Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC362607 Mr Stephen Childs Mr Gary Sewell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC362607 2023-03-31 OC362607 2024-03-31 OC362607 2023-04-01 2024-03-31 OC362607 frs-core:CurrentFinancialInstruments 2024-03-31 OC362607 frs-core:MotorVehicles 2024-03-31 OC362607 frs-core:MotorVehicles 2023-04-01 2024-03-31 OC362607 frs-core:MotorVehicles 2023-03-31 OC362607 frs-core:PlantMachinery 2024-03-31 OC362607 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC362607 frs-core:PlantMachinery 2023-03-31 OC362607 frs-core:WithinOneYear 2024-03-31 OC362607 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC362607 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC362607 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC362607 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC362607 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC362607 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC362607 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC362607 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC362607 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC362607 2022-03-31 OC362607 2023-03-31 OC362607 2022-04-01 2023-03-31 OC362607 frs-core:CurrentFinancialInstruments 2023-03-31 OC362607 frs-core:BetweenOneFiveYears 2023-03-31 OC362607 frs-core:PlantMachinery 2022-04-01 2023-03-31 OC362607 frs-core:WithinOneYear 2023-03-31
Registered number: OC362607
Sarac Engineering LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Profit Guide Accountants Ltd
Chartered Accountants
7 North Road
Great Yeldham
Halstead
CO9 4QA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC362607
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 126,462 158,092
126,462 158,092
CURRENT ASSETS
Debtors 5 277,505 238,878
Cash at bank and in hand 93,890 216,857
371,395 455,735
Creditors: Amounts Falling Due Within One Year 6 (197,159 ) (167,429 )
NET CURRENT ASSETS (LIABILITIES) 174,236 288,306
TOTAL ASSETS LESS CURRENT LIABILITIES 300,698 446,398
NET ASSETS ATTRIBUTABLE TO MEMBERS 300,698 446,398
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 300,698 446,398
300,698 446,398
300,698 446,398
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 300,698 446,398
300,698 446,398
Page 1
Page 2
For the year ending 31 March 2024 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 members acknowledge their 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 Gary Sewell
Designated Member
29 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sarac Engineering LLP is a limited liability partnership, incorporated in England & Wales, registered number OC362607 . The Registered Office is Unit 6, The Street Industrial Estate, Heybridge, Maldon, Essex, CM9 4XB.
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 comprises the invoiced value of goods and services supplied by the LLP, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 20% on reducing balance
Motor Vehicles 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was:
2024 2023
Office and administration 2 2
Manufacturing 8 10
10 12
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 473,319 7,281 480,600
As at 31 March 2024 473,319 7,281 480,600
Depreciation
As at 1 April 2023 315,463 7,045 322,508
Provided during the period 31,571 59 31,630
As at 31 March 2024 347,034 7,104 354,138
Net Book Value
As at 31 March 2024 126,285 177 126,462
As at 1 April 2023 157,856 236 158,092
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery - 11,147
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 272,370 233,798
Other debtors 5,135 5,080
277,505 238,878
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,950
Trade creditors 135,116 89,531
Bank loans and overdrafts 10,199 4,455
Other creditors 10,181 26,699
Taxation and social security 41,663 41,794
197,159 167,429
Page 4
Page 5
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 4,950
Later than one year and not later than five years - -
- 4,950
- 4,950
Page 5