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REGISTERED NUMBER: OC355384 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Busfeild Arms LLP

Busfeild Arms LLP (Registered number: OC355384)






Contents of the Financial Statements
for the Year Ended 31 July 2022




Page

General information 1

Report of the members 2

Income statement 3

Balance sheet 4

Notes to the financial statements 6


Busfeild Arms LLP

General Information
for the Year Ended 31 July 2022







DESIGNATED MEMBERS: Miss T J Crosswaite
Mrs S M Crosswaite
M S Crosswaite





REGISTERED OFFICE: Main Road
East Morton
Keighley
West Yorkshire
BD20 5SP





REGISTERED NUMBER: OC355384 (England and Wales)





ACCOUNTANTS: DWilkinson&Company
Moors House
11 South Hawksworth Street
Ilkley
West Yorkshire
LS29 9DX

Busfeild Arms LLP (Registered number: OC355384)

Report of the Members
for the Year Ended 31 July 2022

The members present their report with the financial statements of the LLP for the year ended 31 July 2022.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of a restaurant and public house.

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

Miss T J Crosswaite
Mrs S M Crosswaite
M S Crosswaite

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £24,749 (2021 - £99,205 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





M S Crosswaite - Designated member


25 October 2023

Busfeild Arms LLP (Registered number: OC355384)

Income Statement
for the Year Ended 31 July 2022

31.7.22 31.7.21
Notes £    £   

TURNOVER 1,057,879 385,968

Cost of sales 501,681 227,127
GROSS PROFIT 556,198 158,841

Administrative expenses 695,926 382,605
(139,728 ) (223,764 )

Other operating income 171,044 124,667
OPERATING PROFIT/(LOSS) 4 31,316 (99,097 )


Interest payable and similar
expenses

6,567

108
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION
AMONG MEMBERS





24,749





(99,205





)

Busfeild Arms LLP (Registered number: OC355384)

Balance Sheet
31 July 2022

31.7.22 31.7.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 985,920 923,487

CURRENT ASSETS
Stocks 6 18,832 9,075
Debtors 7 20,345 9,887
Cash at bank and in hand 109,324 108,599
148,501 127,561
CREDITORS
Amounts falling due within one year 8 128,199 73,022
NET CURRENT ASSETS 20,302 54,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,006,222

978,026

CREDITORS
Amounts falling due after more than
one year

9

185,170

88,350
NET ASSETS ATTRIBUTABLE TO
MEMBERS

821,052

889,676

LOANS AND OTHER DEBTS DUE
TO MEMBERS

12

821,052

889,676

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

12

821,052

889,676

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 31 July 2022.

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.

Busfeild Arms LLP (Registered number: OC355384)

Balance Sheet - continued
31 July 2022


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

The financial statements were approved by the members of the LLP and authorised for issue on 25 October 2023 and were signed by:





M S Crosswaite - Designated member

Busfeild Arms LLP (Registered number: OC355384)

Notes to the Financial Statements
for the Year Ended 31 July 2022

1. STATUTORY INFORMATION

Busfeild Arms LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Hire purchase and leasing commitments
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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 40 (2021 - 37 ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2021 - operating loss) is stated after charging:

31.7.22 31.7.21
£    £   
Depreciation - owned assets 50,988 40,847

Busfeild Arms LLP (Registered number: OC355384)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 August 2021 704,838 250,188 236,733
Additions - 94,287 19,134
At 31 July 2022 704,838 344,475 255,867
DEPRECIATION
At 1 August 2021 - 113,030 160,806
Charge for year - 34,475 14,259
At 31 July 2022 - 147,505 175,065
NET BOOK VALUE
At 31 July 2022 704,838 196,970 80,802
At 31 July 2021 704,838 137,158 75,927

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2021 5,000 5,182 1,201,941
Additions - - 113,421
At 31 July 2022 5,000 5,182 1,315,362
DEPRECIATION
At 1 August 2021 2,891 1,727 278,454
Charge for year 527 1,727 50,988
At 31 July 2022 3,418 3,454 329,442
NET BOOK VALUE
At 31 July 2022 1,582 1,728 985,920
At 31 July 2021 2,109 3,455 923,487

6. STOCKS
31.7.22 31.7.21
£    £   
Stocks 18,832 9,075

Busfeild Arms LLP (Registered number: OC355384)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Other debtors 8,000 8,000
VAT - 1,887
Prepayments 12,345 -
20,345 9,887

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Bank loans and overdrafts (see note 10)
4,997

-
Trade creditors 80,702 60,879
Social security and other taxes 4,160 7,697
VAT 29,696 -
Other creditors 1,005 776
Accrued expenses 7,639 3,670
128,199 73,022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.22 31.7.21
£    £   
Other loans (see note 10) 185,170 88,350

10. LOANS

An analysis of the maturity of loans is given below:

31.7.22 31.7.21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4,997 -

Amounts falling due between one and two years:
Loans 185,170 88,350

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.22 31.7.21
£    £   
Loans 185,170 88,350

Busfeild Arms LLP (Registered number: OC355384)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022

12. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.7.22 31.7.21
£    £   
Amounts owed to members in respect of profits 821,052 889,676

Falling due within one year 821,052 889,676

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