Registered number
OC435539
B & E White LLP
Filleted Accounts
28 February 2023
Rivermoor Accounting Limited
Accountants
Orchard's End
Kelsey Road
Moortown
Lincolnshire
LN7 6JB
B & E White LLP
Registered number: OC435539
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 12,510 13,485
Current assets
Cash at bank and in hand 8,025 14,314
Creditors: amounts falling due within one year 4 (3,549) (612)
Net current assets 4,476 13,702
Total assets less current liabilities 16,986 27,187
Net assets attributable to members 16,986 27,187
Represented by:
Loans and other debts due to members 5 2,261 15,080
Members' other interests
Other reserves 14,725 12,107
16,986 27,187
Total members' interests
Loans and other debts due to members 5 2,261 15,080
Members' other interests 14,725 12,107
16,986 27,187
For the year ended 28 February 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 16 October 2023 and signed on their behalf by:
Mr B White
Designated member
B & E White LLP
Notes to the Accounts
for the year ended 28 February 2023
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 Members’ 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fittings and equipment 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 14 14
3 Tangible fixed assets
Fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2022 4,856 12,800 17,656
Additions 2,752 - 2,752
At 28 February 2023 7,608 12,800 20,408
Depreciation
At 1 March 2022 971 3,200 4,171
Charge for the year 1,327 2,400 3,727
At 28 February 2023 2,298 5,600 7,898
Net book value
At 28 February 2023 5,310 7,200 12,510
At 28 February 2022 3,885 9,600 13,485
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 600 600
Other taxes and social security costs 2,949 12
3,549 612
5 Loans and other debts due to members 2023 2022
£ £
Loans from members 1,080 17,375
Amounts due to members in respect of profits 1,181 (2,295)
2,261 15,080
Amounts falling due within one year 2,261 15,080
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
B & E White LLP is a limited liability partnership incorporated in England. Its registered office is:
9 South Street
Caistor
Lincolnshire
LN7 6UB
B & E White LLP OC435539 false 2022-03-01 2023-02-28 2023-02-28 VT Final Accounts October 2023 Mr B White No description of principal activity OC435539 2021-10-07 2022-02-28 OC435539 core:WithinOneYear 2022-02-28 OC435539 1 2022-02-28 OC435539 core:RetainedEarningsAccumulatedLosses 2022-02-28 OC435539 2022-03-01 2023-02-28 OC435539 bus:LimitedLiabilityPartnershipLLP 2022-03-01 2023-02-28 OC435539 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 OC435539 bus:PartnerLLP20 2022-03-01 2023-02-28 OC435539 3 2022-03-01 2023-02-28 OC435539 1 2022-03-01 2023-02-28 OC435539 2 2022-03-01 2023-02-28 OC435539 4 2022-03-01 2023-02-28 OC435539 core:PlantMachinery 2022-03-01 2023-02-28 OC435539 core:Vehicles 2022-03-01 2023-02-28 OC435539 countries:England 2022-03-01 2023-02-28 OC435539 bus:FRS102 2022-03-01 2023-02-28 OC435539 bus:FullAccounts 2022-03-01 2023-02-28 OC435539 2023-02-28 OC435539 core:WithinOneYear 2023-02-28 OC435539 1 2023-02-28 OC435539 core:RetainedEarningsAccumulatedLosses 2023-02-28 OC435539 core:PlantMachinery 2023-02-28 OC435539 core:Vehicles 2023-02-28 OC435539 2022-02-28 OC435539 core:PlantMachinery 2022-02-28 OC435539 core:Vehicles 2022-02-28 iso4217:GBP xbrli:pure