REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Founders Forum LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Founders Forum LLP |
Founders Forum LLP (Registered number: OC371019) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Founders Forum LLP (Registered number: OC371019) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
6,250,748 |
6,307,113 |
Founders Forum LLP (Registered number: OC371019) |
Balance Sheet - continued |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
3,420,568 |
3,476,933 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,045,525 | 1,045,525 |
Fair value reserve | 10 |
6,250,748 | 6,307,113 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 3,420,568 | 3,476,933 |
Members' other interests | 2,830,180 | 2,830,180 |
Amounts due from members | 6 | (36,606 | ) | (21,309 | ) |
6,214,142 | 6,285,804 |
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 Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Founders Forum LLP (Registered number: OC371019) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Founders Forum LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. |
Turnover |
Turnover relates to rental and sponsorship income excluding discounts, rebates and value added tax with adjustments made for accrued and deferred income. |
Tangible fixed assets |
Plant and machinery etc | - |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
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. |
Investments |
Fixed asset investments are stated at fair value, with changes in fair value recognised in other comprehensive income. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
Founders Forum LLP (Registered number: OC371019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2022 |
Additions |
Transfer to ownership | (30,448 | ) |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 January 2022 |
Additions |
Disposals | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Cost or valuation at 31 December 2022 is represented by: |
Other |
investments |
£ |
Cost | 2,326,616 |
Founders Forum LLP (Registered number: OC371019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | FIXED ASSET INVESTMENTS - continued |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 2,326,616 | 158,311 |
Fixed asset investments were valued on fair value basis on 31 December 2022 by the designated members . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by related parties |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to related parties |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2022 | 2021 |
£ | £ |
Amounts owed to members in respect of profits | 3,420,568 | 3,476,933 |
Falling due within one year | 3,420,568 | 3,476,933 |
In the event of a winding up, loans and other debts due to the members will rank behind amounts due to other creditors. |
Founders Forum LLP (Registered number: OC371019) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2022 |
and 31 December 2022 |
11. | OTHER FINANCIAL COMMITMENTS |
The total financial commitment relating to non-cancellable leases amounted to £7,050,642. |
12. | MATERIAL EVENT |
On 14 October 2022 the trading assets and liabilities of Founders Forum LLP were acquired by Founders Forum Events LLP for a consideration of £1. |