OHLALA LONDON LLP - Accounts

OHLALA LONDON LLP - Accounts

OHLALA LONDON LLP - Company Information

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Registered Number: OC428478
England and Wales

 

 

 

OHLALA LONDON LLP


Abridged Accounts
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

OHLALA LONDON LLP
Contents Page
For the year ended 31 December 2022
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 11,051    11,145 
11,051    11,145 
Current assets      
Debtors 41,507    0 
Cash at bank and in hand 134,149    77,662 
175,656    77,662 
Creditors: amount falling due within one year (54,301)   (929)
Net current assets 121,355    76,733 
 
Total assets less current liabilities 132,406    87,878 
Creditors: amount falling due after more than one year (31,037)   (52,333)
Provisions for liabilities (1,075)   0 
Net assets 100,294    35,545 
 

Represented by:
Members' other interest
Other reserves 105,501    43,313 
105,501    43,313 

105,501    43,313 
 

Total members' interests
Members' other interests 105,501    43,313 
105,501    43,313 
 


For the year ending 31 December 2022 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 LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006.


The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs).

These accounts were approved by the members and signed on their behalf by:


.............................................................................

Designated Member
Date approved by the members: 30 October 2023
1
General Information
OHLALA LONDON LLP is a limited liability partnership, registered in England and Wales, registration number OC428478, registration address 77 Atlantic Road, London, SW9 8PU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.

Financial instruments
The limited liability partnership 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.
Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are 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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A mounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20 Reducing Balance
Plant and Machinery 10 Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2021 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 January 2022 1,452    16,047    17,499 
Additions 2,373    -    2,373 
Disposals -    -    - 
At 31 December 2022 3,825    16,047    19,872 
Depreciation
At 01 January 2022 145    6,209    6,354 
Charge for year 499    1,968    2,467 
On disposals -    -    - 
At 31 December 2022 644    8,177    8,821 
Net book values
Closing balance as at 31 December 2022 3,181    7,870    11,051 
Opening balance as at 01 January 2022 1,307    9,838    11,145 


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