Limited Liability Partnership registration number OC402373 (England and Wales)
YELLOW BEAR FINANCIAL CONSULTANCY LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
YELLOW BEAR FINANCIAL CONSULTANCY LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
YELLOW BEAR FINANCIAL CONSULTANCY LLP
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
963
1,925
Current assets
Debtors
4
4,747
10,805
Cash at bank and in hand
122,600
54,725
127,347
65,530
Creditors: amounts falling due within one year
5
(12,640)
(12,640)
Net current assets
114,707
52,890
Total assets less current liabilities
115,670
54,815
Creditors: amounts falling due after more than one year
6
(10,000)
(20,000)
Net assets attributable to members
105,670
34,815
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
90,670
19,815
Members' other interests
Members' capital classified as equity
15,000
15,000
105,670
34,815
YELLOW BEAR FINANCIAL CONSULTANCY LLP
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
For the financial year ended 31 October 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 members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
The financial statements were approved by the members and authorised for issue on 20 January 2025 and are signed on their behalf by:
20 January 2025
Mr N Ryan
Designated member
Limited Liability Partnership registration number OC402373 (England and Wales)
YELLOW BEAR FINANCIAL CONSULTANCY LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Limited liability partnership information
Yellow Bear Financial Consultancy LLP is a limited liability partnership incorporated in England and Wales. The registered office is The Sanderum Centre, 38 Sanderum House, Oakley Road, Chinnor, England, OX39 4TW.
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 are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net sales of services and commission, net of value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2024
2023
Number
Number
Total
YELLOW BEAR FINANCIAL CONSULTANCY LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
4,397
3,318
7,715
Depreciation and impairment
At 1 November 2023
2,472
3,318
5,790
Depreciation charged in the year
962
-
962
At 31 October 2024
3,434
3,318
6,752
Carrying amount
At 31 October 2024
963
-
963
At 31 October 2023
1,925
-
1,925
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,969
8,500
Other debtors
1,778
2,305
4,747
10,805
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Other creditors
2,640
2,640
12,640
12,640
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,000
20,000
The long-term loans are secured by fixed charges over the assets of the LLP.
YELLOW BEAR FINANCIAL CONSULTANCY LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
7
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.