Silver Fox Animation Limited Liability - LLP accounts 22.3

REGISTERED NUMBER: OC329975 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Silver Fox Animation Limited Liability

Partnership

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

GH Ralph

Mrs CM Ralph

REGISTERED OFFICE:

Westfield Studio

Cherry Tree Lane

Heronsgate

Rickmansworth

Hertfordshire

WD3 5DW

REGISTERED NUMBER:

OC329975 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services 2018 Limited

Trading as Lee & Co

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

The members present their report with the financial statements of the LLP for the year ended 31 March 2022.

DESIGNATED MEMBERS

The designated members during the year under review were:

GH Ralph

Mrs CM Ralph

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £2,166 (2021 - £3,075 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

GH Ralph - Designated member

28 November 2022

TURNOVER

1,561

860

Cost of sales

426

175

GROSS PROFIT

1,135

685

Administrative expenses

3,301

3,762

OPERATING LOSS

4

(2,166

)

(3,077

)

Interest receivable and similar income

-

2

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(2,166

)

(3,075

)

CURRENT ASSETS

Debtors

6,962

4,952

Cash at bank and in hand

2,949

4,803

9,911

9,755

CREDITORS

Amounts falling due within one year

7

1,440

1,440

NET CURRENT ASSETS

8,471

8,315

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

8,471

8,315

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

8,471

8,315

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

8,471

8,315

Amounts due from members

(6,962

)

(4,952

)

1,509

3,363

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 28 November 2022 and were signed by:

GH Ralph - Designated member

1.	STATUTORY INFORMATION

Silver Fox Animation Limited Liability Partnership is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments

Debtors

Short terms debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2021 - 1 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.3.22

31.3.21

£

£

Depreciation - owned assets

-

488

5.	INFORMATION IN RELATION TO MEMBERS

31.3.22

31.3.21

The average number of members during the year was

2

2

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

13,572

DEPRECIATION

At 1 April 2021

and 31 March 2022

13,572

NET BOOK VALUE

At 31 March 2022

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other creditors

1,440

1,440

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.