Pod Training and Consultancy LLP
Annual Report and
Unaudited
Financial Statements
Year Ended 31 March 2021
Registration number: OC361008
Pod Training and Consultancy LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Reconciliation of Members’ Interests |
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Notes to the Financial Statements |
Pod Training and Consultancy LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Pod Training and Consultancy LLP
Balance Sheet
31 March 2021
Note |
2021 |
2020 |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
160,013 |
152,334 |
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160,013 |
152,334 |
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Total members' interests |
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Loans and other debts due to members |
160,013 |
152,334 |
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160,013 |
152,334 |
The financial statements of Pod Training and Consultancy LLP (registered number OC361008) were approved by the
.........................................
M S Manton
Designated member
Registration number:
Pod Training and Consultancy LLP
Reconciliation of Members’ Interests
31 March 2021
Loans and other debts due to/(from) members |
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Members' capital classified as a liability |
Total |
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Members' interest at 1 April 2020 |
152,334 |
152,334 |
Profit for the financial year available for discretionary division among members |
7,679 |
7,679 |
Members' interests after profit for the year |
160,013 |
160,013 |
Loans and other debts due to/(from) members |
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Members' capital classified as a liability |
Total |
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Members' interest at 1 April 2019 |
126,778 |
126,778 |
Profit for the financial year available for discretionary division among members |
25,556 |
25,556 |
Members' interests after profit for the year |
152,334 |
152,334 |
Pod Training and Consultancy LLP
Notes to the Financial Statements
Year Ended 31 March 2021
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.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Pod Training and Consultancy LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% straight line basis |
Pod Training and Consultancy LLP
Notes to the Financial Statements (continued)
Year Ended 31 March 2021
1 |
Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Pod Training and Consultancy LLP
Notes to the Financial Statements (continued)
Year Ended 31 March 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
84,986 |
92,434 |
Creditors: Amounts falling due within one year |
2021 |
2020 |
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Trade creditors |
15,422 |
8,151 |
Taxation and social security |
1,166 |
3,956 |
Other creditors |
3,788 |
9,876 |
Accruals and deferred income |
647 |
981 |
21,023 |
22,964 |