Company No:
Contents
Note | 31.03.2023 | 31.03.2022 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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72,975 | 56,308 | |||
Current assets | ||||
Debtors | 4 |
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8,333 | 0 | |||
Net current assets | 8,333 | 0 | ||
Total assets less current liabilities | 81,308 | 56,308 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Other amounts | 81,308 | 56,308 | ||
81,308 | 56,308 | |||
Members' other interests | ||||
0 | 0 | |||
81,308 | 56,308 | |||
Total members' interests | ||||
Loans and other debts due to members | 6 | 81,308 | 56,308 | |
81,308 | 56,308 |
Frilmi Investments LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
Members' responsibilities:
The financial statements of Frilmi Investments LLP (registered number:
D Freedman
Designated member |
M D Hilmi
Designated member |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |
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Other amounts | Total | |
£ | £ | |
Balance at 24 November 2020 | 0 | 0 |
Drawings | (64,386) | (64,386) |
Amounts introduced by members | 120,694 | 120,694 |
Amounts due to members | 56,308 | |
Balance at 31 March 2022 | 56,308 | 56,308 |
Members' interest after result for the financial year/period | 56,308 | 56,308 |
Amounts introduced by members | 25,000 | 25,000 |
Amounts due to members | 81,308 | |
Balance at 31 March 2023 | 81,308 | 81,308 |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Frilmi Investments LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 101 Wigmore Street, London, W1U 1QU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of Comprehensive Income.
Investments in unlisted entity shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Year ended 31.03.2023 |
Period from 24.11.2020 to 31.03.2022 |
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Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 April 2022 |
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Additions |
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At 31 March 2023 |
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Provisions for impairment | |||
At 01 April 2022 |
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At 31 March 2023 |
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Carrying value at 31 March 2023 |
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Carrying value at 31 March 2022 |
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31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Other debtors |
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The designated members of the LLP are considered to be key management responsible for planning, directing and controlling the activities of the LLP. Transactions with these individuals and balances at the period-end are shown in the Reconciliation of Members Interests.
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Other amounts due to members | 81,308 | 56,308 |
Loans and other debts due to members may be further analysed as follows:
31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Falling due within one year | 81,308 | 56,308 |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
The amount of capital each member is required to subscribe is determined, from time to time, by the designated members of the LLP and under the Members' Agreement, capital is repayable on retirement. Liabilities to former members are shown within other creditors.