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
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
Peter Barton LLP
Statement of financial position
as at 31 December 2021
Tangible assets
112,606
106,908
Cash at bank and in hand
3,208
5,592
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
Loans and other debts due to members
70,635
62,482
Members' capital classified as equity
20,758
20,758
Revaluation reserve
36,025
31,175
Loans and other debts due to members
70,635
62,482
Members' other interests
56,783
51,933
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
Peter Barton LLP
Notes to the Accounts
for the year ended 31 December 2021
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.
The accounts are presented in £ sterling.
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.
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 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 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 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.
Peter Barton LLP
Notes to the Accounts
for the year ended 31 December 2021
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.
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.
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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
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
At 31 December 2021
40,629
1,180
70,797
112,606
At 31 December 2020
40,181
2,345
64,382
106,908
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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
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.
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Average number of employees
During the year the average number of employees was 1 (2020: 0).