Silverfin false 31/03/2024 01/04/2023 31/03/2024 M L Greenwood 03/03/2023 G N Greenwood 03/03/2023 11 March 2025 OC446103 2024-03-31 OC446103 bus:Director1 2024-03-31 OC446103 bus:Director2 2024-03-31 OC446103 core:CurrentFinancialInstruments 2024-03-31 OC446103 2023-04-01 2024-03-31 OC446103 bus:FullAccounts 2023-04-01 2024-03-31 OC446103 bus:SmallEntities 2023-04-01 2024-03-31 OC446103 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC446103 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC446103 bus:Director1 2023-04-01 2024-03-31 OC446103 bus:Director2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC446103 (England and Wales)

1 OF A LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

1 OF A LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

1 OF A LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2024
1 OF A LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2024
DESIGNATED MEMBERS M L Greenwood
G N Greenwood
REGISTERED OFFICE Flat 2
1-2 Wilton Terrace
London
SW1X 8RR
United Kingdom
REGISTERED NUMBER OC446103 (England and Wales)
ACCOUNTANT Evelyn Partners (East) LLP
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
1 OF A LLP

BALANCE SHEET

As at 31 March 2024
1 OF A LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024
£
Current assets
Stocks 3 9,242
Debtors 4 252
Cash at bank and in hand 1,440
10,934
Creditors: amounts falling due within one year 5 ( 3,098)
Net current assets 7,836
Total assets less current liabilities 7,836
Net assets attributable to members 7,836
Represented by
Loans and other debts due to members within one year
Other amounts 18,004
18,004
Members' other interests
Other reserves (10,168)
(10,168)
7,836
Total members' interests
Loans and other debts due to members 18,004
Members' other interests (10,168)
7,836

For the financial year ending 31 March 2024 the LLP 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.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 1 of A LLP (registered number: OC446103) were approved and authorised for issue by the Board of Directors on 11 March 2025. They were signed on its behalf by:

G N Greenwood
Designated member
1 OF A LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1 OF A LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

1 of A LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Flat 2, 1-2 Wilton Terrace, London, SW1X 8RR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of 1 of A LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the LLP operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The members have made an assessment in preparing these financial statements as to whether the LLP is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

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.
Financial liabilities are derecognised when the LLP’s contractual obligations expire or are discharged or cancelled.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024
Number
Monthly average number of persons employed by the LLP during the year 2

3. Stocks

2024
£
Stocks 9,242

4. Debtors

2024
£
Trade debtors 252

5. Creditors: amounts falling due within one year

2024
£
Other taxation and social security 208
Other creditors 2,890
3,098