 November 2022 |
5. | Debtors: amounts falling due within one year |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2022 |
£ | £ |
Bank loans |
Other creditors |