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Registration number: OC394609

Data Systems Management LLP

Annual Report and Unaudited Financial Statements - Companies House Filing

for the period from 1 September 2023 to 31 March 2024

 

Data Systems Management LLP

(Registration number: OC394609)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

456

533

Current assets

 

Debtors

5

1,717

781

Cash and short-term deposits

 

8,760

13,049

 

10,477

13,830

Creditors: Amounts falling due within one year

6

(2,360)

(1,721)

Net current assets

 

8,117

12,109

Net assets attributable to members

 

8,573

12,642

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

8,573

12,642

   

8,573

12,642

Total members' interests

 

Loans and other debts due to members

 

8,573

12,642

   

8,573

12,642

For the year ending 31 March 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. 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 Data Systems Management LLP (registered number OC394609) were approved by the Board and authorised for issue on 31 January 2025. They were signed on behalf of the limited liability partnership by:

 

Data Systems Management LLP

(Registration number: OC394609)
Balance Sheet as at 31 March 2024

.........................................
M L Bragg
Designated member

.........................................
S M Bragg
Designated member

 

Data Systems Management LLP

Notes to the Financial Statements for the Period from 1 September 2023 to 31 March 2024

1

General information

Data Systems Management LLP (LLP number:OC394609) is a limited liability partnership incorporated in England and Wales. Its registered office is 1 Yolland Close, Upper Hale, Farnham, Surrey, GU9 0PE.

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in December 2018.

The presentation currency of the financial statements is the Pounds Sterling (£).

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.

2

Accounting policies

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.

other taxes policy

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

25% reducing balance

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.

 

Data Systems Management LLP

Notes to the Financial Statements for the Period from 1 September 2023 to 31 March 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.

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

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 2 (2023 - 2).

 

Data Systems Management LLP

Notes to the Financial Statements for the Period from 1 September 2023 to 31 March 2024

4

Tangible fixed assets

Plant and machinery
 £

Total
£

Cost

At 1 September 2023

4,655

4,655

At 31 March 2024

4,655

4,655

Depreciation

At 1 September 2023

4,122

4,122

Charge for the year

77

77

At 31 March 2024

4,199

4,199

Net book value

At 31 March 2024

456

456

At 31 August 2023

533

533

5

Debtors

2024
£

2023
£

Trade debtors

1,717

781

Total current trade and other debtors

1,717

781

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

996

622

Accruals and deferred income

1,294

940

Taxation and social security

70

159

2,360

1,721