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REGISTERED NUMBER: OC354062 (England and Wales)

















Report of the Members and

Unaudited Financial Statements

for the Period 1 December 2022 to 31 March 2024

for

Sulphate Solutions LLP

Sulphate Solutions LLP (Registered number: OC354062)






Contents of the Financial Statements
for the period 1 December 2022 to 31 March 2024




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


Sulphate Solutions LLP

General Information
for the period 1 December 2022 to 31 March 2024







DESIGNATED MEMBERS: Mrs D J Hewett
J S Hewett
G Barrow
Mrs V J Barrow
Sulphate Solutions (2003) Ltd





REGISTERED OFFICE: Balmer Cottage Balmer
Welshampton
Ellesmere
SY12 0PP





REGISTERED NUMBER: OC354062 (England and Wales)





ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Sulphate Solutions LLP (Registered number: OC354062)

Report of the Members
for the period 1 December 2022 to 31 March 2024

The members present their report with the financial statements of the LLP for the period 1 December 2022 to 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of support services for crop production.

DESIGNATED MEMBERS
The designated members during the period under review were:

Mrs D J Hewett
J S Hewett
G Barrow
Mrs V J Barrow
Sulphate Solutions (2003) Ltd

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The loss for the period before members' remuneration and profit shares was £33,122 (2022 - £52,084 loss).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which are determined by the performance and seniority of these members. On retirement, capital is repaid to members.

ON BEHALF OF THE MEMBERS:





G Barrow - Designated member


28 August 2024

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Sulphate Solutions LLP


In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Sulphate Solutions LLP for the period ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Sulphate Solutions LLP, as a body, in accordance with the terms of our engagement letter dated 16 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Sulphate Solutions LLP and state those matters that we have agreed to state to the members of Sulphate Solutions LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sulphate Solutions LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Sulphate Solutions LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sulphate Solutions LLP. You consider that Sulphate Solutions LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Sulphate Solutions LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG


28 August 2024

Sulphate Solutions LLP (Registered number: OC354062)

Income Statement
for the period 1 December 2022 to 31 March 2024

Period
1.12.22
to Year Ended
31.3.24 30.11.22
Notes £    £   

REVENUE 39,966 20,440

Cost of sales 2,437 3,375
GROSS PROFIT 37,529 17,065

Administrative expenses 62,413 61,295
OPERATING LOSS 4 (24,884 ) (44,230 )

Interest receivable and similar income 393 1,271
(24,491 ) (42,959 )

Interest payable and similar expenses 8,631 9,125
LOSS FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(33,122




)




(52,084




)

Sulphate Solutions LLP (Registered number: OC354062)

Statement of Financial Position
31 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 6 30,951 70,325

CURRENT ASSETS
Debtors 7 206,555 196,260
Cash at bank 2,888 37,911
209,443 234,171
CREDITORS
Amounts falling due within one year 8 8,762 9,265
NET CURRENT ASSETS 200,681 224,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,632

295,231

CREDITORS
Amounts falling due after more than
one year

9

(53,008

)

(64,246

)

ACCRUALS AND DEFERRED INCOME (1,655 ) (1,480 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

176,969

229,505

Sulphate Solutions LLP (Registered number: OC354062)

Statement of Financial Position - continued
31 March 2024

2024 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

176,969

229,505

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 176,969 229,505
Amounts due from members 7 (185,674 ) (187,277 )
(8,705 ) 42,228

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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 28 August 2024 and were signed by:





G Barrow - Designated member

Sulphate Solutions LLP (Registered number: OC354062)

Reconciliation of Members' Interests
for the period 1 December 2022 to 31 March 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 229,504
Amount due from members (187,277 )
Balance at 1 December 2022 - 42,227 42,227
Loss for the financial period
available for discretionary
division among members


(33,122


)


-


(33,122


)


Members' interests after loss
for the period

(33,122

)

42,227

9,105

Other divisions of loss 33,122 (33,122 ) -
Introduced by members - 11,490 11,490
Repayments of debt (including
members' capital classified as a
liability)


-


(9,800


)


(9,800


)


Drawings on account and
distributions of profit

-

(19,500

)

(19,500

)

Amount due to members 176,969
Amount due from members (185,674 )
Balance at 31 March 2024 - (8,705 ) (8,705 )

Sulphate Solutions LLP (Registered number: OC354062)

Reconciliation of Members' Interests
for the period 1 December 2022 to 31 March 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 291,116
Amount due from members (177,049 )
Balance at 1 December 2021 - 114,067 114,067
Loss for the financial period
available for discretionary
division among members


(52,084


)


-


(52,084


)


Members' interests after loss
for the period

(52,084

)

114,067

61,983

Other divisions of loss 52,084 (52,084 ) -
Introduced by members - 22,805 22,805
Repayments of debt (including
members' capital classified as a
liability)


-


(7,200


)


(7,200


)


Drawings on account and
distributions of profit

-

(35,360

)

(35,360

)

Amount due to members 229,505
Amount due from members (187,277 )
Balance at 30 November 2022 - 42,228 42,228

Sulphate Solutions LLP (Registered number: OC354062)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024

1. STATUTORY INFORMATION

Sulphate Solutions LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

Sulphate Solutions LLP extended it's year end to 31st March 2024 to bring in line with basis period reform.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% straight line
Fixtures and fittings - 10% straight line
Motor vehicles - 25% straight line

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 4 (2022 - 4 ) .

Sulphate Solutions LLP (Registered number: OC354062)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024

4. OPERATING LOSS

The operating loss is stated after charging:

Period
1.12.22
to Year Ended
31.3.24 30.11.22
£    £   
Depreciation - owned assets 40,415 40,663

5. INFORMATION IN RELATION TO MEMBERS

Period
1.12.22
to Year Ended
31.3.24 30.11.22

The average number of members during the period was 5 5

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 77,983 16,318 176,825 271,126
Additions - 1,041 - 1,041
At 31 March 2024 77,983 17,359 176,825 272,167
DEPRECIATION
At 1 December 2022 73,483 15,315 112,003 200,801
Charge for period 4,500 1,257 34,658 40,415
At 31 March 2024 77,983 16,572 146,661 241,216
NET BOOK VALUE
At 31 March 2024 - 787 30,164 30,951
At 30 November 2022 4,500 1,003 64,822 70,325


Sulphate Solutions LLP (Registered number: OC354062)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Other debtors 206,555 196,260

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 3,196 3,196
Trade creditors 328 1,069
Taxation and social security 238 -
8,762 9,265

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 30,455 37,431
Hire purchase contracts 22,553 26,815
53,008 64,246

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,455 12,431

Sulphate Solutions LLP (Registered number: OC354062)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Income statement in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the income statement and are equity appropriations in the Statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the income statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

During the period Sulphate Solutions LLP made repayments of £1,800 (2022 - £7,200) and received monies of £6,280 (2022 - £Nil ) in respect of a loan to Mr G Barrow, a designated member of the LLP. Interest was payable on the loan (at a rate of 5% p.a) of £393 (2022 - £1,271). At the balance sheet date the amount owing to the LLP was £22,286 (2022 - £26,373).

During the period Sulphate Solutions LLP made repayments of £Nil (2022 - £Nil) and received monies of £552 (2022 - £Nil) in respect of a loan from Mr J S Hewett, a designated member of the LLP. Interest was due on the loan (at a rate of 5% p.a.) of £1,674 (2022 - £5,131). At the balance sheet date the amount owing from the LLP was £92,409 (2022 - £90,735).


Sulphate Solutions LLP (Registered number: OC354062)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024
During the period Sulphate Solutions LLP made payments of £8,000 (2022 - £1,500) and received monies of £Nil (2022 - £20,000) in respect of a loan to Mrs D Hewett, a designated member of the LLP. Interest was due on the loan (at a rate of 5% p.a.) of £3,928 (2022 - £444). At the balance sheet date the amount owing from the LLP was £12,724 (2022 - £16,796).