Beltane Asset Management LLP - Filleted accounts

Registered number

OC345876

Beltane Asset Management LLP

Filleted Accounts

31 March 2025

Beltane Asset Management LLP
Registered number:		OC345876
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	70,435		81,335
Current assets
Debtors	4	874,645		506,959
Cash at bank and in hand		486,768		789,677
		1,361,413		1,296,636

Creditors: amounts falling due within one year	5	(897,813)		(700,233)

Net current assets		463,600		596,403

Total assets less current liabilities		534,035		677,738

Creditors: amounts falling due after more than one year	6	(75,927)		(87,547)


Net assets attributable to members		458,108		590,191

Represented by:
Loans and other debts due to members	7	458,108		590,191


		458,108		590,191

Total members' interests
Loans and other debts due to members	7	458,108		590,191

		458,108		590,191

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 23 December 2025 and signed on their behalf by:


D B Roe
Designated member

Beltane Asset Management LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Motor vehicles	25% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the LLP			4		4


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	56,753		193,239		249,992
	Additions	12,581		-		12,581
	At 31 March 2025	69,334		193,239		262,573

	Depreciation
	At 1 April 2024	36,559		132,098		168,657
	Charge for the year	8,195		15,286		23,481
	At 31 March 2025	44,754		147,384		192,138

	Net book value
	At 31 March 2025	24,580		45,855		70,435
	At 31 March 2024	20,194		61,141		81,335


4	Debtors			2025		2024
£					£

	Trade debtors			7,800		22,500
	Other debtors			866,845		484,459
				874,645		506,959


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			11,619		11,619
	Trade creditors			55,368		65,489
	Other taxes and social security costs			80,050		73,037
	Other creditors			750,776		550,088
				897,813		700,233


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Obligations under finance lease and hire purchase contracts			75,927		87,547


7	Loans and other debts due to members			2025		2024
£					£

	Amounts due to members in respect of profits			458,108		590,191

	Amounts falling due within one year			458,108		590,191

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


8	Related party transactions

	During the year the LLP continued to make loans on an interest free basis to entitites under the control of the partners. The loans are repayable on demand. At the year end the LLP was owed £724,318 (2024: £389,225).


9	Other information

	Beltane Asset Management LLP is a limited liability partnership incorporated in England. Its registered office is:
	Kempston
	Mill Hill
	Edenbridge
	Kent
	TN8 5DQ