Bingley Tyres LLP Filleted Accounts Cover
Bingley Tyres LLP
Registered No. OC381319
Information for Filing with the Registrar
29 November 2023
Bingley Tyres LLP Balance Sheet Registrar
at
29 November 2023
Registered No.
OC381319
Notes
2023
2022
£
£
Fixed assets
Intangible assets
5
60,000
60,000
Tangible assets
6
235
235
60,235
60,235
Current assets
Debtors
7
503,070
503,078
503,070
503,078
Creditors: Amounts falling due within one year
8
(415,987)
(415,995)
Net current assets
87,083
87,083
Total assets less current liabilities
147,318
147,318
Net assets attributable to members
147,318
147,318
Represented by:
Members' other interests
Members' capital
160,000
160,000
Other reserves
(12,682)
(12,682)
147,318
147,318
147,318
147,318
For the year ending 29 November 2023 the LLP was entitled to exemption under section 480 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) Application of Companies Act 2006) Regulations 2008 relating to dormant LLP's.
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 24 August 2024 and signed on its behalf by:
N.J. Greaves
Designated member
24 August 2024
Bingley Tyres LLP Notes to the Accounts Registrar
for the year ended 29 November 2023
1
General information
Bingley Tyres LLP is a limited liability partnership and incorporated in England and Wales.
Its registered number is: OC381319
Its registered office is:
Star Garage
Whitley Street
Bingley
BD16 4JH
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Retirement benefits of former members
The retirement benefits of former members are determined annually base on a formula directly linked to the profits of the partnership. Provision is made at the date of retirement of the member for the estimated present value of the expected future payments to that member. On initial recognition the estimated current value of the future pension is transferred from members' interests to provisions for liabilities and charges. The unwinding of the discount of the provision to retirement benefits is charged to the profit and loss account and including in interest payable. The liability is reassessed annually and any changes in the estimates are included within the profit and loss account.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Information in relation to members
2023
2022
Number
Number
The average number of members during the year :
2
2
4
Employees
2023
2022
Number
Number
The average number of persons employed during the year was:
0
0
5
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 30 November 2022
150,000150,000
At 29 November 2023
150,000150,000
Amortisation
At 30 November 2022
90,00090,000
At 29 November 2023
90,00090,000
Net book values
At 29 November 2023
60,00060,000
At 29 November 2022
60,00060,000
6
Tangible fixed assets
Plant and machinery
Total
£
£
Cost
At 30 November 2022
2,6502,650
At 29 November 2023
2,6502,650
Depreciation
At 30 November 2022
2,4152,415
At 29 November 2023
2,4152,415
Net book values
At 29 November 2023
235235
At 29 November 2022
235
235
7
Debtors
2023
2022
£
£
Amounts owed by members
503,070503,078
503,070503,078
8
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-7
Amounts owed to group undertakings
415,203415,203
Other taxes and social security
174174
Accruals and deferred income
610611
415,987415,995
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