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REGISTERED NUMBER: OC334494 (England and Wales)














Report of the Members and

Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Olivers Mill Cleaning and Maintenance
LLP

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Report of the Members 1

Statement of Income and Retained Earnings 2

Abridged Balance Sheet 3

Reconciliation of Members' Interests 5

Notes to the Financial Statements 7


Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Report of the Members
for the Year Ended 31st March 2023

The members present their report with the financial statements of the LLP for the year ended 31st March 2023.

PRINCIPAL ACTIVITIES
The principal activities of the LLP in the year under review were those of cleaning and maintenance.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr S R Sumner
Mrs L J Sumner

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £481,426 (2022 - £344,632 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits that are due to them after the consideration of the working capital requirements of the Limited Liability Partnership and other regulatory requirements.

The profits are shared between the members on a pre-agreed basis after taking into account many varying factors. Any transfers between members or members’ accounts have been agreed by the relevant members involved.

Capital introduced from new members as subscribed capital and the repayment of the capital is set at the appointment date by agreement of the new member and the existing members. Capital introduced during the course of the business by existing members is due to be repaid in full with no interest charged to the Limited Liability Partnership.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

ON BEHALF OF THE MEMBERS:





Mrs L J Sumner - Designated member


17th October 2023

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Statement of Income and Retained Earnings
for the Year Ended 31st March 2023

2023 2022
£    £   

TURNOVER 7,635,855 5,748,104

Cost of sales 6,281,373 4,742,769
GROSS PROFIT 1,354,482 1,005,335

Administrative expenses 854,104 781,422
500,378 223,913

Other operating income - 135,303
OPERATING PROFIT 500,378 359,216


Interest payable and similar expenses 18,952 14,584
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




481,426




344,632


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

481,426

344,632

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Abridged Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 5,111 7,778
Tangible assets 6 605,242 410,825
610,353 418,603

CURRENT ASSETS
Stocks 46,949 37,862
Debtors 1,345,807 1,378,147
Cash at bank 363,812 -
1,756,568 1,416,009
CREDITORS
Amounts falling due within one year 1,604,959 1,412,841
NET CURRENT ASSETS 151,609 3,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

761,962

421,771

CREDITORS
Amounts falling due after more than one
year

608,793

259,317
NET ASSETS ATTRIBUTABLE TO
MEMBERS

153,169

162,454

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Abridged Balance Sheet - continued
31st March 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

-

1

MEMBERS' OTHER INTERESTS
Capital accounts 153,169 162,453
153,169 162,454

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 - 1
Members' other interests 153,169 162,453
153,169 162,454

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The financial statements were approved by the members of the LLP and authorised for issue on 17th October 2023 and were signed by:





Mr S R Sumner - Designated member

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Reconciliation of Members' Interests
for the Year Ended 31st March 2023


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1st April 2022 162,453 - 162,453
Profit for the financial year available for
discretionary division among members

-

481,426

481,426
Members' interests after profit for the year 162,453 481,426 643,879
Other divisions of profit - (481,426 ) (481,426 )
Introduced by members 563,000 - 563,000
Repayments of capital (572,284 ) - (572,284 )
Drawings on account and distributions of profit - - -
Balance at 31st March 2023 153,169 - 153,169

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members -
Amount due from members -
Balance at 1st April 2022 - 162,453
Profit for the financial year available for
discretionary division among members

-

481,426

Members' interests after profit for the year - 643,879
Other divisions of profit 481,426 -
Introduced by members - 563,000
Repayments of capital - (572,284 )
Drawings on account and distributions of profit (481,426 ) (481,426 )
Amount due to members -
Amount due from members -
Balance at 31st March 2023 - 153,169

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Reconciliation of Members' Interests
for the Year Ended 31st March 2023

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1st April 2021 132,762 - 132,762
Profit for the financial year available for
discretionary division among members

-

344,632

344,632
Members' interests after profit for the year 132,762 344,632 477,394
Other divisions of profit - (344,632 ) (344,632 )
Introduced by members 370,666 - 370,666
Repayments of capital (340,975 ) - (340,975 )
Drawings on account and distributions of profit - - -
Balance at 31st March 2022 162,453 - 162,453

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members -
Amount due from members -
Balance at 1st April 2021 - 132,762
Profit for the financial year available for
discretionary division among members

-

344,632

Members' interests after profit for the year - 477,394
Other divisions of profit 344,632 -
Introduced by members - 370,666
Repayments of capital - (340,975 )
Drawings on account and distributions of profit (344,631 ) (344,631 )
Amount due to members 1
Amount due from members -
Balance at 31st March 2022 1 162,454

No protection is afforded to creditors in the event of a winding-up of the LLP.

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Olivers Mill Cleaning and Maintenance LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC334494

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock valued using standard cost. Net realisable value is the value that would be received if the stock was sold immediately for the highest price realistically obtainable.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 320 (2022 - 325 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022
and 31st March 2023 17,750
AMORTISATION
At 1st April 2022 9,972
Amortisation for year 2,667
At 31st March 2023 12,639
NET BOOK VALUE

At 31st March 2023 5,111
At 31st March 2022 7,778

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 851,553
Additions 485,021
Disposals (185,518 )
At 31st March 2023 1,151,056
DEPRECIATION
At 1st April 2022 440,728
Charge for year 157,920
Eliminated on disposal (52,834 )
At 31st March 2023 545,814
NET BOOK VALUE
At 31st March 2023 605,242
At 31st March 2022 410,825

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st April 2022 284,941
Additions 404,217
Disposals (66,000 )
At 31st March 2023 623,158
DEPRECIATION
At 1st April 2022 104,834
Charge for year 116,299
Eliminated on disposal (34,289 )
At 31st March 2023 186,844
NET BOOK VALUE
At 31st March 2023 436,314
At 31st March 2022 180,107

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

The balances shown above would rank below unsecured creditors from the proceeds of a winding-up of the LLP.

8. ULTIMATE CONTROLLING PARTY

During the year, the ultimate controlling party was Mr S R Sumner and Mrs L J Sumner by virtue of having control of the designated members.