Acorah Software Products - Accounts Production 14.5.601 false true 30 April 2022 1 May 2021 false 1 May 2022 30 April 2023 30 April 2023 OC421843 Mr Jeremy Rothwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC421843 2022-04-30 OC421843 2023-04-30 OC421843 2022-05-01 2023-04-30 OC421843 frs-core:CurrentFinancialInstruments 2023-04-30 OC421843 frs-core:MotorVehicles 2023-04-30 OC421843 frs-core:MotorVehicles 2022-05-01 2023-04-30 OC421843 frs-core:MotorVehicles 2022-04-30 OC421843 frs-core:PlantMachinery 2023-04-30 OC421843 frs-core:PlantMachinery 2022-05-01 2023-04-30 OC421843 frs-core:PlantMachinery 2022-04-30 OC421843 frs-bus:LimitedLiabilityPartnershipLLP 2022-05-01 2023-04-30 OC421843 frs-bus:LimitedLiabilityPartnershipsSORP 2022-05-01 2023-04-30 OC421843 frs-bus:FilletedAccounts 2022-05-01 2023-04-30 OC421843 frs-bus:SmallEntities 2022-05-01 2023-04-30 OC421843 frs-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 OC421843 frs-bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 OC421843 frs-countries:EnglandWales 2022-05-01 2023-04-30 OC421843 frs-bus:PartnerLLP1 2022-05-01 2023-04-30 OC421843 2021-04-30 OC421843 2022-04-30 OC421843 2021-05-01 2022-04-30 OC421843 frs-core:CurrentFinancialInstruments 2022-04-30
Registered number: OC421843
High Fliers Cars LLP
Unaudited Financial Statements
For The Year Ended 30 April 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC421843
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,195,000 1,800,000
2,195,000 1,800,000
CURRENT ASSETS
Debtors 5 29,242 100
Cash at bank and in hand 12 -
29,254 100
Creditors: Amounts Falling Due Within One Year 6 (12,643 ) -
NET CURRENT ASSETS (LIABILITIES) 16,611 100
TOTAL ASSETS LESS CURRENT LIABILITIES 2,211,611 1,800,100
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,211,611 1,800,100
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 2,211,438 1,800,100
Other amounts 173 -
2,211,611 1,800,100
2,211,611 1,800,100
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 2,211,611 1,800,100
2,211,611 1,800,100
Page 1
Page 2
For the year ending 30 April 2023 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The member acknowledges his responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Jeremy Rothwell
Designated Member
1 January 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
High Fliers Cars LLP is a limited liability partnership, incorporated in England & Wales, registered number OC421843 . The Registered Office is Mintholme Hall, Gowans Lane, Brindle, Chorley, PR6 8NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2022: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2022 1,800,000 - 1,800,000
Additions - 395,000 395,000
As at 30 April 2023 1,800,000 395,000 2,195,000
Net Book Value
As at 30 April 2023 1,800,000 395,000 2,195,000
As at 1 May 2022 1,800,000 - 1,800,000
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,000 -
Other debtors 23,242 100
29,242 100
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,643 -
Page 4