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REGISTERED NUMBER: OC314867
Douse Associates 2017 LLP
Unaudited Financial Statements
31 August 2024
Douse Associates 2017 LLP
Financial Statements
Year ended 31 August 2024
Contents
Page
Members' report
1
Report to the members on the preparation of the unaudited statutory financial statements
3
Statement of financial position
4
Notes to the financial statements
5
Douse Associates 2017 LLP
Members' Report
Year ended 31 August 2024
The members present their report and the unaudited financial statements of the LLP for the year ended 31 August 2024 .
The LLP has been dormant as defined in section 1169 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 throughout the year. It is anticipated that the LLP will remain dormant for the foreseeable future.
Principal activities
The principal activity of the LLP was the provision of specialist marketing.
Designated members
The designated members who served the LLP during the year were as follows:
S A Douse
Parkleigh Limited
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Susan Douse contributed the initial capital on becoming a Member of the LLP. Additional capital is contributed when required to satisfy regulatory and working capital requirements in the proportion in which, at the time they are required to make the capital contribution, the members share in the profits or losses of the LLP. Any Member who is required to make a contribution of capital to the LLP shall acquire a new Member's share or augment his or her previous Members' share by an amount equal to the amount or value of that contribution as a percentage of all contributions made to the capital of the LLP. Retiring Members are repaid any undrawn balance of the Outgoing Member's share of profits and the amount of any capital to which the Outgoing Member is entitled as credited by the LLP in his or her capital account after making provision for any liabilities to the LLP. Members' capital may not be redeemed except on the winding up of the firm or where an equal amount is transferred to another such account by the former member or a person replacing them as a member.
The members shall be entitled to participate in such share of profits as the Designated Members from time to time determine. Each member shall be entitled to monthly drawings on account for their share of profits as the Designated Members from time to time determine. The aggregate of such payments shall, together with any bonus allocation determined in accordance with the LLP agreement, be the total drawings to which such Member is entitled in respect of each accounting period.
This report was approved by the members on 31 March 2025 and signed on behalf of the members by:
S A Douse
Designated Member
Registered office:
Bourne House
475 Godstone Road
Whyteleafe
Surrey
England
CR3 0BL
Douse Associates 2017 LLP
Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Douse Associates 2017 LLP
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Douse Associates 2017 LLP for the year ended 31 August 2024, which comprise the statement of financial position and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
BAILHACHE LINTON LLP Accountants
Bourne House 475 Godstone Road Whyteleafe Surrey CR3 0BL
31 March 2025
Douse Associates 2017 LLP
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Current assets
Cash at bank and in hand
1,001
1,001
-------
-------
Net current assets
1,001
1,001
-------
-------
Total assets less current liabilities
1,001
1,001
-------
-------
Represented by:
Loans and other debts due to members
Other amounts
4
901
901
Members' other interests
Members' capital classified as equity
100
100
Other reserves
–
–
-------
-------
1,001
1,001
-------
-------
Total members' interests
Loans and other debts due to members
4
901
901
Members' other interests
100
100
-------
-------
1,001
1,001
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The LLP did not trade during the year and has not made either a profit or loss.
For the year ending 31 August 2024 the LLP was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to dormant LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 31 March 2025 , and are signed on their behalf by:
S A Douse
Designated Member
Registered number: OC314867
Douse Associates 2017 LLP
Notes to the Financial Statements
Year ended 31 August 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Bourne House, 475 Godstone Road, Whyteleafe, Surrey, CR3 0BL, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Douse Associates 2017 LLP ceased to trade with effect from 31 August 2018. The Financial Conduct Authority approved Douse Associates Limited for trading with effect from 3 September 2018. Therefore all previous trade of the LLP transferred across to Douse Associates Limited as at that date.
Income statement
The LLP is dormant as defined by section 1169 of the Companies Act 2006as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The LLP received no income and incurred no expenditure during the current year.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
4.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
901
901
----
----
5.
Related party transactions
The LLP is controlled by the designated members. The transactions and balances with these members during the year were as follows:
2024 2023
£ £
Amounts due to designated members 901 901
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. There are no restrictions or limitations on the ability of the members to reduce the amount of "members' other interests".