Registered number: OC368327
Unaudited financial statements
for the year ended 31 December 2024
for
The Commercial Edge Initiative Llp
Pages for filing with the Registrar
Registered number: OC368327
The Commercial Edge Initiative Llp
Balance sheet
as at 31 December 2024
2024 2023
£ £ £ £
Current assets
Debtors 15,504 16,044
Cash at bank and in hand 57 44
15,561 16,088
Creditors: amounts falling due within one
year 		(37,330) (37,344)
Net current liabilities (21,769) (21,256)
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS 		(21,769) (21,256)
Represented by:
Loans and other debts due to members
Members' capital classified as a liability (21,769) (21,256)
(21,769) (21,256)
Members' total interests
Loans and other debts due to members (21,769) (21,256)
(21,769) (21,256)
The LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs for the year ended 31 December 2024.
The members acknowledge their responsibilities to comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 in respect to accounting records and the preparation of financial statements.
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Registered number: OC368327
The Commercial Edge Initiative Llp
Balance sheet - continued
as at 31 December 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the members and authorised for issue on 29 September 2025 and signed on their behalf by:
Mr A Todd, Designated Member
29 September 2025
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The Commercial Edge Initiative Llp
Notes to the financial statements
for the year ended 31 December 2024
1 General information
The Commercial Edge Initiative Llp is a limited liability partnership registered in England and Wales. Its registered number is OC368327. Its registered office is 1 Green Gardens, Ullesthorpe, Lutterworth, Leicestershire, LE17 5BJ.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships and the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the members have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the LLP's ability to continue as a going concern. In making this assessment, the members take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The members consider that the LLP has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Members' transactions with the LLP
Members' remuneration and profit shares are treated as appropriations of profit and recorded within members' interests, not as expenses. Members' capital contributions are shown as equity. Current accounts record profit allocations, drawings, and other amounts due to or from members. Amounts payable to members that are repayable other than on winding up are shown as liabilities, with related interest charged as a finance cost. The LLP itself is not subject to corporation tax; taxation on profits is the personal responsibility of members.
3 Average number of employees
During the year the average number of employees was 2 (2023 - 2).
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