Limited Liability Partnership registration number OC304272 (England and Wales)
SOLIDUS PARTNERS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SOLIDUS PARTNERS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SOLIDUS PARTNERS LLP
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,555
15,406
Current assets
Debtors
4
32,970
21,084
Cash at bank and in hand
10,179
1,738,405
43,149
1,759,489
Creditors: amounts falling due within one year
5
(66,820)
(1,750,352)
Net current (liabilities)/assets
(23,671)
9,137
Total assets less current liabilities and net (liabilities)/assets attributable to members
(12,116)
24,543
Represented by:
Members' other interests
Members' capital classified as equity
(381,831)
(97,055)
Other reserves classified as equity
369,715
121,598
(12,116)
24,543

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 23 December 2024 and are signed on their behalf by:
23 December 2024
P von Stauffenberg
Designated member
Limited Liability Partnership Registration No. OC304272
SOLIDUS PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Solidus Partners LLP is a limited liability partnership incorporated in England and Wales. The registered office is 120 Castelnau, London, United Kingdom, SW13 9EU.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings
25% on reducing balance
Electronic equipment
25% on reducing balance
Vehicles
25% on reducing balance
1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks and bank overdrafts.

1.5
Financial instruments
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

SOLIDUS PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.6

Investments

Investments comprise investments in unquoted equity instruments which are measured at fair value. Changes in fair value are recognised in profit and loss. Investments in unquoted equity investments whose fair values cannot be measured reliably are measured at cost less impairment.

1.7

Debtors and creditors

Short term debtors are measured at transaction price, less any impairment.

 

Short term creditors are measured at the transaction price.

SOLIDUS PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
2
1
3
Tangible fixed assets
Fixtures and fittings
Electronic equipment
Vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
63,141
10,391
78,764
152,296
Depreciation and impairment
At 1 April 2023
59,453
6,328
71,109
136,890
Depreciation charged in the year
921
1,016
1,914
3,851
At 31 March 2024
60,374
7,344
73,023
140,741
Carrying amount
At 31 March 2024
2,767
3,047
5,741
11,555
At 31 March 2023
3,688
4,063
7,655
15,406
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
32,970
21,084
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,715
3,715
Taxation and social security
9,602
7,107
Other creditors
53,503
1,739,530
66,820
1,750,352
6
Capital commitments

There were no capital commitments either authorised or contracted at the balance sheet date.

SOLIDUS PARTNERS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Related party transactions
Transactions with related parties

During the year, Greenback Recycling Technologies Limited, a company with a partner/director in common, was charged expenses of £88,103 (2023: £60,412) by Solidus Partners LLP.

At the year end, Solidus was owed £22,971(2023: £15,897) from Greenback Recycling Technologies Ltd and owed £Nil (2023: £1,688,078) to Greenback Recycling Technologies Ltd.

 

8
Parent company

The partnership is under the control of P von Stauffenberg.

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