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REGISTERED NUMBER: OC403189 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

P&R AMERICAN CLASSICS LLP

P&R AMERICAN CLASSICS LLP (REGISTERED NUMBER: OC403189)

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


P&R AMERICAN CLASSICS LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: P Cavallo
Mrs L Williams





REGISTERED OFFICE: Vinces Barn
Frating Road
Ardleigh
Essex
CO7 7SU





REGISTERED NUMBER: OC403189 (England and Wales)





ACCOUNTANTS: Hooper & Co (Financial Management) Limited
166 High Street
Kelvedon
Colchester
Essex
CO5 9JD

P&R AMERICAN CLASSICS LLP (REGISTERED NUMBER: OC403189)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 232,248 230,125

CURRENT ASSETS
Stocks 665,250 672,219
Debtors 5 8,466 5,000
Cash at bank 325,753 140,320
999,469 817,539
CREDITORS
Amounts falling due within one year 6 (4,700 ) (10,361 )
NET CURRENT ASSETS 994,769 807,178
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,227,017 1,037,303

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

1,227,017

1,037,303

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,227,017 1,037,303

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.

P&R AMERICAN CLASSICS LLP (REGISTERED NUMBER: OC403189)

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 November 2023 and were signed by:





P Cavallo - Designated member

P&R AMERICAN CLASSICS LLP (REGISTERED NUMBER: OC403189)

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


1. STATUTORY INFORMATION

P&R American Classics 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.
Land and buildings - 2% on cost of Buildings.
Plant and machinery etc - 25% on cost

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

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 229,949 7,824 237,773
Additions 8,855 - 8,855
At 31 March 2023 238,804 7,824 246,628
DEPRECIATION
At 1 April 2022 4,599 3,049 7,648
Charge for year 4,776 1,956 6,732
At 31 March 2023 9,375 5,005 14,380
NET BOOK VALUE
At 31 March 2023 229,429 2,819 232,248
At 31 March 2022 225,350 4,775 230,125

P&R AMERICAN CLASSICS LLP (REGISTERED NUMBER: OC403189)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 5,000
Other debtors 8,466 -
8,466 5,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,000 -
Taxation and social security - 8,661
Other creditors 1,700 1,700
4,700 10,361

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans to members rank equally with other creditors.