Registered number
OC439746
John Couzens Roofing LLP
Filleted Accounts
31 March 2023
John Couzens Roofing LLP
Registered number: OC439746
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 564,802 506,072
Current assets
Stocks 27,000 32,500
Debtors 4 3,207 822
Cash at bank and in hand 9,466 14,599
39,673 47,921
Creditors: amounts falling due within one year 5 (104,863) (112,299)
Net current liabilities (65,190) (64,378)
Total assets less current liabilities 499,612 441,694
Creditors: amounts falling due after more than one year 6 (50,877) (59,175)
Net assets attributable to members 448,735 382,519
Represented by:
Members' other interests
Members' capital classified as equity 415,177 382,519
Other reserves 33,558 -
448,735 382,519
448,735 382,519
Total members' interests
Members' other interests 448,735 382,519
448,735 382,519
For the year ended 31 March 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 24 October 2023 and signed on their behalf by:
John Couzens
Designated member
John Couzens Roofing LLP
Notes to the Accounts
for the year ended 31 March 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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Motor vehicles over 4 years
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 3 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 468,073 14,200 34,039 516,312
Additions - 47,235 29,043 76,278
At 31 March 2023 468,073 61,435 63,082 592,590
Depreciation
At 1 April 2022 - 1,730 8,510 10,240
Charge for the year - 3,905 13,643 17,548
At 31 March 2023 - 5,635 22,153 27,788
Net book value
At 31 March 2023 468,073 55,800 40,929 564,802
At 31 March 2022 468,073 12,470 25,529 506,072
4 Debtors 2023 2022
£ £
Trade debtors 2,256 -
Other debtors 951 822
3,207 822
5 Creditors: amounts falling due within one year 2023 2022
£ £
Credit card - Amex 9,483 -
Credit card - Black card 7,439 10,911
Credit card - One card - 155
Trade creditors 78,760 89,530
Other taxes and social security costs 6,185 9,303
Other creditors 2,996 2,400
104,863 112,299
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans balance b/fwd 13,314 -
Bank loans in year - 14,617
Bank loans interest in year 583 293
Bank loans payments in year (3,780) (1,596)
Bounce back loan b/fwd 45,860 -
Bounce back loan in year - 47,943
Bounce back loan interest in year 1,110 505
Bounce back loan payments in year (6,210) (2,587)
50,877 59,175
7 Other information
John Couzens Roofing LLP is a limited liability partnership incorporated in England. Its registered office is:
41 Swinburne Avenue
Broadstairs
Kent
CT10 2DP
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