Registered number
OC432387
INVALEO LLP
Filleted Accounts
31 July 2024
Tally Accountants Ltd
Chartered Management Accountants
Top Floor, College House
17 King Edwards Road
Ruislip, Middx
HA4 7AE
TLY/INV/SS/PA/24/03/25/1
INVALEO LLP
Registered number: OC432387
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 216 404
Current assets
Cash at bank and in hand 118 133
Creditors: amounts falling due within one year 4 (300) (366)
Net current liabilities (182) (233)
Total assets less current liabilities 34 171
Net assets attributable to members 34 171
Represented by:
Loans and other debts due to members 5 3,690 3,242
Members' other interests
Other reserves (3,656) (3,071)
34 171
Total members' interests
Loans and other debts due to members 5 3,690 3,242
Members' other interests (3,656) (3,071)
34 171
For the year ended 31 July 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 4 March 2025 and signed on their behalf by:
…..............................
Abdelhamid Khalil
Designated member
INVALEO LLP
Notes to the Accounts
for the year ended 31 July 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 647
At 31 July 2024 647
Depreciation
At 1 August 2023 243
Charge for the year 188
At 31 July 2024 431
Net book value
At 31 July 2024 216
At 31 July 2023 404
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 300 366
5 Loans and other debts due to members 2024 2023
£ £
Loans from members 3,690 3,242
Amounts falling due within one year 3,690 3,242
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
INVALEO LLP is a limited liability partnership incorporated in England. Its registered office is:
No 27 Old Gloucester Street
London
United Kingdom.
WC1N 3AX
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