1 January 2021 false Taxfiler 2022.8.3 OC380869business:LimitedLiabilityPartnershipLLP2021-01-012021-12-31 OC3808692020-12-31 OC3808692021-01-012021-12-31 OC380869business:AuditExemptWithAccountantsReport2021-01-012021-12-31 OC380869business:FullAccounts2021-01-012021-12-31 OC3808692021-12-31 OC380869business:PartnerLLP12021-01-012021-12-31 OC380869business:PartnerLLP22021-01-012021-12-31 OC380869business:RegisteredOffice2021-01-012021-12-31 OC3808692020-12-31 OC380869core:WithinOneYear2021-12-31 OC380869core:WithinOneYear2020-12-31 OC380869core:ShareCapital2021-12-31 OC380869core:ShareCapital2020-12-31 OC380869core:RevaluationReserve2021-12-31 OC380869core:RevaluationReserve2020-12-31 OC380869business:SmallEntities2021-01-012021-12-31 OC380869core:LandBuildings2021-01-012021-12-31 OC380869core:PlantMachinery2021-01-012021-12-31 OC380869core:MotorVehicles2021-01-012021-12-31 OC380869countries:EnglandWales2021-01-012021-12-31 OC380869core:LandBuildings2020-12-31 OC380869core:PlantMachinery2020-12-31 OC380869core:MotorVehicles2020-12-31 OC380869core:LandBuildings2021-12-31 OC380869core:PlantMachinery2021-12-31 OC380869core:MotorVehicles2021-12-31 OC3808692020-01-012020-12-31 iso4217:GBP xbrli:pure
Registered No. OC380869 (England and Wales)
Peter Barton LLP Unaudited accounts for the year ended 31 December 2021
Peter Barton LLP LLP Information for the year ended 31 December 2021
Designated members
Mr Peter F Barton
Mrs Ruth E Barton
Registered Number
OC380869 (England and Wales)
Registered Office
Bryn Gardens Rake Road Liss Hampshire GU35 9AR
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
- 2 -
Peter Barton LLP Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,606 
106,908 
Current assets
Debtors
24,637 
11,129 
Cash at bank and in hand
3,208 
5,592 
27,845 
16,721 
Creditors: amounts falling due within one year
(13,033)
(9,214)
Net current assets
14,812 
7,507 
Net assets attributable to members
127,418 
114,415 
Represented by:
Loans and other debts due to members
70,635 
62,482 
Members' other interests
Members' capital classified as equity
20,758 
20,758 
Revaluation reserve
36,025 
31,175 
56,783 
51,933 
127,418 
114,415 
Total members' interests
Loans and other debts due to members
70,635 
62,482 
Members' other interests
56,783 
51,933 
127,418 
114,415 
For the year ending 31 December 2021 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 7 September 2022.
Mr Peter F Barton Designated member Limited Liability Partnership Registration No. OC380869
- 3 -
Peter Barton LLP Notes to the Accounts for the year ended 31 December 2021
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under embers' remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
20% straight line
Motor vehicles
15% reducing balance - Classic Cars not depreciated
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
- 4 -
Peter Barton LLP Notes to the Accounts for the year ended 31 December 2021
Leased assets
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments. All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease. Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
2
Statutory information
Peter Barton LLP is a limited liability partnership, incorporated in England and Wales, registration number OC380869. Its registered office is Bryn Gardens, Rake Road, Liss, Hampshire, GU35 9AR.
3
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At valuation 
At 1 January 2021
40,181 
22,165 
65,775 
128,121 
Additions
448 
- 
1,900 
2,348 
Revaluations
- 
- 
4,850 
4,850 
At 31 December 2021
40,629 
22,165 
72,525 
135,319 
Depreciation
At 1 January 2021
- 
19,820 
1,393 
21,213 
Charge for the year
- 
1,165 
335 
1,500 
At 31 December 2021
- 
20,985 
1,728 
22,713 
Net book value
At 31 December 2021
40,629 
1,180 
70,797 
112,606 
At 31 December 2020
40,181 
2,345 
64,382 
106,908 
4
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
4,392 
3,347 
Taxes and social security costs
6,167 
2,466 
Other creditors
1,299 
2,231 
Accruals
1,175 
1,170 
13,033 
9,214 
- 5 -
Peter Barton LLP Notes to the Accounts for the year ended 31 December 2021
5
Loans and other debts due to members
2021 
2020 
£ 
£ 
Loans from members
70,635 
62,482 
Amounts falling due within one year
70,635 
62,482 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 1 (2020: 0).
- 6 -