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Registration number: OC387282

Collaborative Equity LLP

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Collaborative Equity LLP

(Registration number: OC387282)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

3

5,000

10,000

Tangible assets

4

53,147

79,980

 

58,147

89,980

Current assets

 

Debtors

5

52,296

62,386

Cash and short-term deposits

 

11,322

12,681

 

63,618

75,067

Creditors: Amounts falling due within one year

6

(66,558)

(54,596)

Net current (liabilities)/assets

 

(2,940)

20,471

Total assets less current liabilities

 

55,207

110,451

Creditors: Amounts falling due after more than one year

7

(1,667)

(11,667)

Net assets attributable to members

 

53,540

98,784

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

53,540

98,784

   

53,540

98,784

Total members' interests

 

Loans and other debts due to members

 

53,540

98,784

   

53,540

98,784

For the year ending 31 March 2025 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.

 

Collaborative Equity LLP

(Registration number: OC387282)
Balance Sheet as at 31 March 2025

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 Collaborative Equity LLP (registered number OC387282) were approved by the Board and authorised for issue on 29 April 2025. They were signed on behalf of the limited liability partnership by:


Mr G J Chick
Designated member

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1

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 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 are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its services. 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

Members' fixed shares of profits 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.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

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.

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Goodwill

33.3% straight line

Development costs

20% straight line

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

20% straight line

Leasehold improvements

20% straight line

Impairment of assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Trade debtors

Trade debtors are amounts due from customers for services performed. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the partnership has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Recognition and Measurement

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 2 (2024 - 2).

3

Intangible fixed assets

Goodwill
 £

Development costs
 £

Total
£

Cost

At 1 April 2024

19,316

25,000

44,316

At 31 March 2025

19,316

25,000

44,316

Amortisation

At 1 April 2024

19,316

15,000

34,316

Charge for the year

-

5,000

5,000

At 31 March 2025

19,316

20,000

39,316

Net book value

At 31 March 2025

-

5,000

5,000

At 31 March 2024

-

10,000

10,000

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Tangible fixed assets

Short leasehold land and buildings
£

Plant and machinery
 £

Total
£

Cost

At 1 April 2024

131,573

2,592

134,165

At 31 March 2025

131,573

2,592

134,165

Depreciation

At 1 April 2024

52,631

1,554

54,185

Charge for the year

26,315

518

26,833

At 31 March 2025

78,946

2,072

81,018

Net book value

At 31 March 2025

52,627

520

53,147

At 31 March 2024

78,942

1,038

79,980

5

Debtors

2025
 £

2024
 £

Trade debtors

52,296

62,386

52,296

62,386

6

Creditors: Amounts falling due within one year

2025
£

2024
£

Bank loans and overdrafts

10,000

10,000

Trade creditors

47,249

35,348

Accruals and deferred income

1,334

1,275

Taxation and social security

7,975

7,973

66,558

54,596

7

Creditors: Amounts falling due after more than one year

2025
 £

2024
 £

Bank loans and overdrafts

1,667

11,667

 

Collaborative Equity LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £34,667 (2024 - £50,667). Financial commitments comprise rent payable under the terms of a lease agreement.