Registration number:
Inbroke LLP
for the Year Ended 30 April 2025
Inbroke LLP
Contents
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Inbroke LLP
(Registration number: OC422046)
Balance Sheet as at 30 April 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
1,436 |
2,326 |
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Current assets |
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Debtors |
255 |
255 |
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Cash and short-term deposits |
46,218 |
43,685 |
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46,473 |
43,940 |
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Creditors: Amounts falling due within one year |
(4,260) |
(4,698) |
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Net current assets |
42,213 |
39,242 |
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Net assets attributable to members |
43,649 |
41,568 |
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Represented by: |
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Members’ other interests |
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Members' capital classified as equity |
519 |
519 |
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Other reserves |
43,130 |
41,049 |
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43,649 |
41,568 |
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43,649 |
41,568 |
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Total members' interests |
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Equity |
43,649 |
41,568 |
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43,649 |
41,568 |
For the year ending 30 April 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. 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.
The members acknowledge their responsibilities for complying with the requirements of the Act, 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.
Inbroke LLP
(Registration number: OC422046)
Balance Sheet as at 30 April 2025
The financial statements of Inbroke LLP (registered number OC422046) were approved by the
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Inbroke LLP
Notes to the Financial Statements for the Year Ended 30 April 2025
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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 England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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 Inbroke 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.
Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Thus the members have continued to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members. The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Inbroke LLP
Notes to the Financial Statements for the Year Ended 30 April 2025
Foreign currency
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
33% Straight line |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Members' interests
Members' capital is repayable on retirement of the member and is therefore classified as a liability. Because members may retire with less than one year's notice and typically have their capital repaid within one year of serving notice, members' capital is shown as being due within one year. Amount due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
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Particulars of employees |
The average number of persons employed by the limited liability partnership (including the members) during the year was
Inbroke LLP
Notes to the Financial Statements for the Year Ended 30 April 2025
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Tangible fixed assets |
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Office equipment |
Total |
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Cost |
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At 1 May 2024 |
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At 30 April 2025 |
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Depreciation |
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At 1 May 2024 |
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Charge for the year |
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At 30 April 2025 |
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Net book value |
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At 30 April 2025 |
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At 30 April 2024 |
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Debtors |
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2025 |
2024 |
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Prepayments and accrued income |
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Total current trade and other debtors |
255 |
255 |
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Creditors: Amounts falling due within one year |
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2025 |
2024 |
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Other creditors |
- |
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Accruals and deferred income |
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Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.