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REGISTERED NUMBER: OC389189 (England and Wales)















NORTON WELLS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






NORTON WELLS LLP (REGISTERED NUMBER: OC389189)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


NORTON WELLS LLP (REGISTERED NUMBER: OC389189)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,488 2,938

CURRENT ASSETS
Stocks 9,855 7,855
Debtors 5 741,902 642,061
Cash at bank and in hand 19,625 228,761
771,382 878,677
CREDITORS
Amounts falling due within one year 6 188,186 234,920
NET CURRENT ASSETS 583,196 643,757
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

603,684

646,695

LOANS AND OTHER DEBTS DUE TO
MEMBERS

603,684

646,695

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 603,684 646,695

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 2024.

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.

NORTON WELLS LLP (REGISTERED NUMBER: OC389189)

BALANCE SHEET - continued
31 March 2024


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 18 July 2024 and were signed by:




Mr J B Melbourne - Designated member




Mr D Marshalsea - Designated member


NORTON WELLS LLP (REGISTERED NUMBER: OC389189)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Norton Wells LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC389189

Registered office: Unit E4
Ascot Business Park
Ascot
Berkshire
SL5 9FE

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.

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2023 - 5 ) .

NORTON WELLS LLP (REGISTERED NUMBER: OC389189)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 16,094
Additions 24,379
At 31 March 2024 40,473
DEPRECIATION
At 1 April 2023 13,156
Charge for year 6,829
At 31 March 2024 19,985
NET BOOK VALUE
At 31 March 2024 20,488
At 31 March 2023 2,938

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 671,007 591,598
Other debtors 70,895 50,463
741,902 642,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 185,548 233,212
Other creditors 2,638 1,708
188,186 234,920