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Registration number: OC436948

Churchtown Cafe LLP

trading as Churchtown Cafe

Annual Report and Unaudited Financial Statements

for the period from 1 May 2022 to 31 March 2023

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Contents

Limited liability partnership information

1

Financial Statements

2 to 9

Balance Sheet

2

Statement of Changes in Members’ Interests

4

Notes to the Financial Statements

5

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Limited liability partnership information

Designated members

Mrs R Hutchins

Mr S Hutchins
 

Registered office

Lowenna House
35 Egloshayle Road
Waebridge
Cornwall
PL27 6AE

Accountants

Alexander & Co
AAT Licenced Accountant
Schooners Business Park
Bess Park Road
Wadebridge
Cornwall
PL27 6HB

 

Churchtown Cafe LLP

trading as Churchtown Cafe

(Registration number: OC436948)
Balance Sheet as at 31 March 2023

Note

31 March 2023
 £

30 April 2022
 £

Fixed assets

 

Tangible assets

3

1,155

1,608

Current assets

 

Stocks

4

1,650

1,705

Debtors

5

-

159

Cash and short-term deposits

 

38,642

19,029

 

40,292

20,893

Creditors: Amounts falling due within one year

6

(1,289)

(1,142)

Net current assets

 

39,003

19,751

Net assets attributable to members

 

40,158

21,359

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

40,158

21,359

   

40,158

21,359

Total members' interests

 

Loans and other debts due to members

 

40,158

21,359

   

40,158

21,359

For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Churchtown Cafe LLP

trading as Churchtown Cafe

(Registration number: OC436948)
Balance Sheet as at 31 March 2023 (continued)

The financial statements of Churchtown Cafe LLP (registered number OC436948) were approved by the Board and authorised for issue on 23 October 2023. They were signed on behalf of the limited liability partnership by:

.........................................
Mrs R Hutchins
Designated member

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Statement of Changes in Members’ Interests
At 31 March 2023

 

Loans and other debts due to/(from) members

   

Members' other amounts
£

Total debt
£

Total
2023
 £

Members' interest at 1 May 2022

21,359

21,359

21,359

Members' remuneration charged as an expense

35,799

35,799

35,799

Members' interests after total comprehensive income

57,158

57,158

57,158

Drawings (including tax payments)

(17,000)

(17,000)

(17,000)

At 31 March 2023

40,158

40,158

40,158

 

Loans and other debts due to/(from) members

   

Members' other amounts
£

Total debt
£

Total
2022
 £

Members' remuneration charged as an expense

9,359

9,359

9,359

Members’ capital introduced

12,000

12,000

12,000

At 30 April 2022

21,359

21,359

21,359

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Notes to the Financial Statements for the Period from 1 May 2022 to 31 March 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Churchtown Cafe LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Notes to the Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

1

Accounting policies (continued)

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Computer equipment

33% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Notes to the Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

1

Accounting policies (continued)

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 0 (2022 - 2).

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Notes to the Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

3

Tangible fixed assets

Plant and machinery
£

Office equipment
£

Total
£

Cost

At 1 May 2022

1,860

318

2,178

At 31 March 2023

1,860

318

2,178

Depreciation

At 1 May 2022

465

105

570

Charge for the year

348

105

453

At 31 March 2023

813

210

1,023

Net book value

At 31 March 2023

1,047

108

1,155

At 30 April 2022

1,395

213

1,608

4

Stocks

31 March 2023
 £

30 April 2022
 £

Stocks

1,650

1,705

5

Debtors

31 March 2023
 £

30 April 2022
 £

Prepayments and accrued income

-

159

Total current trade and other debtors

-

159

6

Creditors: Amounts falling due within one year

31 March 2023
 £

30 April 2022
 £

Trade creditors

95

2

Accruals and deferred income

1,194

1,140

1,289

1,142

 

Churchtown Cafe LLP

trading as Churchtown Cafe

Notes to the Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.