Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 OC309559 Ms Mariana SERRANO Mr Diego Serrano iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC309559 2023-12-31 OC309559 2024-12-31 OC309559 2024-01-01 2024-12-31 OC309559 frs-core:CurrentFinancialInstruments 2024-12-31 OC309559 frs-bus:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC309559 frs-bus:LimitedLiabilityPartnershipsSORP 2024-01-01 2024-12-31 OC309559 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 OC309559 frs-bus:SmallEntities 2024-01-01 2024-12-31 OC309559 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 OC309559 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 OC309559 frs-countries:EnglandWales 2024-01-01 2024-12-31 OC309559 frs-bus:PartnerLLP1 2024-01-01 2024-12-31 OC309559 frs-bus:PartnerLLP2 2024-01-01 2024-12-31 OC309559 2022-12-31 OC309559 2023-12-31 OC309559 2023-01-01 2023-12-31 OC309559 frs-core:CurrentFinancialInstruments 2023-12-31 OC309559 frs-core:OtherReservesSubtotal 2022-12-31
Registered number: OC309559
SUMERIAN TRADE LLP
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Reconciliation of Members' Interests 2—3
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC309559
2024 2023
Notes $ $ $ $
CURRENT ASSETS
Stocks 4 16,002 747,556
Debtors 5 6,579,713 8,137,965
Cash at bank and in hand 2,119,923 2,699,492
8,715,638 11,585,013
Creditors: Amounts Falling Due Within One Year 6 (4,423,211 ) (7,615,378 )
NET CURRENT ASSETS (LIABILITIES) 4,292,427 3,969,635
TOTAL ASSETS LESS CURRENT LIABILITIES 4,292,427 3,969,635
NET ASSETS ATTRIBUTABLE TO MEMBERS 4,292,427 3,969,635
REPRESENTED BY:
Equity
Members' other interests
Members' capital 4 4
Other reserves 4,292,423 3,969,631
4,292,427 3,969,635
TOTAL MEMBERS' INTEREST
Members' other interests 4,292,427 3,969,635
4,292,427 3,969,635
For the year ending 31 December 2024 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
Ms Mariana SERRANO
Designated Member
Mr Diego Serrano
Designated Member
27/05/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 1
Page 2
Reconciliation of Members' Interests
EQUITY
Members' other interests
Members'Capital classified as Equity Other Reserves Total Equity Total members' interest
$ $ $ $
Balance at 1 January 2023 4 2,743,148 2,743,152 2,743,152
Profit/(loss) for the financial year available for discretionary division among members - 1,226,483 1,226,483 1,226,483
Members' interests after profit/(loss) for the year 4 3,969,631 3,969,635 3,969,635
As at 31 December 2023 and 1 January 2024 4 3,969,631 3,969,635 3,969,635
Profit/(loss) for the financial year available for discretionary division among members - 322,792 322,792 322,792
Members' interests after profit/(loss) for the year 4 4,292,423 4,292,427 4,292,427
As at 31 December 2024 4 4,292,423 4,292,427 4,292,427
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SUMERIAN TRADE LLP is a limited liability partnership, incorporated in England & Wales, registered number OC309559 . The Registered Office is 7 Bell Yard, London, WC2A 2JR.
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 US dollars 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. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members, during the year was as follows: 0 NIL (2023: NIL)
- -
4. Stocks
2024 2023
$ $
Finished goods 16,002 747,556
5. Debtors
2024 2023
$ $
Due within one year
Trade debtors 5,151,914 6,906,884
Amounts owed by related parties 1,427,799 1,231,081
6,579,713 8,137,965
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
$ $
Trade creditors 1,225,653 1,779,617
Other creditors 3,197,558 5,835,761
4,423,211 7,615,378
Page 4