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REGISTERED NUMBER: OC423476 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

CHANGING LANES SERVICES LLP

CHANGING LANES SERVICES LLP (REGISTERED NUMBER: OC423476)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHANGING LANES SERVICES LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: R I Basch
Jordan Rae Limited





REGISTERED OFFICE: Spitalfields House
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: OC423476 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

CHANGING LANES SERVICES LLP (REGISTERED NUMBER: OC423476)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,789 12,043

CURRENT ASSETS
Debtors 5 165,027 162,426
Cash at bank 12,481 24,631
177,508 187,057
CREDITORS
Amounts falling due within one year 6 (34,302 ) (72,943 )
NET CURRENT ASSETS 143,206 114,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,995

126,157

CREDITORS
Amounts falling due after more than one year 7 (14,071 ) (23,974 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

140,924

102,183

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

89,924

46,183

MEMBERS' OTHER INTERESTS
Capital accounts 51,000 56,000
140,924 102,183

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 89,924 46,183
Members' other interests 51,000 56,000
140,924 102,183

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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.

CHANGING LANES SERVICES LLP (REGISTERED NUMBER: OC423476)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 11 February 2025 and were signed by:





R I Basch - Designated member

CHANGING LANES SERVICES LLP (REGISTERED NUMBER: OC423476)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Changing Lanes Services LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

CHANGING LANES SERVICES LLP (REGISTERED NUMBER: OC423476)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 3 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 34,679
DEPRECIATION
At 1 April 2023 22,636
Charge for year 254
At 31 March 2024 22,890
NET BOOK VALUE
At 31 March 2024 11,789
At 31 March 2023 12,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 71,754 91,940
Other debtors 93,273 70,486
165,027 162,426

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors (1 ) 18,051
Taxation and social security 24,686 44,884
Other creditors (383 ) 8
34,302 72,943

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 14,071 23,974

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

There are no unsecured other creditors. There are no restrictions on the ability of the members to reduce the amount of members other interests.