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REGISTERED NUMBER: OC373390 (England and Wales)













Unaudited Financial Statements

for the Period 1 March 2023 to 31 March 2024

for

AEP (NE) LLP

AEP (NE) LLP (Registered number: OC373390)






Contents of the Financial Statements
for the Period 1 March 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AEP (NE) LLP

General Information
for the Period 1 March 2023 to 31 March 2024







DESIGNATED MEMBERS: A I Keeler
S G Wright





REGISTERED OFFICE: Unit B8
Arlon Court,Green Square
Kirkleatham Business Park
Redcar
TS10 5RS





REGISTERED NUMBER: OC373390 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

AEP (NE) LLP (Registered number: OC373390)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,841 11,578

CURRENT ASSETS
Stocks 30,358 4,778
Debtors 5 64,086 104,423
Cash at bank 82,938 65,006
177,382 174,207
CREDITORS
Amounts falling due within one year 6 157,213 115,028
NET CURRENT ASSETS 20,169 59,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,010

70,757

CREDITORS
Amounts falling due after more than one
year

7

86,892

33,292
NET ASSETS ATTRIBUTABLE TO
MEMBERS

31,118

37,465

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

31,118

37,465

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 31,118 37,465
Amounts due from members 5 (2,256 ) -
28,862 37,465

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 period 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.

AEP (NE) LLP (Registered number: OC373390)

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 8 August 2024 and were signed by:




A I Keeler - Designated member




S G Wright - Designated member


AEP (NE) LLP (Registered number: OC373390)

Notes to the Financial Statements
for the Period 1 March 2023 to 31 March 2024

1. STATUTORY INFORMATION

AEP (NE) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The financial statements are presented in sterling which is the functional currency of the LLP and rounded to the nearest £.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Change in accounting period
This accounting period was extended to 31 March 2024 and covers a 13 month period due to the changes in basis period reform. The previous figures cover a 12 month period and therefore are not entirely comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful economic lives. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease.

Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the periods in which they are incurred.

Rentals payable and receivable under operating leases are charged to the profit and loss account 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.

AEP (NE) LLP (Registered number: OC373390)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors payable/receivable
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

GOVERNMENT GRANTS
The business received government grants in respect of the Coronavirus Job Retention Scheme & the Small Business Grant Fund. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attached to them. The grants were received using the accrual model.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 4,456 2,710 22,245 5,976 35,387
Additions - 1,075 108,168 - 109,243
Disposals - - (16,645 ) - (16,645 )
At 31 March 2024 4,456 3,785 113,768 5,976 127,985
DEPRECIATION
At 1 March 2023 1,635 2,708 17,595 1,871 23,809
Charge for period 1,209 121 19,707 1,599 22,636
Eliminated on disposal - - (16,301 ) - (16,301 )
At 31 March 2024 2,844 2,829 21,001 3,470 30,144
NET BOOK VALUE
At 31 March 2024 1,612 956 92,767 2,506 97,841
At 28 February 2023 2,821 2 4,650 4,105 11,578

AEP (NE) LLP (Registered number: OC373390)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 108,168
At 31 March 2024 108,168
DEPRECIATION
Charge for period 15,402
At 31 March 2024 15,402
NET BOOK VALUE
At 31 March 2024 92,766

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 59,231 102,921
Other debtors 4,855 1,502
64,086 104,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,250 4,250
Hire purchase contracts (see note 8) 36,725 -
Trade creditors 65,123 49,338
Taxation and social security 17,426 20,631
Other creditors 33,689 40,809
157,213 115,028

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,474 33,292
Hire purchase contracts (see note 8) 58,418 -
86,892 33,292

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,473 16,292

AEP (NE) LLP (Registered number: OC373390)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 36,725 -
Between one and five years 58,418 -
95,143 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 676 763
Between one and five years 1,184 -
1,860 763

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 31,118 37,465

Falling due within one year 31,118 37,465

Loans and other debts due to members rank after all unsecured creditors in the event of a winding up. No legally enforceable protection is afforded to any creditors.