Silverfin false 31/03/2024 02/03/2023 31/03/2024 Dr Norman Macaskill Fraser 02/03/2023 Sarah Katherine Louise Fraser 02/03/2023 03 February 2025 OC446083 2024-03-31 OC446083 bus:Director1 2024-03-31 OC446083 bus:Director2 2024-03-31 OC446083 core:CurrentFinancialInstruments 2024-03-31 OC446083 core:CostValuation 2023-03-01 OC446083 core:AdditionsToInvestments 2024-03-31 OC446083 core:CostValuation 2024-03-31 OC446083 2023-03-02 2024-03-31 OC446083 bus:FullAccounts 2023-03-02 2024-03-31 OC446083 bus:SmallEntities 2023-03-02 2024-03-31 OC446083 bus:AuditExemptWithAccountantsReport 2023-03-02 2024-03-31 OC446083 bus:LimitedLiabilityPartnershipLLP 2023-03-02 2024-03-31 OC446083 bus:Director1 2023-03-02 2024-03-31 OC446083 bus:Director2 2023-03-02 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC446083 (England and Wales)

CANNONICAL LLP

Unaudited Financial Statements
For the financial period from 02 March 2023 to 31 March 2024
Pages for filing with the registrar

CANNONICAL LLP

Unaudited Financial Statements

For the financial period from 02 March 2023 to 31 March 2024

Contents

CANNONICAL LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
CANNONICAL LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investments 3 3,656,948
3,656,948
Current assets
Debtors 4 2,586
2,586
Creditors: amounts falling due within one year 5 ( 4,080)
Net current liabilities (1,494)
Total assets less current liabilities 3,655,454
Net assets attributable to members 3,655,454
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 6 3,657,534
3,657,534
Members' other interests
Members' capital classified as equity 2,000
Other reserves (4,080)
(2,080)
3,655,454
Total members' interests
Amounts due from members (included in debtors) (2,000)
Loans and other debts due to members 3,657,534
Members' other interests (2,080)
3,653,454

For the financial 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.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Cannonical LLP (registered number: OC446083) were approved and authorised for issue by the Board of Directors on 03 February 2025. They were signed on its behalf by:

Dr Norman Macaskill Fraser
Designated member
CANNONICAL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 02 March 2023 to 31 March 2024
CANNONICAL LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 02 March 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Cannonical LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
02.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the LLP during the period 0

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 02 March 2023 0 0
Additions 3,656,948 3,656,948
At 31 March 2024 3,656,948 3,656,948
Carrying value at 31 March 2024 3,656,948 3,656,948

4. Debtors

31.03.2024
£
Amounts owed by members 2,000
Other debtors 586
2,586

5. Creditors: amounts falling due within one year

31.03.2024
£
Other creditors 4,080

6. 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. There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.