Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 OC423309 Mr Ayoade Owoade Mrs Elizabeth Owoade iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC423309 2023-07-31 OC423309 2024-07-31 OC423309 2023-08-01 2024-07-31 OC423309 frs-core:Non-currentFinancialInstruments 2024-07-31 OC423309 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 OC423309 frs-bus:LimitedLiabilityPartnershipLLP 2023-08-01 2024-07-31 OC423309 frs-bus:LimitedLiabilityPartnershipsSORP 2023-08-01 2024-07-31 OC423309 frs-bus:AbridgedAccounts 2023-08-01 2024-07-31 OC423309 frs-bus:SmallEntities 2023-08-01 2024-07-31 OC423309 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 OC423309 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 OC423309 frs-countries:EnglandWales 2023-08-01 2024-07-31 OC423309 frs-bus:PartnerLLP1 2023-08-01 2024-07-31 OC423309 frs-bus:PartnerLLP2 2023-08-01 2024-07-31 OC423309 2022-07-31 OC423309 2023-07-31 OC423309 2022-08-01 2023-07-31 OC423309 frs-core:Non-currentFinancialInstruments 2023-07-31
Registered number: OC423309
Citti Properties LLP
ABRIDGED Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Accountants' Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—5
Page 1
Accountants' Report
Report to the partners on the preparation of the unaudited statutory accounts of Citti Properties LLP For The Year Ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the accounts of Citti Properties LLP which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the partnership’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the partners of Citti Properties LLP, as a body, in accordance with the terms of our engagement letter dated 10 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of Citti Properties LLP and state those matters that we have agreed to state to the partners of Citti Properties LLP, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Citti Properties LLP and its partners as a body for our work or for this report.
It is your duty to ensure that Citti Properties LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Citti Properties LLP. You consider that Citti Properties LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Citti Properties LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
7 February 2025
Feldon Accountancy
Chartered Certified Accountants
Westwood House
78 Loughborough Road, Quorn
Loughborough
Leicestershire
LE12 8DX
Page 1
Page 2
Abridged Balance Sheet
Registered number: OC423309
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 342,828 342,828
342,828 342,828
CURRENT ASSETS
Cash at bank and in hand 41,370 40,588
41,370 40,588
Creditors: Amounts Falling Due Within One Year (41,171 ) (41,091 )
NET CURRENT ASSETS (LIABILITIES) 199 (503 )
TOTAL ASSETS LESS CURRENT LIABILITIES 343,027 342,325
Creditors: Amounts Falling Due After More Than One Year (249,735 ) (249,735 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 93,292 92,590
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 56,750 56,048
56,750 56,048
Equity
Members' other interests
Members' capital 36,542 36,542
36,542 36,542
93,292 92,590
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 56,750 56,048
Members' other interests 36,542 36,542
93,292 92,590
Page 2
Page 3
For the year ending 31 July 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.
All of the LLP's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mr Ayoade Owoade
Designated Member
Mrs Elizabeth Owoade
Designated Member
7 February 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Citti Properties LLP is a limited liability partnership, incorporated in England & Wales, registered number OC423309 . The Registered Office is Westwood House, 78 Loughborough Road, Quorn, Loughborough, LE12 8DX.
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. 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:
Freehold 0%
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 1)
1 1
Page 4
Page 5
4. Tangible Assets
Total
£
Cost
As at 1 August 2023 342,828
As at 31 July 2024 342,828
Net Book Value
As at 31 July 2024 342,828
As at 1 August 2023 342,828
Page 5