2 false false false false false false false false false false false false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 9,673 1,265 10,938 8,865 1,024 9,889 1,049 808 xbrli:pure xbrli:shares iso4217:GBP OC348723 2024-04-01 2025-03-31 OC348723 2025-03-31 OC348723 2024-03-31 OC348723 2022-10-01 2024-03-31 OC348723 2024-03-31 OC348723 2022-09-30 OC348723 bus:RegisteredOffice 2024-04-01 2025-03-31 OC348723 bus:LeadAgentIfApplicable 2024-04-01 2025-03-31 OC348723 bus:Director1 2024-04-01 2025-03-31 OC348723 bus:Director2 2024-04-01 2025-03-31 OC348723 bus:Director4 2024-04-01 2025-03-31 OC348723 bus:Director5 2024-04-01 2025-03-31 OC348723 bus:Director6 2024-04-01 2025-03-31 OC348723 bus:Director7 2024-04-01 2025-03-31 OC348723 core:WithinOneYear 2025-03-31 OC348723 core:WithinOneYear 2024-03-31 OC348723 bus:SmallEntities 2024-04-01 2025-03-31 OC348723 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC348723 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC348723 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC348723 bus:FullAccounts 2024-04-01 2025-03-31 OC348723 core:ComputerEquipment 2024-04-01 2025-03-31 OC348723 core:ComputerEquipment 2024-03-31 OC348723 core:ComputerEquipment 2025-03-31
REGISTERED NUMBER: OC348723
ISOS Partnership (UK) LLP
Filleted Unaudited Financial Statements
31 March 2025
ISOS Partnership (UK) LLP
Financial Statements
Year ended 31 March 2025
Contents
Page
Designated members and professional advisers
1
Chartered certified accountants report to the members on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
ISOS Partnership (UK) LLP
Designated Members and Professional Advisers
Designated members
R S Rea
S Day
R Page-Jones
N Parish
B P Bryant
J Z Reed
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
ISOS Partnership (UK) LLP
Chartered Certified Accountants Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of ISOS Partnership (UK) LLP
Year ended 31 March 2025
As described on the statement of financial position, the members of the LLP are responsible for the preparation of the financial statements for the year ended 31 March 2025, which comprise the statement of financial position and the related notes. You consider that the LLP is exempt from an audit 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. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions
727-729 High Road Chartered Certified Accountants London N12 0BP
ISOS Partnership (UK) LLP
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
1,049
808
Current assets
Debtors
6
119,171
148,935
Cash at bank and in hand
166,529
184,246
---------
---------
285,700
333,181
Creditors: amounts falling due within one year
7
56,804
48,511
---------
---------
Net current assets
228,896
284,670
---------
---------
Total assets less current liabilities
229,945
285,478
---------
---------
Net assets
229,945
285,478
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
8
229,945
285,478
---------
---------
Members' other interests
Other reserves
---------
---------
229,945
285,478
---------
---------
Total members' interests
Loans and other debts due to members
8
229,945
285,478
Members' other interests
---------
---------
229,945
285,478
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the income statement has not been delivered.
For the year ending 31 March 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) relating to small LLPs.
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 financial statements .
ISOS Partnership (UK) LLP
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the members and authorised for issue on 25 June 2025 , and are signed on their behalf by:
R S Rea
Designated Member
Registered number: OC348723
ISOS Partnership (UK) LLP
Notes to the Financial Statements
Year ended 31 March 2025
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debts. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. The turnover is recognised by reference to the stage of completion of the project.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the income statement in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the income statement and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the income statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 2 (2024: 2 ).
5.
Tangible assets
Equipment
£
Cost
At 1 April 2024
9,673
Additions
1,265
--------
At 31 March 2025
10,938
--------
Depreciation
At 1 April 2024
8,865
Charge for the year
1,024
--------
At 31 March 2025
9,889
--------
Carrying amount
At 31 March 2025
1,049
--------
At 31 March 2024
808
--------
6.
Debtors
2025
2024
£
£
Trade debtors
113,107
129,746
Other debtors
6,064
19,189
---------
---------
119,171
148,935
---------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
234
12,083
Social security and other taxes
31,730
34,794
Other creditors
24,840
1,634
--------
--------
56,804
48,511
--------
--------
8.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
222,945
280,478
Other amounts
7,000
5,000
---------
---------
229,945
285,478
---------
---------