REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1st March 2022 to 31st March 2023 |
for |
Quantum Group Renewables LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1st March 2022 to 31st March 2023 |
for |
Quantum Group Renewables LLP |
Quantum Group Renewables LLP (Registered number: OC329373) |
Contents of the Financial Statements |
for the Period 1st March 2022 to 31st March 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Quantum Group Renewables LLP (Registered number: OC329373) |
Abridged Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
120,791 |
83,117 |
Quantum Group Renewables LLP (Registered number: OC329373) |
Abridged Balance Sheet - continued |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' CAPITAL ACCOUNTS |
Capital accounts | 120,791 | 83,117 |
120,791 | 83,117 |
TOTAL MEMBERS' INTERESTS |
Members' capital accounts | 120,791 | 83,117 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Quantum Group Renewables LLP (Registered number: OC329373) |
Notes to the Financial Statements |
for the Period 1st March 2022 to 31st March 2023 |
1. | STATUTORY INFORMATION |
Quantum Group Renewables LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Quantum Group Renewables LLP (Registered number: OC329373) |
Notes to the Financial Statements - continued |
for the Period 1st March 2022 to 31st March 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
Quantum Group Renewables LLP (Registered number: OC329373) |
Notes to the Financial Statements - continued |
for the Period 1st March 2022 to 31st March 2023 |
4. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st March 2022 |
Additions |
At 31st March 2023 |
DEPRECIATION |
At 1st March 2022 |
Charge for period |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 28th February 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Totals |
£ |
COST |
At 1st March 2022 |
and 31st March 2023 | 53,355 |
DEPRECIATION |
At 1st March 2022 | 49,499 |
Charge for period | 1,045 |
At 31st March 2023 | 50,544 |
NET BOOK VALUE |
At 31st March 2023 | 2,811 |
At 28th February 2022 | 3,856 |
6. | FIXED ASSET INVESTMENTS |
The amount included as fixed asset investment represents the LLP's capital account outstanding as at the balance sheet date in Quantum Cooling Dispense and Refrigeration Services LLP. |
Quantum Group Renewables LLP (Registered number: OC329373) |
Notes to the Financial Statements - continued |
for the Period 1st March 2022 to 31st March 2023 |
7. | ULTIMATE CONTROLLING PARTY |
During the year, the ultimate controlling party was Mr C Gonella and Mrs M R Gonella by virtue of having control of the designated members. |