YooGen 1 LLP Filleted accounts for Companies House (small and micro)

0 false false false false false false false false false false false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2,100 460 315 775 1,325 1,640 1,342,052 322,190 7,614 1,656,628 1,656,628 1,342,052 xbrli:pure xbrli:shares iso4217:GBP OC378795 2022-04-01 2023-03-31 OC378795 2023-03-31 OC378795 2022-03-31 OC378795 2021-04-01 2022-03-31 OC378795 2022-03-31 OC378795 core:PlantMachinery 2022-04-01 2023-03-31 OC378795 bus:Director1 2022-04-01 2023-03-31 OC378795 core:WithinOneYear 2023-03-31 OC378795 core:WithinOneYear 2022-03-31 OC378795 core:PlantMachinery 2022-03-31 OC378795 core:PlantMachinery 2023-03-31 OC378795 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 OC378795 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 OC378795 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-03-31 OC378795 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 OC378795 core:Non-currentFinancialInstruments 2023-03-31 OC378795 core:Non-currentFinancialInstruments 2022-03-31 OC378795 core:PlantMachinery 2022-03-31 OC378795 bus:SmallEntities 2022-04-01 2023-03-31 OC378795 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC378795 bus:FullAccounts 2022-04-01 2023-03-31 OC378795 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC378795 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel1 2022-04-01 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel1 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel1 2022-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel2 2022-04-01 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel2 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel2 2022-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel3 2022-04-01 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel3 2023-03-31 OC378795 core:EntityControlledByKeyManagementPersonnel3 2022-03-31

REGISTERED NUMBER: OC378795

YooGen 1 LLP

Filleted Unaudited Accounts

31 March 2023

YooGen 1 LLP

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	1,325	1,640
Investments	6	1,656,628	1,342,052
		------------	------------
		1,657,953	1,343,692

Current assets

Debtors	7	695,060	1,381,948
Cash at bank and in hand		719,905	261,211
		------------	------------
		1,414,965	1,643,159

Creditors: amounts falling due within one year	8	( 1,079,170)	( 1,829,393)
		------------	------------
Net current assets/(liabilities)		335,795	( 186,234)
		------------	------------
Total assets less current liabilities		1,993,748	1,157,458
		------------	------------
Net assets		1,993,748	1,157,458
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	9	1,993,748	1,157,458
		------------	------------

Members' other interests

Other reserves	–	–
	------------	------------
	1,993,748	1,157,458
	------------	------------

Total members' interests

Amounts due from members		(95,133)	(2,314)
Loans and other debts due to members	9	1,993,748	1,157,458
Members' other interests		–	–
		------------	------------
		1,898,615	1,155,144
		------------	------------

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the 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) relating to small LLPs.

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 .

YooGen 1 LLP

Statement of Financial Position (continued)

31 March 2023

These accounts were approved by the members and authorised for issue on 26 January 2024 , and are signed on their behalf by:

J Hitchcox

Designated Member

Registered number: OC378795

YooGen 1 LLP

Notes to the Accounts

Year ended 31 March 2023

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 2 Bentinck Street, London, W1U 2FA.

2.	Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Preparation of consolidated financial statements

The financial statements contain information about YooGen 1 LLP as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

In the Directors opinion based on current budgets, positive cash balances and its working capital requirements, the company has sufficient funds to meet its liabilities for at least twelve months from approval of these accounts. The company will also continue to rely on on-going support from its ultimate controlling party.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	15% straight line

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Employees

The average number of employees in the year was nil (2022: nil).

5.	Tangible assets

	Plant and machinery
	£
Cost
At 1 April 2022 and 31 March 2023	2,100
	-------
Depreciation
At 1 April 2022	460
Charge for the year	315
	-------
At 31 March 2023	775
	-------
Carrying amount
At 31 March 2023	1,325
	-------
At 31 March 2022	1,640
	-------

6.	Investments

	Shares in group undertakings
	£
Cost
At 1 April 2022	1,342,052
Additions	322,190
Disposals	( 7,614)
	------------
At 31 March 2023	1,656,628
	------------
Impairment
At 1 April 2022 and 31 March 2023	–
	------------

Carrying amount
At 31 March 2023	1,656,628
	------------
At 31 March 2022	1,342,052
	------------

7.	Debtors

	2023	2022
	£	£
Trade debtors	20,929	–
Amounts due from members	95,133	2,314
Other debtors	578,998	1,379,634
	---------	------------
	695,060	1,381,948
	---------	------------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	49,717	2,435
Accruals and deferred income	145,844	74,743
Other creditors	883,609	1,752,215
	------------	------------
	1,079,170	1,829,393
	------------	------------

9.	Loans and other debts due to members

	2023	2022
	£	£
Amounts owed to members in respect of profits	1,993,748	1,157,458
	------------	------------

10.	Related party transactions

In accordance with FRS102 Section 1A the entity has not disclosed transactions between wholly owned entities. As at the year-end, a balance of £ 883,610 (2022: £ 1,312,571 ) was owed to Yoo Capital Limited , a company under common control. As at the year-end, a balance of £ 98,829 (2022: £ 98,829 ) was owed from Fleetwood WTE Limited , a company under common control. As at the year-end, a balance of £ 31,545 (2022: £ 9,608 ) was owed from Headline Solar Limited , a company under common control.