| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| CAROL HAYES MANAGEMENT LLP |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| FOR |
| CAROL HAYES MANAGEMENT LLP |
| CAROL HAYES MANAGEMENT LLP (REGISTERED NUMBER: OC316525) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CAROL HAYES MANAGEMENT LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 55 Loudoun Road |
| St John's Wood |
| London |
| NW8 0DL |
| CAROL HAYES MANAGEMENT LLP (REGISTERED NUMBER: OC316525) |
| BALANCE SHEET |
| 30 JUNE 2024 |
| 30.6.24 | 30.6.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET LIABILITIES ATTRIBUTABLE TO MEMBERS |
(127,329 |
) |
(127,329 |
) |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
(127,329 |
) |
(127,329 |
) |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 6 | (127,329 | ) | (127,329 | ) |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| CAROL HAYES MANAGEMENT LLP (REGISTERED NUMBER: OC316525) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 1. | LIMITED LIABILITY PARTNERSHIP INFORMATION |
| Carol Hayes Management LLP is a limited liability partnership incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL. |
| The limited liability partnership's principal activities are disclosed in the Members' Report. |
| 2. | ACCOUNTING POLICIES |
| Accounting convention |
| These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
| The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership.Monetary amounts in these financial statements are rounded to the nearest £. |
| The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. |
| The LLP was dormant throughout the current year and previous year. |
| Members' participating interests |
| 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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| CAROL HAYES MANAGEMENT LLP (REGISTERED NUMBER: OC316525) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument. |
| Impairment of financial assets |
| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Other financial liabilities |
| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. |
| Equity instruments |
| Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2023 - NIL). |
| CAROL HAYES MANAGEMENT LLP (REGISTERED NUMBER: OC316525) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |