Limited Liability Partnership Registration No. OC346759 (England and Wales)
RJTF LLP
Annual report and unaudited financial statements
For the year ended 31 March 2023
Pages for filing with registrar
RJTF LLP
CONTENTS
Page
Accountants' report
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RJTF LLP
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,967
69,875
Current assets
Stocks
8,852
10,595
Debtors
4
29,228
29,532
Cash at bank and in hand
149,971
257,969
188,051
298,096
Creditors: amounts falling due within one year
5
(160,702)
(151,377)
Net current assets
27,349
146,719
Total assets less current liabilities
82,316
216,594
Creditors: amounts falling due after more than one year
6
(94,545)
(138,182)
Net (liabilities)/assets attributable to members
(12,229)
78,412
Represented by:
Loans and other debts due to members within one year
7
Amounts due in respect of profits
26,412
78,412
Members' other interests
7
Other reserves classified as equity
(38,641)
-
(12,229)
78,412

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2023 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

RJTF LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the members and authorised for issue on 17 January 2024 and are signed on their behalf by:
17 January 2024
R Webster-Shaw
Designated member
Limited Liability Partnership Registration No. OC346759
RJTF LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for food and beverages sold net of VAT. Turnover is recognised at the point of sale to the customer.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement.

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over life of the lease
Plant and machinery
33.33% Reducing balance method
Fixtures, fittings and equipment
33.33% Reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

RJTF LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 33 (2022: 27).

RJTF LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
149,995
159,529
309,524
Additions
-
6,852
6,852
At 31 March 2023
149,995
166,381
316,376
Depreciation and impairment
At 1 April 2022
103,424
136,225
239,649
Depreciation charged in the year
13,218
8,542
21,760
At 31 March 2023
116,642
144,767
261,409
Carrying amount
At 31 March 2023
33,353
21,614
54,967
At 31 March 2022
46,571
23,304
69,875
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
29,228
29,532
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
43,636
43,636
Trade creditors
56,423
63,827
Other taxation and social security
45,809
30,479
Other creditors
14,834
13,435
160,702
151,377
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
94,545
138,182
RJTF LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
6
Creditors: amounts falling due after more than one year
(Continued)
- 6 -

Bank loans of £138,182 (2022: £181,818) are secured by fixed and floating charges over the company's assets.

7
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Other amounts
Total
Total
2023
£
£
£
£
Amounts due to members
78,412
Members' interests at 1 April 2022
-
78,412
78,412
78,412
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
-
107,000
107,000
107,000
Loss for the financial year available for discretionary division among members
(38,641)
-
-
(38,641)
Members' interests after loss and remuneration for the year
(38,641)
185,412
185,412
146,771
Drawings
-
(159,000)
(159,000)
(159,000)
Members' interests at 31 March 2023
(38,641)
26,412
26,412
(12,229)
Amounts due to members
26,412
26,412
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

9
Limited liability partnership information

RJTF LLP is a limited liability partnership incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 ODL.

 

The limited liability partnerships's principal activities are disclosed in the Members' Report.

 

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

 

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