0 false false false false false false false false false false false false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2025 - FRS102_2025 27,020 27,020 27,020 xbrli:pure xbrli:shares iso4217:GBP OC414126 2024-01-01 2024-12-31 OC414126 2024-12-31 OC414126 2023-12-31 OC414126 2023-01-01 2023-12-31 OC414126 2023-12-31 OC414126 2022-12-31 OC414126 bus:Director2 2024-01-01 2024-12-31 OC414126 core:LandBuildings 2024-12-31 OC414126 core:LandBuildings 2023-12-31 OC414126 bus:Director1 2024-01-01 2024-12-31 OC414126 bus:SmallEntities 2024-01-01 2024-12-31 OC414126 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 OC414126 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 OC414126 bus:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC414126 bus:FullAccounts 2024-01-01 2024-12-31
REGISTERED NUMBER: OC414126
JACOPAN LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2024
JACOPAN LLP
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
27,020
27,020
---------
---------
Total assets less current liabilities
27,020
27,020
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
5
27,020
27,020
---------
---------
Members' other interests
Other reserves
–
–
---------
---------
27,020
27,020
---------
---------
Total members' interests
Loans and other debts due to members
5
27,020
27,020
Members' other interests
–
–
---------
---------
27,020
27,020
---------
---------
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 December 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 Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
JACOPAN LLP
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the members and authorised for issue on 23 December 2025 , and are signed on their behalf by:
Mr D Jacobs
Designated Member
Registered number: OC414126
JACOPAN LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 168 Church Road, Hove, BN3 2DL.
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.
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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 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. Debt instruments are measured at amortised cost.
4.
Tangible assets
Land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
27,020
---------
Depreciation
At 1 January 2024 and 31 December 2024
–
---------
Carrying amount
At 31 December 2024
27,020
---------
At 31 December 2023
27,020
---------
5.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
27,020
27,020
---------
---------