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Company No: OC421537 (England and Wales)

ABA GROUNDCARE LLP

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

ABA GROUNDCARE LLP

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

ABA GROUNDCARE LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2023
ABA GROUNDCARE LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2023
DESIGNATED MEMBERS Mr J S A Hutchings
Mrs R V Hutchings
REGISTERED OFFICE North Whatley Farm Whatley
Winsham
Chard
TA20 4JS
England
United Kingdom
REGISTERED NUMBER OC421537 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Leanne House
6 Avon Close
Weymouth
Dorset
DT4 9UX
ABA GROUNDCARE LLP

BALANCE SHEET

As at 31 March 2023
ABA GROUNDCARE LLP

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 268,083 135,187
268,083 135,187
Current assets
Stocks 4 1,450,432 722,702
Debtors 5 342,462 296,070
Cash at bank and in hand 103,530 107,399
1,896,424 1,126,171
Creditors: amounts falling due within one year 6 ( 1,353,603) ( 800,718)
Net current assets 542,821 325,453
Total assets less current liabilities 810,904 460,640
Creditors: amounts falling due after more than one year 7 ( 115,463) ( 71,089)
Net assets attributable to members 695,441 389,551
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 107,180 2,770
Other amounts 588,261 386,781
695,441 389,551
Members' other interests
0 0
695,441 389,551
Total members' interests
Loans and other debts due to members 695,441 389,551
695,441 389,551

For the financial 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.

Members' responsibilities:

ABA Groundcare LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of ABA Groundcare LLP (registered number: OC421537) were approved and authorised for issue by the Board of Directors on 13 November 2023. They were signed on its behalf by:

Mrs R V Hutchings
Designated member
ABA GROUNDCARE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
ABA GROUNDCARE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ABA Groundcare LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is North Whatley Farm Whatley, Winsham, Chard, TA20 4JS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 % reducing balance
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The LLP as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 14 9

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2022 10,951 27,058 145,680 7,974 191,663
Additions 0 23,808 177,250 9,014 210,072
Disposals 0 0 ( 9,702) 0 ( 9,702)
At 31 March 2023 10,951 50,866 313,228 16,988 392,033
Accumulated depreciation
At 01 April 2022 3,942 8,988 37,667 5,879 56,476
Charge for the financial year 1,402 8,376 55,528 4,248 69,554
Disposals 0 0 ( 2,080) 0 ( 2,080)
At 31 March 2023 5,344 17,364 91,115 10,127 123,950
Net book value
At 31 March 2023 5,607 33,502 222,113 6,861 268,083
At 31 March 2022 7,009 18,070 108,013 2,095 135,187

4. Stocks

2023 2022
£ £
Stocks 1,450,432 722,702

5. Debtors

2023 2022
£ £
Trade debtors 266,721 264,191
Other debtors 75,741 31,879
342,462 296,070

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Trade creditors 1,265,287 765,397
Other taxation and social security 8,570 0
Obligations under finance leases and hire purchase contracts 40,651 13,766
Other creditors 29,095 11,555
1,353,603 800,718

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 22,500 32,500
Obligations under finance leases and hire purchase contracts (secured) 92,963 38,589
115,463 71,089

Hire purchases included above are secured against the asset to which they relate.

8. Related party transactions

Transactions with the entity's members

2023 2022
£ £
Amounts owed to members in respect of profits 695,641 389,552
Falling due within one year 695,641 389,552

In an event of winding up, all other creditors will be paid before loans from the members are repaid.