MacVenture LLP
MacVenture LLP
Registered number: OC429662
Unaudited Financial Statements
For The Year Ended
31 December 2022
MacVenture LLP
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
MacVenture LLP
Statement of Financial Position
As At
31 December 2022
Statement of Financial Position
Registered number:
OC429662
For the year ending 31 December 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLP's subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (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 LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
| 31 December 2022 | 31 December 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Loans and other debts due to members within one year | |||||
| Members' capital classified as a liability | 46,000 | - | |||
| Other amounts | 76,279 | 45,113 | |||
| 122,279 | 45,113 | ||||
| 122,279 | 45,113 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Loans and other debts due to members within one year | 122,279 | 45,113 | |||
| 122,279 | 45,113 | ||||
Page 1
Page 2
MacVenture LLP
Statement of Financial Position (continued)
As At
31 December 2022
On behalf of the members
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Designated Member
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
MacVenture LLP
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.6.
Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
2.
Average Number of Employees
Average number of employees, including members, during the year was as follows: 7 (2021: 2)
Page 3
Page 4
MacVenture LLP
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
3.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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4.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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5.
Debtors
| 31 December 2022 | 31 December 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 5,945 | 5,017 | |
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Page 4
Page 5
MacVenture LLP
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
6.
Creditors: Amounts Falling Due Within One Year
| 31 December 2022 | 31 December 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 37,876 | 49,675 | |
| Taxation and social security |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 31 December 2022 | 31 December 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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8.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Other | ||
|---|---|---|
| 31 December 2022 | 31 December 2021 | |
| £ | £ | |
| Within 1 year | 4,048 | 4,048 |
| Between 1 and 5 years | 3,711 | 7,759 |
| 7,759 | 11,807 | |
9.
General Information
MacVenture LLP is a limited liability partnership, incorporated in England & Wales, registered number
OC429662
. The Registered Office is Unit 357 Street7, Thorp Arch Estate, Wetherby, West Yorkshire, LS23 7FL.
Page 5