REGISTERED NUMBER:
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Report of the Members and |
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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Lightblue Online LLP |
REGISTERED NUMBER:
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Report of the Members and |
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Lightblue Online LLP |
Lightblue Online LLP (Registered number: OC355038) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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General Information | 1 |
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Report of the Members | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Lightblue Online LLP |
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General Information |
for the Year Ended 31 March 2022 |
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DESIGNATED MEMBERS: |
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D C O'Connor |
Lucas Alexander Financial Solutions Ltd |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Lakeview House |
4 Woodbrook Crescent |
Billericay |
Essex |
CM12 0EQ |
Lightblue Online LLP (Registered number: OC355038) |
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Report of the Members |
for the Year Ended 31 March 2022 |
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The members present their report with the financial statements of the LLP for the year ended 31 March 2022. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of independent financial advisors. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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D C O'Connor |
Lucas Alexander Financial Solutions Ltd |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £144,716 (2021 - £90,717 profit). |
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MEMBERS' INTERESTS |
The members' policy on drawings is dependent upon the working capital requirements of the firm. A conservative level of monthly drawings is set at the start of the year and further distributions are made once the results for the year and allocation of profit have been finalised. |
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The level of members' capital is determined by the members from time to time. Capital is repaid to members on resignation from the firm or at such other time as is determined by the Management Board. |
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ON BEHALF OF THE MEMBERS: |
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Lightblue Online LLP (Registered number: OC355038) |
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Income Statement |
for the Year Ended 31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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139,178 | (20,852 | ) |
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Other operating income |
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Gain/loss on revaluation of investments | 6,319 | 65,290 |
OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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Lightblue Online LLP (Registered number: OC355038) |
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Balance Sheet |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
515,354 |
476,716 |
Lightblue Online LLP (Registered number: OC355038) |
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Balance Sheet - continued |
31 March 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
CREDITORS |
Amounts falling due after more than one
year |
10 |
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PROVISIONS FOR LIABILITIES |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
11 |
137,892 |
71,219 |
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MEMBERS' OTHER INTERESTS |
Fair value reserve | 12 |
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515,354 | 476,716 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 137,892 | 71,219 |
Members' other interests | 71,609 | 65,290 |
Amounts due from members | 8 | (34,469 | ) | (61,667 | ) |
175,032 | 74,842 |
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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. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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Lightblue Online LLP (Registered number: OC355038) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Lightblue Online LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover from provision of financial advice is recognised by reference to the stage of completion at the balance sheet date. Stage os completion is measured by reference to when the LLP has delivered service to the customer, the customer has accepted the service and collectability of the related receivable is reasonably assured. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Taxation |
Members are personally liable for taxation on their share of the profits of the limited liability partnership. |
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The profits are shown within 'Members' interests' or as 'Loans and other debts due to members' without any deduction for tax. |
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Deferred taxation |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Provisions |
Provisions are recognised when the LLP has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
Lightblue Online LLP (Registered number: OC355038) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31.3.22 | 31.3.21 |
£ | £ |
Depreciation - owned assets |
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Development costs amortisation |
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 April 2021 |
and 31 March 2022 |
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AMORTISATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Lightblue Online LLP (Registered number: OC355038) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
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Additions |
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Disposals |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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7. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 April 2021 |
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Revaluations |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Cost or valuation at 31 March 2022 is represented by: |
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Other |
investments |
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Valuation in 2022 | 6,319 |
Cost | 315,290 |
321,609 |
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Fixed Asset Investments comprise of a portfolio of listed investments, a share of which is held for the beneficial interest of the LLP. At 31 March 2022, the market value of the portfolio was £514,574, with the LLP's share of 62.5% valued at £321,609. |
Lightblue Online LLP (Registered number: OC355038) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans and overdrafts |
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Payments on account |
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Trade creditors |
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Other creditors |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
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11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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In the event of winding up, loans and other debts due to members and members' other interests rank subordinate to other unsecured creditors. |
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12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2021 |
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Fair value transfer | 6,319 |
At 31 March 2022 |
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