Deep LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC309195 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

DEEP LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

G Bowden

Mrs C Eiles

REGISTERED OFFICE:

Studio 419

Metal Box Factory

30 Great Guildford Street

London

SE1 0HS

REGISTERED NUMBER:

OC309195 (England and Wales)

ACCOUNTANTS:

COLIN GRAY & CO LIMITED

Chartered Accountants

Hardy House

Northbridge Road

Berkhamsted

Hertfordshire

HP4 1EF

FIXED ASSETS

Tangible assets

4

69,098

38,805

CURRENT ASSETS

Debtors

5

169,513

124,146

Cash at bank and in hand

306,416

296,046

475,929

420,192

CREDITORS

Amounts falling due within one year

6

175,119

137,740

NET CURRENT ASSETS

300,810

282,452

TOTAL ASSETS LESS CURRENT LIABILITIES

369,908

321,257

CREDITORS

Amounts falling due after more than one year

7

70,311

65,903

NET ASSETS ATTRIBUTABLE TO MEMBERS

299,597

255,354

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

299,597

255,354

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

299,597

255,354

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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.

The financial statements were approved by the members of the LLP and authorised for issue on 19 January 2023 and were signed by:

G Bowden - Designated member

1.	STATUTORY INFORMATION

Deep LLP 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 comprises revenue recognised by the LLP in respect of goods and services supplied during the year, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Government grants

Grants relating to revenue are recognised as income in the period in which the related costs are incurred for which the grant is intended to compensate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2021 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

101,186

Additions

60,540

Disposals

(39,973

)

At 31 March 2022

121,753

DEPRECIATION

At 1 April 2021

62,381

Charge for year

10,863

Eliminated on disposal

(20,589

)

At 31 March 2022

52,655

NET BOOK VALUE

At 31 March 2022

69,098

At 31 March 2021

38,805

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

163,205

124,146

Other debtors

6,308

-

169,513

124,146

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

4,167

Hire purchase contracts

2,618

3,183

Trade creditors

25,032

5,258

Taxation and social security

73,800

69,899

Other creditors

63,669

55,233

175,119

137,740

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

35,833

45,833

Hire purchase contracts

34,478

20,070

70,311

65,903

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

37,096

23,253

9.

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.