Registered number
OC437482
Iconiclo LLP
Filleted Accounts
31 May 2024
Iconiclo LLP
Registered number: OC437482
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Stocks - 3,106
Cash at bank and in hand 1 183
1 3,289
Creditors: amounts falling due within one year 3 (511) (5,225)
Net current liabilities (510) (1,936)
Total assets less current liabilities (510) (1,936)
Net liabilities attributable to members (510) (1,936)
Represented by:
Loans and other debts due to members 4 8,681 3,138
Members' other interests
Other reserves (9,191) (5,074)
(510) (1,936)
Total members' interests
Loans and other debts due to members 4 8,681 3,138
Members' other interests (9,191) (5,074)
(510) (1,936)
For the year ended 31 May 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 17 February 2025 and signed on their behalf by:
J. Burke
Designated member
Iconiclo LLP
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 4,714
Other creditors 511 511
511 5,225
4 Loans and other debts due to members 2024 2023
£ £
Loans from members 8,681 3,138
Amounts falling due within one year 8,681 3,138
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
5 Other information
Iconiclo LLP is a limited liability partnership incorporated in England. Its registered office is:
29 Thorntondale Drive
Warrington
WA5 3FY
Iconiclo LLP OC437482 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2022 J. Burke No description of principal activity OC437482 2022-06-01 2023-05-31 OC437482 core:WithinOneYear 2023-05-31 OC437482 1 2023-05-31 OC437482 core:RetainedEarningsAccumulatedLosses 2023-05-31 OC437482 2023-06-01 2024-05-31 OC437482 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC437482 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 OC437482 bus:PartnerLLP20 2023-06-01 2024-05-31 OC437482 1 2023-06-01 2024-05-31 OC437482 2 2023-06-01 2024-05-31 OC437482 countries:England 2023-06-01 2024-05-31 OC437482 bus:FRS102 2023-06-01 2024-05-31 OC437482 bus:FullAccounts 2023-06-01 2024-05-31 OC437482 2024-05-31 OC437482 core:WithinOneYear 2024-05-31 OC437482 1 2024-05-31 OC437482 core:RetainedEarningsAccumulatedLosses 2024-05-31 OC437482 2023-05-31 iso4217:GBP xbrli:pure