Registered number
OC302777
Effusion LLP
Filleted Accounts
3 September 2024
Effusion LLP
Registered number: OC302777
Balance Sheet
as at 3 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,913 9,779
Current assets
Stocks 15,000 15,000
Debtors 4 167,653 262,135
Cash at bank and in hand 875 -
183,528 277,135
Creditors: amounts falling due within one year 5 (154,468) (216,640)
Net current assets 29,060 60,495
Total assets less current liabilities 37,973 70,274
Creditors: amounts falling due after more than one year 6 (15,059) (25,188)
Net assets attributable to members 22,914 45,086
Represented by:
Loans and other debts due to members 7 22,914 45,086
22,914 45,086
Total members' interests
Loans and other debts due to members 7 22,914 45,086
22,914 45,086
For the year ended 3 September 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 12 August 2025 and signed on their behalf by:
Richard Dickinson
Designated member
Effusion LLP
Notes to the Accounts
for the year ended 3 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% and 25% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 7 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 4 September 2023 86,043
Additions 3,768
At 3 September 2024 89,811
Depreciation
At 4 September 2023 76,264
Charge for the year 4,634
At 3 September 2024 80,898
Net book value
At 3 September 2024 8,913
At 3 September 2023 9,779
4 Debtors 2024 2023
£ £
Trade debtors 128,125 235,267
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest 12,707 -
Other debtors 26,821 26,868
167,653 262,135
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,888 13,452
Trade creditors 22,595 16,763
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest - 96,825
Other taxes and social security costs 99,838 63,427
Other creditors 22,147 26,173
154,468 216,640
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,059 25,188
7 Loans and other debts due to members 2024 2023
£ £
Loans from members 22,914 45,086
Amounts falling due within one year 22,914 45,086
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Pension commitments
The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £10,850 (2023 : £9,357). Contributions totaling £2.558 (2023 : £16,290) were payable to at to the fund balance sheet date and our included in creditors.
9 Related party transactions
During the year LLP billed for services totaling £48,322 from Penelope Technical Ltd, a company of which two of the members are directors. As at 03 September 2024 the balance owed by company was £12,707 which is shown in note -4 under debtors.
10 Other information
Effusion LLP is a limited liability partnership incorporated in England. Its registered office is:
Suite 2, St George's Lodge
33 Oldfield Road, Bath
England
BA2 3NE
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