Registered number
OC359727
Daawie & Mitha LLP
Filleted Accounts
30 November 2023
Daawie & Mitha LLP
Registered number: OC359727
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,322 6,282
Current assets
Stocks 100,000 97,250
Debtors 4 90,516 75,491
Cash at bank and in hand 336,835 714,816
527,351 887,557
Creditors: amounts falling due within one year 5 (41,496) (48,155)
Net current assets 485,855 839,402
Total assets less current liabilities 492,177 845,684
Net assets attributable to members 492,177 845,684
Represented by:
Loans and other debts due to members 6 492,177 845,684
492,177 845,684
Total members' interests
Loans and other debts due to members 6 492,177 845,684
492,177 845,684
For the year ended 30 November 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 15 August 2024 and signed on their behalf by:
H Mitha Ltd
Designated member
Daawie & Mitha LLP
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant, fixtures and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 7 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 26,175
Additions 2,008
At 30 November 2023 28,183
Depreciation
At 1 December 2022 19,893
Charge for the year 1,968
At 30 November 2023 21,861
Net book value
At 30 November 2023 6,322
At 30 November 2022 6,282
4 Debtors 2023 2022
£ £
Trade debtors 88,189 73,109
Other debtors 2,327 2,382
90,516 75,491
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 4,815 5,531
Other taxes and social security costs 24,781 34,778
Other creditors 11,900 7,846
41,496 48,155
6 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits 492,177 845,684
Amounts falling due within one year 492,177 845,684
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Daawie & Mitha LLP is a limited liability partnership incorporated in England. Its registered office is:
62 Bradford Road
Dewsbury
WF13 2DU
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