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REGISTERED NUMBER: OC402219
Lenagh Plant Hire LLP
Filleted Unaudited Financial Statements
31 March 2023
Lenagh Plant Hire LLP
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Current assets
Stocks
450,081
Debtors
4
1,360
Cash at bank and in hand
565,524
295
---------
---------
566,884
450,376
Creditors: amounts falling due within one year
5
1,650
---------
---------
Net current assets
565,234
450,376
---------
---------
Total assets less current liabilities
565,234
450,376
---------
---------
Net assets
565,234
450,376
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
6
565,234
450,376
---------
---------
Members' other interests
Other reserves
---------
---------
565,234
450,376
---------
---------
Total members' interests
Loans and other debts due to members
6
565,234
450,376
Members' other interests
---------
---------
565,234
450,376
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
Lenagh Plant Hire LLP
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the members and authorised for issue on 18 August 2023 , and are signed on their behalf by:
Mr S Lenagh
Designated Member
Registered number: OC402219
Lenagh Plant Hire LLP
Notes to the Financial Statements
Year ended 31 March 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Orchard End, Bishops Drive, Southwell, Nottingham, NG25 0JP.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Members' participation rights
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the income statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4.
Debtors
2023
2022
£
£
Other debtors
1,360
-------
----
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,650
-------
----
6.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
565,234
450,376
---------
---------
7.
Related party transactions
The LLP paid £564,510 (2022:£450,081) for construction services supplied by Lenagh Home Developments LLP, a LLP controlled by the partners.