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REGISTERED NUMBER: OC411243 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Storm Board LLP

Storm Board LLP (Registered number: OC411243)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Storm Board LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: C D Nicholson - Chairman
M I Stillwell





REGISTERED OFFICE: Snarlton Farm
Wingfield
Trowbridge
Wiltshire
BA14 9LH





REGISTERED NUMBER: OC411243 (England and Wales)





ACCOUNTANTS: Monahans
Chartered Accountants
County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ

Storm Board LLP (Registered number: OC411243)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 497,049 507,190
497,049 507,190

CURRENT ASSETS
Stocks 10,974 24,986
Debtors 6 55,600 64,242
Cash at bank and in hand 11,723 40,646
78,297 129,874
CREDITORS
Amounts falling due within one year 7 446,492 526,276
NET CURRENT LIABILITIES (368,195 ) (396,402 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

128,854

110,788

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

128,854

110,788

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 128,854 110,788
Amounts due from members 6 (23,782 ) (43,600 )
105,072 67,188

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 March 2023.

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.

Storm Board LLP (Registered number: OC411243)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 October 2023 and were signed by:




C D Nicholson - Chairman - Designated member




M I Stillwell - Designated member


Storm Board LLP (Registered number: OC411243)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis which assumes that the LLP will continue to receive adequate financial support from its members to enable it to continue its normal operations for the foreseeable future.

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

Turnover is recognised on completion of production and when title passes to the customer, normally when goods are despatched.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on straight line basis

WIth effect from 1 April 2020 the depreciation rate applicable to plant and machinery has been changed from 20%pa on a straight line basis to 10%pa on a straight line basis.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 1 (2022 - 3 ) .

Storm Board LLP (Registered number: OC411243)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2022
and 31 March 2023 150,000
AMORTISATION
At 1 April 2022
and 31 March 2023 150,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 929,670
Disposals (38,195 )
At 31 March 2023 891,475
DEPRECIATION
At 1 April 2022 422,480
Eliminated on disposal (28,054 )
At 31 March 2023 394,426
NET BOOK VALUE
At 31 March 2023 497,049
At 31 March 2022 507,190

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,437 16,302
Amounts due from members 23,782 43,600
Other debtors - 4,340
Prepayments 381 -
55,600 64,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 369,709 396,614
Social security and other taxes 413 1,328
VAT 6,992 5,674
Other creditors 64,867 92,021
Accrued expenses 4,511 30,639
446,492 526,276

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank behind other creditors in the event of a winding up of the LLP.

Storm Board LLP (Registered number: OC411243)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

Protomax Plastics Limited ("PPL")

A company of which CD Nicholson and NJ Stillwell are directors.

At the balance sheet date the LLP owed PPL £335,040 (2022: £358,906).

Upcycle Holdings Limited ("UH")

A company registered in Ireland of which CD Nicholson and NJ Stillwell are shareholders.

At the balance sheet date the LLP owed UH £64,867 (2022: £92,021).