| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 31 August 2024 |
| for |
| Carters Yorkshire LLP |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 31 August 2024 |
| for |
| Carters Yorkshire LLP |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
20,000 |
20,000 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
20,000 |
20,000 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 7 | 20,000 | 20,000 |
| Amounts due from members | 5 | (19,843 | ) | (19,460 | ) |
| 157 | 540 |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Carters Yorkshire LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view. |
| The financial statements have been prepared under the historical cost convention. |
| Income recognition |
| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred at the balance sheet date as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. |
| Tangible fixed assets |
| Tangible fixed assets are stated at purchase cost, net of depreciation. |
| Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life as follows: |
| Computer equipment | - 25% on cost |
| Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life. |
| The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account. |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing 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. |
| The following assets and liabilities are classified as basic financial instruments - trade debtors, cash and bank balances, other creditors, other debts due to members and bank loans. |
| Trade debtors, cash and bank balances, other creditors and other debts due to members are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received. |
| Impairment of assets |
| Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below. |
| Non financial assets |
| An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. |
| Financial assets |
| For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date. |
| Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2023 - NIL). |
| Carters Yorkshire LLP (Registered number: OC369894) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| Disposals | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Eliminated on disposal | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2024 | 2023 |
| £ | £ |
| Members' capital account | 20,000 | 20,000 |
| Falling due within one year | 20,000 | 20,000 |
| Loans from members and amounts owed to members rank equally with debts due to ordinary creditors in the event of a winding up. |