Acorah Software Products - Accounts Production 16.3.350 false true 5 April 2024 6 April 2023 false 6 April 2024 5 April 2025 5 April 2025 OC445481 Dr Timothy Gibson Ms Raluca Ionescu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC445481 2024-04-05 OC445481 2025-04-05 OC445481 2024-04-06 2025-04-05 OC445481 frs-core:CurrentFinancialInstruments 2025-04-05 OC445481 frs-core:Non-currentFinancialInstruments 2025-04-05 OC445481 frs-bus:LimitedLiabilityPartnershipLLP 2024-04-06 2025-04-05 OC445481 frs-bus:LimitedLiabilityPartnershipsSORP 2024-04-06 2025-04-05 OC445481 frs-bus:FilletedAccounts 2024-04-06 2025-04-05 OC445481 frs-bus:SmallEntities 2024-04-06 2025-04-05 OC445481 frs-bus:AuditExempt-NoAccountantsReport 2024-04-06 2025-04-05 OC445481 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-06 2025-04-05 OC445481 frs-countries:EnglandWales 2024-04-06 2025-04-05 OC445481 frs-bus:PartnerLLP1 2024-04-06 2025-04-05 OC445481 frs-bus:PartnerLLP2 2024-04-06 2025-04-05 OC445481 2023-04-05 OC445481 2024-04-05 OC445481 2023-04-06 2024-04-05 OC445481 frs-core:CurrentFinancialInstruments 2024-04-05 OC445481 frs-core:Non-currentFinancialInstruments 2024-04-05
Registered number: OC445481
IONESCU GIBSON LLP
Unaudited Financial Statements
For The Year Ended 5 April 2025
Optimise Accountants Ltd
Office 15 Bramley House, 2a Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC445481
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 2,013,187 1,920,000
2,013,187 1,920,000
CURRENT ASSETS
Debtors 5 41,064 23,874
Cash at bank and in hand 10,859 2,136
51,923 26,010
Creditors: Amounts Falling Due Within One Year 6 3,941 (386 )
NET CURRENT ASSETS (LIABILITIES) 55,864 25,624
TOTAL ASSETS LESS CURRENT LIABILITIES 2,069,051 1,945,624
Creditors: Amounts Falling Due After More Than One Year 7 (1,247,961 ) (1,235,924 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 821,090 709,700
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 727,903 709,700
727,903 709,700
Equity
Members' other interests
Revaluation reserve 93,187 -
93,187 -
821,090 709,700
TOTAL MEMBERS' INTEREST
Amounts due from members (40,537) (22,450)
Loans and other debts due to members within one year 727,903 709,700
Members' other interests 93,187 -
780,553 687,250
Page 1
Page 2
For the year ending 5 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Dr Timothy Gibson
Designated Member
24/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
IONESCU GIBSON LLP is a limited liability partnership, incorporated in England & Wales, registered number OC445481 . The Registered Office is 47 Napoleon Road, Twickenham, Middlesex, TW1 3EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2024: 2)
2 2
4. Investment Property
2025
£
Fair Value
As at 6 April 2024 1,920,000
Revaluations 93,187
As at 5 April 2025 2,013,187
5. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 527 1,424
Amounts due from members 40,537 22,450
41,064 23,874
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 1
Other creditors (3,941 ) 385
(3,941 ) 386
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,247,961 1,235,924
Page 4