Ada Partners LLP OC423404 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of Venture Capitalists Digita Accounts Production Advanced 6.30.9574.0 true OC423404 2024-04-01 2025-03-31 OC423404 2025-03-31 OC423404 core:CurrentFinancialInstruments 2025-03-31 OC423404 core:WithinOneYear 2025-03-31 OC423404 core:FurnitureFittings 2025-03-31 OC423404 core:OfficeEquipment 2025-03-31 OC423404 bus:SmallEntities 2024-04-01 2025-03-31 OC423404 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC423404 bus:FilletedAccounts 2024-04-01 2025-03-31 OC423404 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC423404 bus:RegisteredOffice 2024-04-01 2025-03-31 OC423404 bus:PartnerLLP1 2024-04-01 2025-03-31 OC423404 bus:PartnerLLP2 2024-04-01 2025-03-31 OC423404 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC423404 core:ComputerEquipment 2024-04-01 2025-03-31 OC423404 core:FurnitureFittings 2024-04-01 2025-03-31 OC423404 core:OfficeEquipment 2024-04-01 2025-03-31 OC423404 countries:AllCountries 2024-04-01 2025-03-31 OC423404 2024-03-31 OC423404 core:FurnitureFittings 2024-03-31 OC423404 core:OfficeEquipment 2024-03-31 OC423404 2023-04-01 2024-03-31 OC423404 2024-03-31 OC423404 core:CurrentFinancialInstruments 2024-03-31 OC423404 core:WithinOneYear 2024-03-31 OC423404 core:FurnitureFittings 2024-03-31 OC423404 core:OfficeEquipment 2024-03-31 iso4217:GBP xbrli:pure

Registration number: OC423404

Ada Partners LLP

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Ada Partners LLP

Limited liability partnership information

Designated members

Matthew Penneycard

Francesca Warner
 

Registered office

United House
9 Pembridge Road
London
W11 3JY

Accountants

EVMS Partners LLP
Chartered Accountants
45 Ludgate Hill
London
EC4M 7JU

 

Ada Partners LLP

Statement of Members' Responsibilities for the Year Ended 31 March 2025

The members acknowledge their responsibilities for complying with the requirements of 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 with respect to accounting records and the preparation of accounts.

The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law as applied to LLPs the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that year. In preparing these financial statements, the members are required to:

select suitable accounting policies and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Partnership will continue in business.

The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with 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, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued January 2017). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The members are responsible for the maintenance and integrity of the corporate and financial information included on the Limited Liability Partnership's website. It is important to bear in mind that legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

 

Ada Partners LLP

(Registration number: OC423404)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

3

7,462

8,482

Current assets

 

Debtors

4

63,135

44,415

Cash and short-term deposits

 

86,498

136,579

 

149,633

180,994

Creditors: Amounts falling due within one year

5

(90,962)

(75,706)

Net current assets

 

58,671

105,288

Net assets attributable to members

 

66,133

113,770

Represented by:

 

Loans and other debts due to members

 

Other amounts

36,133

83,770

Members’ other interests

 

Members' capital classified as equity

 

30,000

30,000

   

66,133

113,770

Total members' interests

 

Loans and other debts due to members

 

36,133

83,770

Equity

 

30,000

30,000

   

66,133

113,770

 

Ada Partners LLP

(Registration number: OC423404)
Balance Sheet as at 31 March 2025

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

Approved on behalf of the members on 24 July 2025.

.........................................
Matthew Penneycard
Designated member

 

Ada Partners LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Ada Partners LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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.

Foreign currency

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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

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:

 

Ada Partners LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Asset class

Depreciation method and rate

Fixtures and fittings

5 years

Computer Equipment

3 years

Pensions and other post retirement obligations

The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss account as they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 4 (2024 - 3).

 

Ada Partners LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

3

Tangible fixed assets

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 April 2024

9,362

10,085

19,447

Additions

-

4,204

4,204

Disposals

-

(384)

(384)

At 31 March 2025

9,362

13,905

23,267

Depreciation

At 1 April 2024

6,216

4,749

10,965

Charge for the year

1,651

3,443

5,094

Eliminated on disposals

-

(254)

(254)

At 31 March 2025

7,867

7,938

15,805

Net book value

At 31 March 2025

1,495

5,967

7,462

At 31 March 2024

3,146

5,336

8,482

4

Debtors

2025
£

2024
£

Trade debtors

-

12,000

Amounts owed by group undertakings

392

202

Other debtors

13,689

5,700

Prepayments and accrued income

49,054

26,513

Total current trade and other debtors

63,135

44,415

5

Creditors: Amounts falling due within one year

2025
£

2024
£

Trade creditors

27,403

32,674

Other creditors

3,901

13,882

Accruals and deferred income

44,744

12,939

Taxation and social security

14,914

16,211

90,962

75,706

 

Ada Partners LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Control

The LLP was controlled throughout the period by its members.