Drinkwater Construction LLP OC319895 false 2023-02-01 2024-03-31 2024-03-31 The principal activity of the company is construction Digita Accounts Production Advanced 6.30.9574.0 true OC319895 2023-02-01 2024-03-31 OC319895 2024-03-31 OC319895 core:CurrentFinancialInstruments 2024-03-31 OC319895 core:Non-currentFinancialInstruments 2024-03-31 OC319895 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC319895 core:WithinOneYear 2024-03-31 OC319895 core:MotorVehicles 2024-03-31 OC319895 core:PlantMachinery 2024-03-31 OC319895 bus:SmallEntities 2023-02-01 2024-03-31 OC319895 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-03-31 OC319895 bus:FilletedAccounts 2023-02-01 2024-03-31 OC319895 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-03-31 OC319895 bus:RegisteredOffice 2023-02-01 2024-03-31 OC319895 bus:PartnerLLP1 2023-02-01 2024-03-31 OC319895 bus:PartnerLLP2 2023-02-01 2024-03-31 OC319895 bus:PartnerLLP3 2023-02-01 2024-03-31 OC319895 bus:PartnerLLP4 2023-02-01 2024-03-31 OC319895 bus:PartnerLLP5 2023-02-01 2024-03-31 OC319895 bus:LimitedLiabilityPartnershipLLP 2023-02-01 2024-03-31 OC319895 core:MotorVehicles 2023-02-01 2024-03-31 OC319895 core:PlantMachinery 2023-02-01 2024-03-31 OC319895 countries:AllCountries 2023-02-01 2024-03-31 OC319895 2023-01-31 OC319895 core:MotorVehicles 2023-01-31 OC319895 core:PlantMachinery 2023-01-31 OC319895 2022-02-01 2023-01-31 OC319895 2023-01-31 OC319895 core:CurrentFinancialInstruments 2023-01-31 OC319895 core:Non-currentFinancialInstruments 2023-01-31 OC319895 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 OC319895 core:WithinOneYear 2023-01-31 OC319895 core:MotorVehicles 2023-01-31 OC319895 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: OC319895

Drinkwater Construction LLP

Annual Report and Unaudited Financial Statements

for the period from 1 February 2023 to 31 March 2024

 

Drinkwater Construction LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 7

Balance Sheet

2

Notes to the Financial Statements

4

 

Drinkwater Construction LLP

Limited liability partnership information

Designated members

Mr P Drinkwater

Mr D Drinkwater
 

Members

Mrs K Drinkwater

Mrs J Drinkwater

Drinkwater Construction Limited
 

Registered office

1 Walton Gardens
Tewkesbury
Glos
GL20 8ET

Principal place of business

37 Basepoint Business Centre
Oakfield Close
Tewkesbury
Glos
GL20 8SD

Accountants

Devereux & Hunt Ltd
Certified Accountants
51 Basepoint Business Centre
Oakfield Close
Tewkesbury
Glos
GL20 8SD

 

Drinkwater Construction LLP

(Registration number: OC319895)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

174,697

216,804

Current assets

 

Stocks

5

143,014

362,275

Debtors

6

333,768

306,244

Cash and short-term deposits

 

126,097

198,164

 

602,879

866,683

Creditors: Amounts falling due within one year

7

(166,453)

(195,665)

Net current assets

 

436,426

671,018

Total assets less current liabilities

 

611,123

887,822

Creditors: Amounts falling due after more than one year

8

(96,223)

(126,130)

Net assets attributable to members

 

514,900

761,692

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

450,810

972,376

Members’ other interest

 

64,086

(210,688)

 

514,896

761,688

Members’ other interests

 

Members' capital classified as equity

 

4

4

   

514,900

761,692

Total members' interests

 

Loans and other debts due to members

 

514,896

761,688

Equity

 

4

4

   

514,900

761,692

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

 

Drinkwater Construction LLP

(Registration number: OC319895)
Balance Sheet as at 31 March 2024

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Drinkwater Construction LLP (registered number OC319895) were approved by the Board and authorised for issue on 20 August 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr P Drinkwater
Designated member

   
 

Drinkwater Construction LLP

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Drinkwater Construction LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

 

Drinkwater Construction LLP

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

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Profit for the period before members' remuneration and profit shares

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation

37,057

38,259

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 7 (2023 - 7).

 

Drinkwater Construction LLP

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

4

Tangible fixed assets

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost

At 1 February 2023

22,454

296,156

318,610

Additions

548

-

548

Disposals

-

(14,845)

(14,845)

At 31 March 2024

23,002

281,311

304,313

Depreciation

At 1 February 2023

17,120

84,686

101,806

Charge for the year

1,029

36,027

37,056

Eliminated on disposals

-

(9,246)

(9,246)

At 31 March 2024

18,149

111,467

129,616

Net book value

At 31 March 2024

4,853

169,844

174,697

At 31 January 2023

5,334

211,470

216,804

5

Stocks

2024
£

2023
£

Stocks

15,000

15,000

Work in progress

128,014

347,275

143,014

362,275

6

Debtors

2024
£

2023
£

Trade debtors

311,542

281,683

Other debtors

17,307

17,812

Prepayments and accrued income

4,919

6,749

Total current trade and other debtors

333,768

306,244

 

Drinkwater Construction LLP

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

7

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

11,675

14,236

Other creditors

108,830

130,932

Accruals and deferred income

2,930

2,320

Taxation and social security

43,018

48,177

166,453

195,665

8

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Other creditors

96,223

126,130

9

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.