Puli Trading LLP Accounts






Puli Trading LLP

	Registered No. OC449587
	Information for Filing with the Registrar
		31 October 2024

at	31 October 2024

Registered No.			OC449587	Notes	2024
					£
Fixed assets
	Intangible assets			4	66,622



					66,622
Current assets



	Cash at bank and in hand				9,128
					9,128

Net current assets					9,128
Total assets less current liabilities					75,750
Creditors: Amounts falling due after more than one year				5	(51,000)

Net assets attributable to members					24,750

Represented by:
	Loans and other debts due to members				94,122
	Members' other interests


		Other reserves			(69,372)
					(69,372)

					24,750



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the period ended 31 October 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) relating to small 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.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 09 September 2025 and signed on its behalf by:
R. Mattinson
Designated member
09 September 2025

for the period ended 31 October 2024

General information

Puli Trading LLP is a limited liability partnership and incorporated in England and Wales.

Its registered number is: OC449587

Its registered office is:

2A The Quadrant

Epsom

Surrey

KT17 4RH

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

Retirement benefits of former members

The retirement benefits of former members are determined annually base on a formula directly linked to the profits of the partnership. Provision is made at the date of retirement of the member for the estimated present value of the expected future payments to that member. On initial recognition the estimated current value of the future pension is transferred from members' interests to provisions for liabilities and charges. The unwinding of the discount of the provision to retirement benefits is charged to the profit and loss account and including in interest payable. The liability is reassessed annually and any changes in the estimates are included within the profit and loss account.

3	Employees
		2024
		Number

	The average number of persons employed during the period was:	2

4	Intangible fixed assets
		Develop-ment costs	Total
		£	£
	Cost

	Additions	66,622	66,622

	At 31 October 2024	66,622	66,622
	Amortisation





	Net book values
	At 31 October 2024	66,622	66,622

5	Creditors:
	amounts falling due after more than one year
			2024
			£

	Other loans		51,000





			51,000

	Liabilities repayable in more than five years after the balance sheet date




		During the year Mattinson Consultancy Ltd, a company under common control, provided a loan totalling £51,000 to Puli Trading LLP. At the year end the loan was fully outstanding, attracted no interest and is payable on demand.

6	Loans and other debts due to members
		2024
		£

	Loans from members	94,122


		94,122

	Amounts falling due within one year	94,122

		94,122

	During the year a member provided a loan totalling £106,622. At the year end the balance was reduced to £94,122. The balance attracted no interest, held no securities and was repayable on demand.