Registered No. OC382844 (England and Wales)
TEMPEST FORENSIC ACCOUNTING UK LLP
Unaudited accounts
for the year ended 31 March 2023
TEMPEST FORENSIC ACCOUNTING UK LLP
LLP Information
for the year ended 31 March 2023
Designated members
Mr R Frost
Registered Number
OC382844 (England and Wales)
Registered Office
Nant Yr Arian
Llandefalle
Brecon
Powys
LD3 0NS
Accountants
Belvedere Chartered Accountants
TEMPEST FORENSIC ACCOUNTING UK LLP
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
242,903
164,892
Creditors: amounts falling due within one year
(44,911)
(32,659)
Net current assets
345,143
323,767
Net assets attributable to members
345,432
324,362
Loans and other debts due to members
345,432
324,362
Loans and other debts due to members
345,432
324,362
For the year ending 31 March 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 20 September 2023.
Mr G L Mesher
Designated member
Limited Liability Partnership Registration No. OC382844
TEMPEST FORENSIC ACCOUNTING UK LLP
Notes to the Accounts
for the year ended 31 March 2023
The financial statements have been prepared under the historical cost convention and in compliance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' issued by the Financial Reporting Council and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued July 2014).
The financial statements are prepared in pound sterling which is the functional currency of the LLP.
Turnover represents fee income chargeable to clients for professional services provided during the period. Turnover is recognised to the extent that the LLP obtains the right to consideration in exchange for its performance. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Profit is allocated to members in accordance with the terms of the LLP agreement. Allocated profit is included within 'loans and other debts due to members' in 'other amounts' as a liability of the LLP. Drawings are treated as payments on account of profit allocation and therefore the year end liability is reflects the deduction of drawings up to the year-end. Unsecured amounts due to members would rank equally with debts due to other unsecured creditors in a winding up of the LLP.
The taxation payable on the LLP's profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of its members. Consequently, neither LLP taxation or related deferred taxation are accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the Statement of Financial Position within loans and other debts due to members, or are set against amounts due from members as appropriate.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on cost
Computer equipment
33% on cost
Trade debtors are recognised initially at the transaction price. They are subsequently measured less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the LLP will not be able to collect all amounts due.
TEMPEST FORENSIC ACCOUNTING UK LLP
Notes to the Accounts
for the year ended 31 March 2023
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors are recognised initially at the transaction price.
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term.
TEMPEST FORENSIC ACCOUNTING UK LLP is a limited liability partnership, incorporated in England and Wales, registration number OC382844. Its registered office is Nant Yr Arian, Llandefalle, Brecon, Powys, LD3 0NS.
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
9,110
7,179
16,289
At 31 March 2023
9,110
7,179
16,289
At 1 April 2022
9,110
6,584
15,694
Charge for the year
-
306
306
At 31 March 2023
9,110
6,890
16,000
At 31 March 2023
-
289
289
At 31 March 2022
-
595
595
4
Creditors: amounts falling due within one year
2023
2022
Trade creditors
11,876
602
Taxes and social security costs
32,285
29,253
TEMPEST FORENSIC ACCOUNTING UK LLP
Notes to the Accounts
for the year ended 31 March 2023
5
Loans and other debts due to members
2023
2022
Members' capital classified as a liability
52,075
49,943
Amounts due to members in respect of profits
293,357
274,419
Amounts falling due within one year
345,432
324,362
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Transactions with related parties
During the year, the LLP made payments for rent and royalties totalling £30,000 (2022: £30,000) to an entity under control of one of the designated partners.
The members are the controlling party by virtue of their controlling interest in the LLP. The ultimate controlling party is the same as the controlling party.
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
