Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-02-21trueNo description of principal activity2falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC441132 2022-02-20 OC441132 2022-02-21 2023-02-28 OC441132 2021-03-01 2022-02-20 OC441132 2023-02-28 OC441132 c:Buildings 2022-02-21 2023-02-28 OC441132 c:Buildings 2023-02-28 OC441132 c:Buildings c:OwnedOrFreeholdAssets 2022-02-21 2023-02-28 OC441132 c:PlantMachinery 2022-02-21 2023-02-28 OC441132 c:PlantMachinery 2023-02-28 OC441132 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-02-21 2023-02-28 OC441132 c:MotorVehicles 2022-02-21 2023-02-28 OC441132 c:MotorVehicles 2023-02-28 OC441132 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-02-21 2023-02-28 OC441132 c:OwnedOrFreeholdAssets 2022-02-21 2023-02-28 OC441132 c:CurrentFinancialInstruments 2023-02-28 OC441132 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 OC441132 d:FRS102 2022-02-21 2023-02-28 OC441132 d:AuditExempt-NoAccountantsReport 2022-02-21 2023-02-28 OC441132 d:FullAccounts 2022-02-21 2023-02-28 OC441132 d:LimitedLiabilityPartnershipLLP 2022-02-21 2023-02-28 OC441132 d:PartnerLLP2 2022-02-21 2023-02-28 OC441132 c:FurtherSpecificReserve3ComponentTotalEquity 2023-02-28 iso4217:GBP xbrli:pure

Registered number: OC441132










HIRST LIVERIES AND SPORT HORSES LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
HIRST LIVERIES AND SPORT HORSES LLP
REGISTERED NUMBER: OC441132

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
21,386

  
21,386

Current assets
  

Debtors: amounts falling due within one year
 5 
2,055

Cash at bank and in hand
  
18,353

  
20,408

Creditors: Amounts Falling Due Within One Year
 6 
(2,512)

Net current assets
  
 
 
17,896

Total assets less current liabilities
  
39,282

  

Net assets
  
39,282


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
15,940

Other amounts
  
23,342

  
39,282

  

  
39,282


Total members' interests
  

Loans and other debts due to members
  
39,282

  
39,282


Page 1

 
HIRST LIVERIES AND SPORT HORSES LLP
REGISTERED NUMBER: OC441132
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 15 November 2023.




K Hirst
Designated member

The notes on pages 3 to 6 form part of these financial statements.

Hirst Liveries and Sport Horses 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.

Page 2

 
HIRST LIVERIES AND SPORT HORSES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

Hirst Liveries and Sport Horses LLP is a Limited Liability Partnership incorporated in England and Wales. The address of its registered office is Carr Farm, Ormesby, Great Yarmouth, NR29 3LG.
The Company's principal activity is the operation of equestrian services and related activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HIRST LIVERIES AND SPORT HORSES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and reducing balance method..

Depreciation is provided on the following basis:

Freehold property
-
10%
straight line
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
HIRST LIVERIES AND SPORT HORSES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


Additions
7,817
13,938
4,000
25,755



At 28 February 2023

7,817
13,938
4,000
25,755



Depreciation


Charge for the period on owned assets
782
2,787
800
4,369



At 28 February 2023

782
2,787
800
4,369



Net book value



At 28 February 2023
7,035
11,151
3,200
21,386

Page 5

 
HIRST LIVERIES AND SPORT HORSES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

5.


Debtors

2023
£


Other debtors
2,055

2,055



6.


Creditors: Amounts falling due within one year

2023
£

Accruals and deferred income
2,512

2,512



7.


Loans and other debts due to members


2023
£



Members' capital treated as debt
15,940

Other amounts due to members
23,342

39,282

Loans and other debts due to members may be further analysed as follows:

2023
£



Falling due within one year
39,282

39,282

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 6