Aspire (Yorkshire) LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC361046

Aspire (Yorkshire) LLP

Filleted Unaudited Financial Statements

31 March 2025

Aspire (Yorkshire) LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		69,697	92,421

Current assets

Debtors	5	84,273	31,478
Cash at bank and in hand		12,308	1,622
		--------	--------
		96,581	33,100

Creditors: amounts falling due within one year	6	140,184		99,427
		---------		--------
Net current liabilities			43,603	66,327
			--------	--------
Total assets less current liabilities			26,094	26,094
			--------	--------
Net assets			26,094	26,094
			--------	--------

Represented by:

Loans and other debts due to members

Other amounts		–	–

Members' other interests

Members' capital classified as equity	26,094	26,094
Other reserves	–	–
	--------	--------
	26,094	26,094
	--------	--------

Total members' interests

Amounts due from members	(50,947)	(29,535)
Loans and other debts due to members	–	–
Members' other interests	26,094	26,094
	--------	--------
	(24,853)	(3,441)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 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 Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Aspire (Yorkshire) LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 15 December 2025 , and are signed on their behalf by:

Mr M Hall

Designated Member

Registered number: OC361046

Aspire (Yorkshire) LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The LLP has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 on the basis that the LLP and its subsidiary undertakings comprise a small group.

Revenue recognition

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue, exclusive of VAT, from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' 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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	25% reducing balance
Equipment	-	25% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4.	Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2024	95,395	2,122	97,517
Additions	–	749	749
	--------	-------	--------
At 31 March 2025	95,395	2,871	98,266
	--------	-------	--------
Depreciation
At 1 April 2024	3,975	1,121	5,096
Charge for the year	22,855	618	23,473
	--------	-------	--------
At 31 March 2025	26,830	1,739	28,569
	--------	-------	--------
Carrying amount
At 31 March 2025	68,565	1,132	69,697
	--------	-------	--------
At 31 March 2024	91,420	1,001	92,421
	--------	-------	--------

5.	Debtors

	2025	2024
	£	£
Other debtors	84,273	31,478
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	225	194
Social security and other taxes	–	713
Other creditors	139,959	98,520
	---------	--------
	140,184	99,427
	---------	--------

7.	Related party transactions

The LLP was under the control of Mr M Hall throughout the year. No transactions with related parties were undertaken such as are required to be disclosed under the FRS102.