Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01No description of principal activityfalse4747truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC304357 2022-04-01 2023-03-31 OC304357 2021-04-01 2022-03-31 OC304357 2023-03-31 OC304357 2022-03-31 OC304357 c:Buildings 2022-04-01 2023-03-31 OC304357 c:Buildings 2023-03-31 OC304357 c:Buildings 2022-03-31 OC304357 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304357 c:PlantMachinery 2022-04-01 2023-03-31 OC304357 c:PlantMachinery 2023-03-31 OC304357 c:PlantMachinery 2022-03-31 OC304357 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304357 c:MotorVehicles 2022-04-01 2023-03-31 OC304357 c:MotorVehicles 2023-03-31 OC304357 c:MotorVehicles 2022-03-31 OC304357 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304357 c:FurnitureFittings 2022-04-01 2023-03-31 OC304357 c:FurnitureFittings 2023-03-31 OC304357 c:FurnitureFittings 2022-03-31 OC304357 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304357 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304357 c:CurrentFinancialInstruments 2023-03-31 OC304357 c:CurrentFinancialInstruments 2022-03-31 OC304357 c:Non-currentFinancialInstruments 2023-03-31 OC304357 c:Non-currentFinancialInstruments 2022-03-31 OC304357 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC304357 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC304357 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC304357 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC304357 d:FRS102 2022-04-01 2023-03-31 OC304357 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC304357 d:FullAccounts 2022-04-01 2023-03-31 OC304357 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC304357 d:PartnerLLP2 2022-04-01 2023-03-31 OC304357 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC304357 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC304357 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC304357 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC304357










G.L.MOORE RACING LIMITED LIABILITY 
PARTNERSHIP

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2023
 






 



 







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G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
REGISTERED NUMBER: OC304357

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                      Note  
£
£

Fixed assets
  

Tangible assets
 3 
3,191,560
3,243,826

Current assets
  

Stocks
 5 
122,658
120,481

Debtors: amounts falling due within one year
 6 
262,231
236,081

Cash at bank and in hand
  
286,883
190,326

  
671,772
546,888

Creditors: amounts falling due within one year
 7 
(616,092)
(552,629)

Net current assets/(liabilities)
  
 
 
55,680
 
 
(5,741)

Total assets less current liabilities
  
3,247,240
3,238,085

Creditors: amounts falling due after more than one year
 8 
(734,963)
(864,175)

  
2,512,277
2,373,910

Net assets
  
2,512,277
2,373,910

Page 1

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
REGISTERED NUMBER: OC304357

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
                                                                      Note  
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
2,383,109
2,211,742

Members' other interests
  

Members' capital classified as equity
  
2
2

Other reserves classified as equity

  

129,166
162,166

  
 
129,168
 
162,168

  
2,512,277
2,373,910


Total members' interests
  

Loans and other debts due to members
 9 
2,383,109
2,211,742

Members' other interests
  
129,168
162,168

  
2,512,277
2,373,910


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 by: 


Mrs J Moore
Designated member

Date: 14 April 2024

The notes on pages 4 to 9 form part of these financial statements.

G.L.Moore Racing Limited Liability Partnership 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

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
317,012
317,012
-
-
317,012

Members' interests after profit for the year
2
477,521
477,523
2,001,247
2,001,247
2,478,770

Other division of profits
-
-
-
315,356
315,356
315,356

Movement in reserves
-
(315,356)
(315,356)
-
-
(315,356)

Drawings on account and distribution of profit
-
-
-
(104,860)
(104,860)
(104,860)

Amounts due to members
2,211,742
2,211,742

Balance at 31 March 2022
2
162,166
162,168
2,319,950
2,319,950
2,482,118

Profit for the year available for discretionary division among members
 
-
258,417
258,417
-
-
258,417

Members' interests after profit for the year
2
420,583
420,585
2,319,950
2,319,950
2,740,535

Other division of profits
-
-
-
291,417
291,417
291,417

Movement in reserves
-
(291,417)
(291,417)
-
-
(291,417)

Amounts introduced by members
-
-
-
(3,350)
(3,350)
(3,350)

Drawings on account and distribution of profit
-
-
-
(224,909)
(224,909)
(224,909)

Amounts due to members
2,383,109
2,383,109

Balance at 31 March 2023 
2
129,166
129,168
2,383,109
2,383,109
2,512,277

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

1.


General information

GL Moore Racing LLP is a private partnership registered in England and Wales, registration number OC304357. The address of the registered office is Albany House, Claremont Lane, Esher, Surrey KT10 9FQ.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

2.Accounting policies (continued)

  
2.4

Members' remuneration and division of profits

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 
2.5

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.

 
2.6

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 method.

Depreciation is provided on the following basis:

Freehold property
-
Buildings - over 100 years, Roof - over 70 years, Stables - over 50 years
Plant and machinery
-
over 4 years
Motor vehicles
-
over 4 years
Fixtures and fittings
-
over 4 years

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.

  
2.7

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Page 5

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

  
2.9

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Items under finance leases and hire purchase are secured over the asset to which they relate to.

 
2.10

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 (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. 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. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

Page 6

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

2.Accounting policies (continued)

  
2.11

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.


3.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
3,966,186
456,633
111,830
156,264
4,690,913


Additions
-
-
-
828
828



At 31 March 2023

3,966,186
456,633
111,830
157,092
4,691,741



Depreciation


At 1 April 2022
786,077
448,056
59,330
153,624
1,447,087


Charge for the year on owned assets
28,565
4,747
18,000
1,782
53,094



At 31 March 2023

814,642
452,803
77,330
155,406
1,500,181



Net book value



At 31 March 2023
3,151,544
3,830
34,500
1,686
3,191,560



At 31 March 2022
3,180,109
8,577
52,500
2,640
3,243,826


4.


Employees

The average number of employees during the year was 47 (2022 - 47)


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
122,658
120,481

122,658
120,481


Page 7

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
215,423
186,901

Other debtors
-
2,500

Prepayments and accrued income
46,808
46,679

262,231
236,080



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
186,900
196,505

Trade creditors
191,391
139,092

Other taxation and social security
134,730
122,187

Obligations under finance lease and hire purchase contracts
14,041
13,176

Other creditors
4,320
27,457

Accruals and deferred income
84,710
54,212

616,092
552,629



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
733,741
848,876

Net obligations under finance leases and hire purchase contracts
1,223
15,299

734,964
864,175


Page 8

 
G.L.MOORE RACING LIMITED LIABILITY PARTNERSHIP
 

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

9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
2,383,109
2,211,742

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

The HSBC bank loans are secured by way of a fixed and floating charge over the undertaking and all property and assets present and future.


2023
2022
£
£



Falling due within one year
2,383,109
2,211,742

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


10.


Controlling party

The Limited Liability Partnership was under the control of G L Moore and J Moore throughout the current and previous year.
Page 9