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REGISTERED NUMBER: OC375850 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SIMPLY LOCAL WILLENHALL LLP

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

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


SIMPLY LOCAL WILLENHALL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mrs Sukhjit Kaur
Mr Sukhjit Khera





REGISTERED OFFICE: St James Lane
Coventry
West Midlands
CV3 3FU





REGISTERED NUMBER: OC375850 (England and Wales)






SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,000 32,197

CURRENT ASSETS
Stocks 5 75,210 162,590
Debtors 6 657,356 452,283
Cash at bank 217 74
732,783 614,947
CREDITORS
Amounts falling due within one year 7 279,551 244,993
NET CURRENT ASSETS 453,232 369,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,232

402,151

CREDITORS
Amounts falling due after more than one
year

8

298,103

276,939
NET ASSETS ATTRIBUTABLE TO
MEMBERS

176,129

125,212

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

176,129

125,212

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 176,129 125,212

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.

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

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 10 April 2024 and were signed by:





Mr Sukhjit Khera - Designated member

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Simply Local Willenhall 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.
Fixtures and fittings - 15% on reducing balance

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - 2 ).

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 14,350 89,932 104,282
Disposals (14,350 ) - (14,350 )
At 31 March 2023 - 89,932 89,932
DEPRECIATION
At 1 April 2022 6,859 65,226 72,085
Charge for year - 3,706 3,706
Eliminated on disposal (6,859 ) - (6,859 )
At 31 March 2023 - 68,932 68,932
NET BOOK VALUE
At 31 March 2023 - 21,000 21,000
At 31 March 2022 7,491 24,706 32,197

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 75,210 162,590

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Prepayments and accrued income 8,850 -

Amounts falling due after more than one year:
Amounts owed by group undertakings 648,506 452,283

Aggregate amounts 657,356 452,283

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 9) 177,787 86,920
Hire purchase contracts - 43,976
Trade creditors - 1
Social security and other taxes 32,838 55,325
Wages control account - (850 )
Pensions control account - 7
VAT 65,776 58,114
Accrued expenses 3,150 1,500
279,551 244,993

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 298,103 227,536
Hire purchase contracts - 49,403
298,103 276,939

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 158,811 78,834

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 99,907 -
Bank loans - less than 1 yr 47,520 45,745
Bank loans - less than 1 yr 30,360 41,175
177,787 86,920

Amounts falling due between one and two years:
Bank loans - 1-2 years 17,160 41,535

Amounts falling due between two and five years:
Bank loans - 2-5 years 122,132 107,167

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. LOANS - continued
31.3.23 31.3.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 158,811 78,834

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 176,129 125,212

Falling due within one year 176,129 125,212