ACCOUNTS - Final Accounts

Loans and other debts due to members

POLCRAVE PERFORMANCES LLP - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activitytruefalsefalse2022-04-0100The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC327050 2022-04-01 2023-03-31 OC327050 2021-04-01 2022-03-31 OC327050 2023-03-31 OC327050 2022-03-31 OC327050 c:CurrentFinancialInstruments 2023-03-31 OC327050 c:CurrentFinancialInstruments 2022-03-31 OC327050 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC327050 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC327050 d:FRS102 2022-04-01 2023-03-31 OC327050 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC327050 d:FullAccounts 2022-04-01 2023-03-31 OC327050 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC327050 2 2022-04-01 2023-03-31 OC327050 d:PartnerLLP1 2022-04-01 2023-03-31 OC327050 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC327050 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC327050

POLCRAVE PERFORMANCES LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

POLCRAVE PERFORMANCES LLP

REGISTERED NUMBER: OC327050

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
		£		£


Current assets
Cash at bank and in hand	2	81		1,996
		81		1,996
Creditors: Amounts Falling Due Within One Year	3	(250)		(250)
Net current (liabilities)/assets			(169)		1,746
Total assets less current liabilities			(169)		1,746

Net (liabilities)/assets			(169)		1,746

Represented by:
Loans and other debts due to members within one year
Other amounts	4	(169)	1,746
		(169)	1,746

		(169)	1,746

Total members' interests
Loans and other debts due to members	4	(169)	1,746
		(169)	1,746

Page 1

POLCRAVE PERFORMANCES LLP

REGISTERED NUMBER: OC327050

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 14 December 2023.

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

M P Heard

Designated member

The notes on pages 3 to 5 form part of these financial statements.

Polcrave Performances LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

POLCRAVE PERFORMANCES LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

1.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the members and shareholders for financial support, which the members are confident will continue for a period of at least another 12 months following the approval of these financial
statements.
As at 31 March 2023, the company had net liabilities of £169. The directors and shareholders provide adequate finance to enable the company to continue in operational existence, and on this basis the members consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the members and shareholders.

1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

1.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

Page 3

POLCRAVE PERFORMANCES LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies (continued)

1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	81	1,996
	81	1,996

3.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Accruals and deferred income	250	250
	250	250

Page 4

POLCRAVE PERFORMANCES LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023


Other amounts due to members	169	(1,746)
	169	(1,746)

Loans and other debts due to members may be further analysed as follows:

					2023	2022
					£	£


Falling due within one year	169	(1,746)
	(169)	1,746

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 5