REGISTERED NUMBER:
OC384053
|
Filleted Unaudited Financial Statements |
|
30 April 2025
Current assets
|
Debtors |
4 |
– |
|
839 |
|
Cash at bank and in hand |
1,522 |
|
668 |
|
------- |
|
------- |
|
1,522 |
|
1,507 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
355 |
|
992 |
|
------- |
|
------- |
|
Net current assets |
|
1,167 |
515 |
|
|
------- |
---- |
|
Total assets less current liabilities |
|
1,167 |
515 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
– |
515 |
|
|
------- |
---- |
|
Net assets |
|
1,167 |
– |
|
|
------- |
---- |
|
|
|
|
|
Represented by:
Loans and other debts due to members
|
Other amounts |
7 |
|
1,167 |
– |
|
|
------- |
---- |
|
|
|
|
|
Members' other interests
|
Other reserves |
|
– |
– |
|
|
------- |
---- |
|
|
1,167 |
– |
|
|
------- |
---- |
|
|
|
|
Total members' interests
|
Amounts due from members |
|
– |
(839) |
|
Loans and other debts due to members |
7 |
|
1,167 |
– |
|
Members' other interests |
|
– |
– |
|
|
------- |
---- |
|
|
1,167 |
(839) |
|
|
------- |
---- |
|
|
|
|
|
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 (including profit and loss account) has not been delivered.
For the year ending 30 April 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
.
|
Balance Sheet (continued) |
|
30 April 2025
These financial statements were approved by the
members
and authorised for issue on
3 December 2025
, and are signed on their behalf by:
|
Mrs S L Page |
|
Designated Member |
|
Registered number:
OC384053
|
Notes to the Financial Statements |
|
Year ended 30 April 2025
The LLP is registered in England and Wales. The address of the registered office is 1 Plas Mawr, 4 Ty Mawr Road, Deganwy, Conwy, LL31 9UD.
|
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 2018 (SORP 2018).
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material estimates, judgements or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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 (including profit and loss account) in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the balance sheet.
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 (including profit and loss account) and are equity appropriations in the balance sheet.
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 balance sheet within 'Loans and other debts due to members' and are charged to the statement of comprehensive income (including profit and loss account) within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the balance sheet within 'Members' other interests'.
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. Debt instruments are subsequently measured at amortised cost.
|
2025 |
2024 |
|
£ |
£ |
|
Other debtors |
– |
839 |
|
---- |
---- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
355 |
992 |
|
---- |
---- |
|
|
|
In June 2020 the LLP received a Bounce Back Loan of £4,900, repayable over 6 years at 2.5% interest rate, with repayments commencing June 2021
.
6.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
515 |
|
---- |
---- |
|
|
|
|
7. |
Loans and other debts due to members |
|
|
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed to members in respect of profits |
1,167 |
– |
|
------- |
---- |
|
|
|