Registration number:
Credit Des Alpes LLP
for the Year Ended 30 June 2024
Pages for Filing with Registrar
Credit Des Alpes LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Credit Des Alpes LLP
Limited liability partnership information
Designated members |
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Members |
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Registered office |
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Accountants |
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Credit Des Alpes LLP
(Registration number: OC442713)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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- |
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Current assets |
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Debtors |
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Investments |
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- |
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Cash and short-term deposits |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
9,900 |
10,000 |
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Members’ other interest |
334,314 |
- |
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344,214 |
10,000 |
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Total members' interests |
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Amounts due from members |
- |
(13,120) |
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Loans and other debts due to members |
344,214 |
10,000 |
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344,214 |
(3,120) |
Credit Des Alpes LLP
(Registration number: OC442713)
Balance Sheet as at 30 June 2024
For the year ending 30 June 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Credit Des Alpes LLP (registered number OC442713) were approved by the
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Credit Des Alpes LLP
Notes to the Financial Statements for the Year Ended 30 June 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with Financial Reporting Standard 102 Section 1A - The Financial Reporting applicable in the UK and Republic of Ireland'.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items aare shown at fair value.
The functional currency of Credit Des Alphes LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
The members' agreement provides that all profits and losses are required to be automatically allocated. The profits and loss realised in the profit and loss account are treated as members' remuneration charged as an expense. Allocated profit and loss is included within 'loans and other debts due to members' in other amounts'.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Credit Des Alpes LLP
Notes to the Financial Statements for the Year Ended 30 June 2024
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Current asset investments
Current asset investments are those which are held for resale or pending their sale and cash on deposit with a maturity date of less than one year held for short-term investment purposes rather than cashflow. Current asset investments are valued at fair value unless they qualify as ‘basic’ financial assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date. In the event of the wind up of the LLP, members' interests rank parri passu with any other unsecured creditors. In the event of the wind up of the LLP, members' interests rank parri passu with any other unsecured creditors.
Financial instruments
Classification
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Credit Des Alpes LLP
Notes to the Financial Statements for the Year Ended 30 June 2024
Impairment of financial assets
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Cryptocurrency transactions
During the period, the partnership held cryptocurrency on behalf of CDA Holding Ltd, a member company. Credit Des Alpes LLP did not assume ownership or bear any risk relating to the cryptocurrency during the financial year. The cryptocurrency held during the period was sold post year-end, and proceeds were transferred to CDA Holding Ltd at no gain no loss. Given the aforementioned, the cryptocurrency was derecognised from the financial statements.
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Member's opinion there are no significant judgements or key sources of estimation uncertainty.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Credit Des Alpes LLP
Notes to the Financial Statements for the Year Ended 30 June 2024
Investments held as fixed assets |
2024 |
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Other investments |
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Other investments
Listed investments |
Total |
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Cost |
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Revaluation |
7,713 |
7,713 |
Additions |
156,391 |
156,391 |
At 30 June 2024 |
164,104 |
164,104 |
Net book value |
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At 30 June 2024 |
164,104 |
164,104 |
Debtors |
2024 |
2023 |
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Other debtors |
- |
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Prepayments and accrued income |
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- |
1,726 |
13,120 |
Current asset investments |
2024 |
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Other investments |
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Creditors: Amounts falling due within one year |
2024 |
2023 |
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Bank loans and overdrafts |
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- |
Trade creditors |
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- |
Accruals |
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Credit Des Alpes LLP
Notes to the Financial Statements for the Year Ended 30 June 2024
Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.