Acorah Software Products - Accounts Production 16.2.850 false true false 9 August 2023 31 August 2024 31 August 2024 OC448563 Miss Megan Howard Mrs Catherine Kneale iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC448563 2023-08-08 OC448563 2024-08-31 OC448563 2023-08-09 2024-08-31 OC448563 frs-core:CurrentFinancialInstruments 2024-08-31 OC448563 frs-core:Non-currentFinancialInstruments 2024-08-31 OC448563 frs-core:BetweenOneFiveYears 2024-08-31 OC448563 frs-core:ComputerEquipment 2024-08-31 OC448563 frs-core:ComputerEquipment 2023-08-09 2024-08-31 OC448563 frs-core:ComputerEquipment 2023-08-08 OC448563 frs-core:MoreThanFiveYears 2024-08-31 OC448563 frs-core:MotorVehicles 2024-08-31 OC448563 frs-core:MotorVehicles 2023-08-09 2024-08-31 OC448563 frs-core:MotorVehicles 2023-08-08 OC448563 frs-bus:LimitedLiabilityPartnershipLLP 2023-08-09 2024-08-31 OC448563 frs-bus:LimitedLiabilityPartnershipsSORP 2023-08-09 2024-08-31 OC448563 frs-bus:FilletedAccounts 2023-08-09 2024-08-31 OC448563 frs-bus:SmallEntities 2023-08-09 2024-08-31 OC448563 frs-bus:AuditExempt-NoAccountantsReport 2023-08-09 2024-08-31 OC448563 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-09 2024-08-31 OC448563 frs-countries:EnglandWales 2023-08-09 2024-08-31 OC448563 frs-bus:PartnerLLP1 2023-08-09 2024-08-31 OC448563 frs-bus:PartnerLLP2 2023-08-09 2024-08-31
Registered number: OC448563
The One With The Diamond Art LLP
Unaudited Financial Statements
For the Period 9 August 2023 to 31 August 2024
TaxAssist Accountants
TaxAssist Accountants
1 Sundorne Avenue
Shrewsbury
Shropshire
SY1 4JW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC448563
31 August 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 28,281
28,281
CURRENT ASSETS
Stocks 5 3,725
Cash at bank and in hand 32,938
36,663
Creditors: Amounts Falling Due Within One Year 7 (35,492 )
NET CURRENT ASSETS (LIABILITIES) 1,171
TOTAL ASSETS LESS CURRENT LIABILITIES 29,452
Creditors: Amounts Falling Due After More Than One Year 8 (41,795 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (12,343 )
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 27,184
27,184
Equity
Members' other interests
Members' capital (39,527)
(39,527)
(12,343)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 27,184
Members' other interests (39,527)
(12,343)
Page 1
Page 2
For the period ending 31 August 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 Income Statement.
On behalf of the members
Miss Megan Howard
Designated Member
9th May 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
The One With The Diamond Art LLP is a limited liability partnership, incorporated in England & Wales, registered number OC448563 . The Registered Office is 2a Connaught Avenue, London, E4 7AA.
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.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% RBM
Computer Equipment 25% RBM
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: 2
2
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 9 August 2023 - - -
Additions 37,175 534 37,709
As at 31 August 2024 37,175 534 37,709
Depreciation
As at 9 August 2023 9,294 - 9,294
Provided during the period - 134 134
As at 31 August 2024 9,294 134 9,428
Net Book Value
As at 31 August 2024 27,881 400 28,281
As at 9 August 2023 (9,294 ) - (9,294 )
5. Stocks
31 August 2024
£
Finished goods 3,725
7. Creditors: Amounts Falling Due Within One Year
31 August 2024
£
Trade creditors 32,951
VAT 2,541
35,492
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2024
£
Net obligations under finance lease and hire purchase contracts 41,795
41,795
9. Obligations Under Finance Leases and Hire Purchase
31 August 2024
£
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 41,795
Later than five years -
41,795
41,795
Page 4