Registration number:
Prepared for the registrar
Avenbury Ventures LLP
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2021
Avenbury Ventures LLP
(Registration number: OC374058)
Balance Sheet as at 31 December 2021
Note |
2021 |
2020 |
|
Current assets |
|||
Debtors |
|
|
|
Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities attributable to members |
( |
( |
|
Represented by: |
|||
Loans and other debts due from members |
|||
Amounts owing in respect of losses |
(216,027) |
(214,822) |
|
Other amounts |
153,348 |
153,322 |
|
(62,679) |
(61,500) |
||
Members’ other interests |
|||
Members' capital classified as equity |
2 |
2 |
|
(62,677) |
(61,498) |
||
Total members' interests |
|||
Loans and other debts due to members |
(62,679) |
(61,500) |
|
Equity |
|
|
|
(62,677) |
(61,498) |
For the year ending 31 December 2021 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to LLPs, relating to small entities.
These financial statements have been prepared in accordance with the special provisions relating to LLPs subject to the small LLPs regime within Part 15 of the Companies Act 2006, as applied to LLPs.
These financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime, as applied to LLPs, and the option not to file the Profit and Loss Account has been taken.
The members acknowledge their responsibilities for complying 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 with respect to accounting records and the preparation of accounts.
The financial statements of Avenbury Ventures LLP (registered number OC374058) were approved by the
J Knight-Adams
on behalf of
Alpha (Avenbury) Limited
Designated member
Avenbury Ventures LLP
Notes to the Financial Statements for the Year Ended 31 December 2021
General information |
The place of registration of the LLP is England and Wales under the Limited Liability Partnership Act 2000.
The address of the registered office is:
The Stables Ballards Drive
Upper Colwall
Malvern
Worcestershire
WR13 6PP
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The presentational currency of the financial statements is pounds sterling, being the functional currency of the primary economic environment in which the LLP operates. Monetary amounts in these financial statements are rounded to the nearest pound.
Going concern
After reviewing the LLP's current forecasts and projections, together with the facilities available to the LLP, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.
Members' remuneration and division of profits
The profits and losses of the LLP are automatically divided among the members in accordance with the agreed profit share arrangements.
A member's share of the profit or loss for the year is accounted for as an allocation of profits/losses.
Taxation
The taxation payable on the LLP's profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of its members. Consequently, neither LLP taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Avenbury Ventures LLP
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
2 |
Accounting policies (continued) |
Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the LLP is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and Measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Particulars of employees |
The average number of persons employed by the LLP during the year was
Creditors: Amounts falling due within one year |
2021 |
2020 |
|
Trade creditors |
1,320 |
- |
Other creditors |
61,000 |
61,000 |
Accruals and deferred income |
950 |
950 |
63,270 |
61,950 |
Debtors |
2021 |
2020 |
|
Other debtors |
|
|