Registered number: OC369036
Treme Design LLP
Unaudited
Financial statements
Information for filing with the registrar
For the period ended 31 March 2024
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Treme Design LLP
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Treme Design LLP for the period ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Treme Design LLP for the period ended 31 March 2024 which comprise the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the members in accordance with the terms of our engagement letter dated 11 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Treme Design LLP and state those matters that we have agreed to state to the Treme Design LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Treme Design LLP and its members for our work or for this report.
It is your duty to ensure that Treme Design LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Treme Design LLP. You consider that Treme Design LLP is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or review of the financial statements of Treme Design LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
13 January 2025
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Treme Design LLP
Registered number: OC369036
Balance sheet
As at 31 March 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Loans and other debts due to members
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Treme Design LLP
Registered number: OC369036
Balance sheet (continued)
As at 31 March 2024
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
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T M Mellor
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The notes on pages 5 to 8 form part of these financial statements.
Treme Design LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
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Treme Design LLP
Reconciliation of members' interests
For the period ended 31 March 2024
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DEBT
Loans and other debts due to members less any amounts due from members in debtors
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Members' remuneration charged as an expense
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Members' interests after profit for the period
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Balance at 31 October 2023
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Members' remuneration charged as an expense
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Members' interests after profit for the period
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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.
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Treme Design LLP
Notes to the financial statements
For the period ended 31 March 2024
Treme Design LLP is a Limited Liability Partnership incorproated in Engaland within the United Kingdom. The LLP's registered office address is 4 Danesbury Park Road, Welwyn, AL6 9SE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the LLP will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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Treme Design LLP
Notes to the financial statements
For the period ended 31 March 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.
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Treme Design LLP
Notes to the financial statements
For the period ended 31 March 2024
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The average number of employees during the period was 6 (2023 - 6).
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Charge for the period on owned assets
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Page 7
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Treme Design LLP
Notes to the financial statements
For the period ended 31 March 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Other taxation and social security
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Loans and other debts due to members
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Other amounts due to members
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The loans and debts due to members rank equally with ordinary creditors in the event of a winding up.
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The ultimate controlling party is the Members.
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