Registered number
OC328731
Fire Fighter 247 LLP
Accounts
31 March 2023
Fire Fighter 247 LLP
Registered number: OC328731
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 150,710 91,146
Current assets
Stocks 95,260 131,638
Debtors 4 1,598,463 1,217,300
Cash at bank and in hand 6,799 404,133
1,700,522 1,753,071
Creditors: amounts falling due within one year 5 (1,615,095) (1,274,949)
Net current assets 85,427 478,122
Total assets less current liabilities 236,137 569,268
Creditors: amounts falling due after more than one year 6 (483,448) (553,922)
Net (liabilities)/assets attributable to members (247,311) 15,346
Represented by:
Loans and other debts due to members 7 (247,311) 15,346
(247,311) 15,346
Total members' interests
Loans and other debts due to members 7 (247,311) 15,346
(247,311) 15,346
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 3 October 2023 and signed on their behalf by:
D Price
Designated member
Fire Fighter 247 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 3 years
Office equipment over 2 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 24 24
3 Tangible fixed assets
Plant and machinery Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 50,559 131,188 68,634 250,381
Additions 11,548 39,466 86,127 137,141
At 31 March 2023 62,107 170,654 154,761 387,522
Depreciation
At 1 April 2022 41,525 88,612 29,098 159,235
Charge for the year 6,542 40,168 30,867 77,577
At 31 March 2023 48,067 128,780 59,965 236,812
Net book value
At 31 March 2023 14,040 41,874 94,796 150,710
At 31 March 2022 9,034 42,576 39,536 91,146
4 Debtors 2023 2022
£ £
Trade debtors 1,481,454 1,110,267
Prepayments 4,638 25,349
Other debtors 112,371 81,684
1,598,463 1,217,300
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 507,275 450,156
Obligations under finance lease and hire purchase contracts 34,702 15,254
Trade creditors 572,940 335,607
Accruals and deferred income 311,871 462,151
Other taxes and social security costs 157,716 -
Other creditors 30,591 11,781
1,615,095 1,274,949
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank and other loans 438,359 553,922
Obligations under finance lease and hire purchase contracts 45,089 -
483,448 553,922
7 Loans and other debts due to members 2023 2022
£ £
Loans from members (40,465) (40,465)
Amounts due to members in respect of profits (206,846) 55,811
(247,311) 15,346
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Fire Fighter 247 LLP is a limited liability partnership incorporated in England. Its registered office is:
Unit 4 Old Sawmills Trading Estate
Broughton Gifford
Melksham
Wiltshire
SN12 8PY
Fire Fighter 247 LLP OC328731 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 D Price No description of principal activity OC328731 2021-04-01 2022-03-31 OC328731 core:WithinOneYear 2022-03-31 OC328731 core:AfterOneYear 2022-03-31 OC328731 1 2022-03-31 OC328731 2022-04-01 2023-03-31 OC328731 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC328731 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC328731 bus:PartnerLLP20 2022-04-01 2023-03-31 OC328731 3 2022-04-01 2023-03-31 OC328731 1 2022-04-01 2023-03-31 OC328731 2 2022-04-01 2023-03-31 OC328731 4 2022-04-01 2023-03-31 OC328731 core:LandBuildings 2022-04-01 2023-03-31 OC328731 core:PlantMachinery 2022-04-01 2023-03-31 OC328731 core:Vehicles 2022-04-01 2023-03-31 OC328731 countries:England 2022-04-01 2023-03-31 OC328731 bus:FRS102 2022-04-01 2023-03-31 OC328731 bus:FullAccounts 2022-04-01 2023-03-31 OC328731 2023-03-31 OC328731 core:WithinOneYear 2023-03-31 OC328731 core:AfterOneYear 2023-03-31 OC328731 1 2023-03-31 OC328731 core:LandBuildings 2023-03-31 OC328731 core:PlantMachinery 2023-03-31 OC328731 core:Vehicles 2023-03-31 OC328731 2022-03-31 OC328731 core:LandBuildings 2022-03-31 OC328731 core:PlantMachinery 2022-03-31 OC328731 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure