Registered number
OC432048
Niche PPS LLP
Micro-entity Accounts
31 March 2024
Niche PPS LLP
Registered number: OC432048
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 15,000 15,000
Cash at bank and in hand 69 1,925
15,069 16,925
Creditors: amounts falling due within one year 4 (12,550) (14,878)
Net current assets 2,519 2,047
Total assets less current liabilities 2,519 2,047
Net assets attributable to members 2,519 2,047
Represented by:
Loans and other debts due to members 5 (112,411) (69,322)
Members' other interests
Other reserves 114,930 71,369
2,519 2,047
Total members' interests
Loans and other debts due to members 5 (112,411) (69,322)
Members' other interests 114,930 71,369
2,519 2,047
For the year ended 31 March 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 25 January 2025 and signed on their behalf by:
Mrs Margaret Ann Mary Routledge
Designated member
Niche PPS LLP
Notes to the Accounts
for the year ended 31 March 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Debtors 2024 2023
£ £
Other debtors 15,000 15,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 12,550 14,878
5 Loans and other debts due to members 2024 2023
£ £
Loans from members 23,742 14,678
Amounts due to members in respect of profits (136,153) (84,000)
(112,411) (69,322)
Amounts falling due within one year (112,411) (69,322)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Niche PPS LLP is a limited liability partnership incorporated in England. Its registered office is:
Paddock Woods
Petworth Road
Wormley
Godalming
GU8 5TR
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