Fondo Per L'Arte LLP OC436919 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is trading in artwork. Digita Accounts Production Advanced 6.30.9574.0 true OC436919 2023-05-01 2024-04-30 OC436919 2024-04-30 OC436919 core:CurrentFinancialInstruments 2024-04-30 OC436919 bus:SmallEntities 2023-05-01 2024-04-30 OC436919 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 OC436919 bus:FilletedAccounts 2023-05-01 2024-04-30 OC436919 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC436919 bus:RegisteredOffice 2023-05-01 2024-04-30 OC436919 bus:PartnerLLP1 2023-05-01 2024-04-30 OC436919 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC436919 countries:AllCountries 2023-05-01 2024-04-30 OC436919 2022-05-01 2023-04-30 OC436919 2023-04-30 OC436919 core:CurrentFinancialInstruments 2023-04-30 iso4217:GBP xbrli:pure

Registration number: OC436919

Fondo Per L'Arte LLP

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Fondo Per L'Arte LLP

Limited liability partnership information

Members

Mr Stefano Cecchi

Registered office

5th Floor
86 Jermyn Street
London
SW1Y 6AW

Accountants

Verfides
5th Floor
86 Jermyn Street
London
SW1Y 6AW

 

Fondo Per L'Arte LLP

(Registration number: OC436919)
Abridged Balance Sheet as at 30 April 2024

Note

2024

2023

Current assets

 

Stocks

4,852,670

5,592,854

Debtors

3

736,097

339,611

Cash and short-term deposits

 

27,086

42,245

 

5,615,853

5,974,710

Prepayments and accrued income

 

3,211

8,095

Creditors: Amounts falling due within one year

(1,561,045)

(1,429,176)

Total assets less current liabilities

 

4,058,019

4,553,629

Accruals and deferred income

 

(12,117)

(4,959)

Net assets attributable to members

 

4,045,902

4,548,670

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

(899,207)

(910,291)

Members’ other interests

 

Members' capital classified as equity

 

4,945,109

5,458,961

   

4,045,902

4,548,670

Total members' interests

 

Loans and other debts due to members

 

(899,207)

(910,291)

Equity

 

4,945,109

5,458,961

   

4,045,902

4,548,670

For the year ending 30 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.

The financial statements of Fondo Per L'Arte LLP (registered number OC436919) were approved by the Board and authorised for issue on 30 April 2025. They were signed on behalf of the limited liability partnership by:

 

Fondo Per L'Arte LLP

(Registration number: OC436919)
Abridged Balance Sheet as at 30 April 2024

.........................................
Mr Stefano Cecchi
Member

 

Fondo Per L'Arte LLP

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024

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 abridged 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 abridged 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 Fondo Per L'Arte LLP is considered to be Euros 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.

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.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Fondo Per L'Arte LLP

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024

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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

3

Stocks

2024

2023

Stocks

4,852,670

5,592,854