Company No: OC402781 (England and Wales)

Contents

• Limited Liability Partnership Information
• Balance Sheet
• Notes to the Financial Statements

DESIGNATED MEMBERS	Daniel James Lee
	Emma Jenn Lee

REGISTERED OFFICE	C/O Praxis
	1 Poultry
	London
	EC2R 8EJ
	England
	United Kingdom

REGISTERED NUMBER

OC402781 (England and Wales)

CHARTERED ACCOUNTANTS	Praxis
	1 Poultry
	London
	EC2R 8EJ
	United Kingdom

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	4	3,144		9,589
		3,144		9,589
Current assets
Debtors	5	5,204		8,250
Cash at bank and in hand	6	7,046		13,926
		12,250		22,176
Creditors: amounts falling due within one year	7	( 8,772)		( 7,082)
Net current assets		3,478		15,094
Total assets less current liabilities		6,622		24,683
Net assets attributable to members		6,622		24,683
Represented by
Loans and other debts due to members within one year
Other amounts		26,741		19,324
		26,741		19,324
Members' other interests
Other reserves		(20,119)		5,359
		(20,119)		5,359
		6,622		24,683
Total members' interests
Loans and other debts due to members		26,741		19,324
Members' other interests		(20,119)		5,359
		6,622		24,683

For the financial year ending 31 March 2023 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to Limited Liability Partnerships subject to the small Limited Liability Partnerships regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Forest House LLP (registered number: OC402781) were approved and authorised for issue by the Board of Directors on 11 December 2023. They were signed on its behalf by:

Daniel James Lee Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Forest House LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	5 years straight line
Plant and machinery etc.	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	2023		2022
	Number		Number
Average number of members during the financial year	2		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2022	31,448		1,279		32,727
At 31 March 2023	31,448		1,279		32,727
Accumulated depreciation
At 01 April 2022	22,014		1,124		23,138
Charge for the financial year	6,290		155		6,445
At 31 March 2023	28,304		1,279		29,583
Net book value
At 31 March 2023	3,144		0		3,144
At 31 March 2022	9,434		155		9,589

5. Debtors

	2023		2022
	£		£
Trade debtors	5,159		8,250
Other debtors	45		0
	5,204		8,250

6. Cash and cash equivalents

	2023		2022
	£		£
Cash at bank and in hand	7,046		13,926

7. Creditors: amounts falling due within one year

	2023		2022
	£		£
Trade creditors	0		45
Other taxation and social security	5,823		5,287
Other creditors	2,949		1,750
	8,772		7,082

8. Financial commitments

The LLP had no material commitments at the year ended 31 March 2023.

9. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the LLP since the financial year.