Registered number
OC413477
COLELLA CONSULTING LLP
Filleted Accounts
31 August 2024
COLELLA CONSULTING LLP
Registered number: OC413477
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 504,000 -
Tangible assets 4 943 1,179
504,943 1,179
Current assets
Debtors 5 70,638 93,836
Cash at bank and in hand 64 1,753
70,702 95,589
Creditors: amounts falling due within one year 6 (504,296) (14,000)
Net current (liabilities)/assets (433,594) 81,589
Total assets less current liabilities 71,349 82,768
Net assets attributable to members 71,349 82,768
Represented by:
Members' other interests
Members' capital classified as equity 100 100
Other reserves 71,249 82,668
71,349 82,768
71,349 82,768
Total members' interests
Members' other interests 71,349 82,768
71,349 82,768
For the year ended 31 August 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 28 May 2025 and signed on their behalf by:
Ettore Colella
Designated member
COLELLA CONSULTING LLP
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 20% RBM
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Intangible fixed assets £
Goodwill:
Cost
Additions 504,000
At 31 August 2024 504,000
Amortisation
At 31 August 2024 -
Net book value
At 31 August 2024 504,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 1,356
At 31 August 2024 1,356
Depreciation
At 1 September 2023 177
Charge for the year 236
At 31 August 2024 413
Net book value
At 31 August 2024 943
At 31 August 2023 1,179
5 Debtors 2024 2023
£ £
Trade debtors - 1,198
Prepayment - 22,000
Other debtors 70,638 70,638
70,638 93,836
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 450,169 -
Other creditors 54,127 14,000
504,296 14,000
7 Other information
COLELLA CONSULTING LLP is a limited liability partnership incorporated in England. Its registered office is:
Third Floor
207 Regent Street
London
England
W1B 3HH
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