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Registered number: OC423897
Global Networks Management LLP
Unaudited Financial Statements
For The Year Ended 31 August 2024
Ryder Tax Consultants Ltd
Richmond Bridge House 419 Richmond Road
Twickenham
TW1 2EX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3
Page 1
Balance Sheet
Registered number: OC423897
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 - 2,399
Cash at bank and in hand 211,790 117,424
211,790 119,823
Creditors: Amounts Falling Due Within One Year 5 (103,082 ) (59,835 )
NET CURRENT ASSETS (LIABILITIES) 108,708 59,988
TOTAL ASSETS LESS CURRENT LIABILITIES 108,708 59,988
NET ASSETS ATTRIBUTABLE TO MEMBERS 108,708 59,988
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 94,499 51,939
Other amounts 14,209 8,049
108,708 59,988
108,708 59,988
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 108,708 59,988
108,708 59,988
Page 1
Page 2
For the year ending 31 August 2024 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Svetlana Ryabokon
Designated Member
28/08/2025
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Global Networks Management LLP is a limited liability partnership, incorporated in England & Wales, registered number OC423897 . The Registered Office is 419 Richmond Road, Twickenham, Middlesex, TW1 2EX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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.
2.3. Foreign Currencies
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.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 2,399
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 94,582 47,536
Accruals and deferred income 8,500 12,299
103,082 59,835
Page 3