REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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FOR |
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BROOKES VENTURES LLP |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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FOR |
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BROOKES VENTURES LLP |
BROOKES VENTURES LLP (REGISTERED NUMBER: OC439343) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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Page |
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General Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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BROOKES VENTURES LLP |
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GENERAL INFORMATION |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Business Advisers and Accountants |
Fifth Floor |
11 Leadenhall Street |
London |
EC3V 1LP |
BROOKES VENTURES LLP (REGISTERED NUMBER: OC439343) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2022 |
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Notes | £ |
CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
100 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
5 |
2,500 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 41,875 |
Other reserves | ( |
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100 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 2,500 |
Members' other interests | (2,400 | ) |
100 |
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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. |
BROOKES VENTURES LLP (REGISTERED NUMBER: OC439343) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2022 |
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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. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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BROOKES VENTURES LLP (REGISTERED NUMBER: OC439343) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Brookes Ventures 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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SIGNIFICANT JUDGEMENTS AND ESTIMATES |
In preparing the financial statements, the members are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
BROOKES VENTURES LLP (REGISTERED NUMBER: OC439343) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
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FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the period was NIL. |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
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5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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At 31 March 2022, Brookes Ventures LLP owed £2,500 to members which are classified as 'loans and other debts due to members' in the balance sheet. No interest has been charged to the LLP in respect of these loans which are repayable on demand. In the event of the LLP being wound up, these liabilities will rank equally with debts due to other unsecured creditors. |
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There were no restrictions on the ability of members to reduce the amount of members' other interests in the balance sheet at 31 March 2022. |