Limited Liability Partnership registration number OC418271 (England and Wales)
ASPIRE CP LLP
Annual report and unaudited financial statements
For the year ended 31 March 2025
Pages for filing with registrar
ASPIRE CP LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ASPIRE CP LLP
BALANCE SHEET
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
293
439
Current assets
Debtors
4
120,870
117,196
Cash at bank and in hand
234,455
92,184
355,325
209,380
Creditors: amounts falling due within one year
5
(153,472)
(90,403)
Net current assets
201,853
118,977
Total assets less current liabilities and net assets attributable to members
202,146
119,416
Represented by:
Loans and other debts due to members within one year
6
Members' capital classified as a liability
104,533
52,355
Members' other interests
6
Other reserves classified as equity
97,613
67,061
202,146
119,416
Total members' interests
6
Loans and other debts due to members
104,533
52,355
Members' other interests
97,613
67,061
202,146
119,416

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2025 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

ASPIRE CP LLP
BALANCE SHEET (CONTINUED)
As at 31 March 2025
- 2 -
The financial statements were approved by the members and authorised for issue on
3 November 2025
03 November 2025
and are signed on their behalf by:
A C Maher
Designated member
Limited Liability Partnership registration number OC418271 (England and Wales)
ASPIRE CP LLP
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Limited liability partnership information

Aspire CP LLP is a limited liability partnership incorporated in England and Wales. The registered office is 2nd Floor, Runway East, Bloomsbury Way, London, WC1A 2SN.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Profits are divided only after a decision by the LLP or its representative, so the LLP has an unconditional right to refuse payment. Such profits are classed as equity rather than as liabilities. They are therefore shown as a residual amount available for discretionary division among members in arriving at the result for the year and are shown as appropriations of equity when they are allocated.

ASPIRE CP LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

Other amounts applied to members, such as interest on capital balances, are charged to “members remuneration charged as an expense” in the relevant year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation and less any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
33.33% reducing balance per annum
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

ASPIRE CP LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0 (2024 - 0).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
3,373
Depreciation and impairment
At 1 April 2024
2,934
Depreciation charged in the year
146
At 31 March 2025
3,080
Carrying amount
At 31 March 2025
293
At 31 March 2024
439
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
120,140
116,740
Other debtors
730
456
120,870
117,196
ASPIRE CP LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 March 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
110,518
67,316
Taxation and social security
30,575
13,808
Other creditors
12,379
9,279
153,472
90,403
6
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital
Other amounts
Total
Total
2025
£
£
£
£
Members' interests at 1 April 2024
67,061
52,355
-
52,355
119,416
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
-
5,236
5,236
5,236
Profit for the financial year available for discretionary division among members
120,988
-
-
-
120,988
Members' interests after profit and remuneration for the year
188,049
52,355
5,236
57,591
245,640
Allocation of profit for the financial year
(30,436)
-
25,200
25,200
(5,236)
Other divisions of profits
(60,000)
-
60,000
60,000
-
Introduced by members
-
52,178
-
52,178
52,178
Drawings
-
-
(90,436)
(90,436)
(90,436)
Members' interests at 31 March 2025
97,613
104,533
-
104,533
202,146
7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

There are no restrictions or limitations on the ability of members to reduce the amounts of members other interests.

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