Registration number:
Code Red Training (Bristol) LLP
for the Year Ended 5 April 2024
Code Red Training (Bristol) 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 |
Code Red Training (Bristol) LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Code Red Training (Bristol) LLP
(Registration number: OC428000)
Balance Sheet as at 5 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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- |
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Cash and short-term deposits |
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- |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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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 |
75,214 |
67,081 |
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Members’ other interests |
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Other reserves |
( |
( |
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21,472 |
3,561 |
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Total members' interests |
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Loans and other debts due to members |
75,214 |
67,081 |
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Equity |
( |
( |
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21,472 |
3,561 |
For the year ending 5 April 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 and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. 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.
Code Red Training (Bristol) LLP
(Registration number: OC428000)
Balance Sheet as at 5 April 2024
The financial statements of Code Red Training (Bristol) LLP (registered number OC428000) were approved by the
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Code Red Training (Bristol) LLP
Notes to the Financial Statements for the Year Ended 5 April 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 Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in 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 are shown at fair value.
The functional currency of Code Red Training (Bristol) 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.
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 SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Code Red Training (Bristol) LLP
Notes to the Financial Statements for the Year Ended 5 April 2024
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.
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
5 year straight line |
Fixtures & fittings |
5 year straight line |
Motor Vehicles |
5 year straight line |
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.
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.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Code Red Training (Bristol) LLP
Notes to the Financial Statements for the Year Ended 5 April 2024
Tangible fixed assets |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost |
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At 6 April 2023 |
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Additions |
- |
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- |
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At 5 April 2024 |
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Depreciation |
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At 6 April 2023 |
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Charge for the year |
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At 5 April 2024 |
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Net book value |
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At 5 April 2024 |
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- |
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At 5 April 2023 |
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Debtors |
2024 |
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Prepayments and accrued income |
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Total current trade and other debtors |
327 |
Code Red Training (Bristol) LLP
Notes to the Financial Statements for the Year Ended 5 April 2024
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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Creditors: Amounts falling due after more than one year |
2024 |
2023 |
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Bank loans and overdrafts |
- |
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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.