Limited Liability Partnership registration number OC396350 (England and Wales)
BEAMAN MAINTENANCE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BEAMAN MAINTENANCE LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BEAMAN MAINTENANCE LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
48,194
64,126
Current assets
Stocks
3,189
31,623
Debtors
4
95,131
47,355
Cash at bank and in hand
2,602
2,787
100,922
81,765
Creditors: amounts falling due within one year
5
(62,598)
(60,437)
Net current assets
38,324
21,328
Total assets less current liabilities
86,518
85,454
Creditors: amounts falling due after more than one year
6
(67,850)
(83,905)
Net assets attributable to members
18,668
1,549
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
18,668
1,549

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships' regime.

The financial statements were approved by the members and authorised for issue on 29 September 2023 and are signed on their behalf by:
29 September 2023
Mr N D Beaman
Designated member
Limited Liability Partnership registration number OC396350 (England and Wales)
BEAMAN MAINTENANCE LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Limited liability partnership information

Beaman Maintenance LLP is a limited liability partnership incorporated in England and Wales. The registered office is Unit 4, Howard Road, Park Farm Industrial Estate, Redditch, Worcestershire, B98 7SE.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts

due to members' and, where such an amount relates to current year profits, they are recognised within

‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided

amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable

from members are presented as debtors and shown as amounts due from members within members’

interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
BEAMAN MAINTENANCE LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2023
2022
Number
Number
Total
-
0
2
BEAMAN MAINTENANCE LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
4,731
2,008
105,760
112,499
Depreciation and impairment
At 1 April 2022
3,329
1,840
43,204
48,373
Depreciation charged in the year
209
83
15,640
15,932
At 31 March 2023
3,538
1,923
58,844
64,305
Carrying amount
At 31 March 2023
1,193
85
46,916
48,194
At 31 March 2022
1,402
168
62,556
64,126
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
95,131
47,355
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
17,317
20,171
Trade creditors
27,756
20,357
Taxation and social security
7,036
9,630
Other creditors
10,489
10,279
62,598
60,437
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
31,613
41,433
Other creditors
36,237
42,472
67,850
83,905

 

BEAMAN MAINTENANCE LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
7
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
44,266
50,501
Bank overdrafts
4,929
1,451
Bank loans
44,001
60,153
93,196
112,105

Hire purchase contracts are secured against the assets to which they relate.

 

Bank loans are secured by way of a government-backed guarantee.

 

8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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