Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-05trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-06falsehire of plant and vehicles00truefalse OC365316 2023-04-06 2024-04-05 OC365316 2022-01-01 2023-04-05 OC365316 2024-04-05 OC365316 2023-04-05 OC365316 c:PlantMachinery 2023-04-06 2024-04-05 OC365316 c:PlantMachinery 2024-04-05 OC365316 c:PlantMachinery 2023-04-05 OC365316 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC365316 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC365316 c:MotorVehicles 2023-04-06 2024-04-05 OC365316 c:MotorVehicles 2024-04-05 OC365316 c:MotorVehicles 2023-04-05 OC365316 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC365316 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC365316 c:FurnitureFittings 2023-04-06 2024-04-05 OC365316 c:FurnitureFittings 2024-04-05 OC365316 c:FurnitureFittings 2023-04-05 OC365316 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC365316 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC365316 c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC365316 c:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC365316 c:CurrentFinancialInstruments 2024-04-05 OC365316 c:CurrentFinancialInstruments 2023-04-05 OC365316 c:Non-currentFinancialInstruments 2024-04-05 OC365316 c:Non-currentFinancialInstruments 2023-04-05 OC365316 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-05 OC365316 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC365316 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-05 OC365316 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-05 OC365316 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-04-05 OC365316 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-04-05 OC365316 d:FRS102 2023-04-06 2024-04-05 OC365316 d:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC365316 d:FullAccounts 2023-04-06 2024-04-05 OC365316 d:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC365316 c:HirePurchaseContracts c:WithinOneYear 2024-04-05 OC365316 c:HirePurchaseContracts c:WithinOneYear 2023-04-05 OC365316 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-04-05 OC365316 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-04-05 OC365316 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-04-05 OC365316 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-05 OC365316 c:LeasedAssetsHeldAsLessee 2024-04-05 OC365316 c:LeasedAssetsHeldAsLessee 2023-04-05 OC365316 d:PartnerLLP1 2023-04-06 2024-04-05 OC365316 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-06 2024-04-05 OC365316 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-04-05 OC365316 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-01-01 2023-04-05 OC365316 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-05 OC365316 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: OC365316









WESTMADE HIRE LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

 
WESTMADE HIRE LLP
REGISTERED NUMBER: OC365316

BALANCE SHEET
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
388,114
399,628

  
388,114
399,628

Current assets
  

Debtors: amounts falling due within one year
 5 
4,004
4,441

Cash at bank and in hand
 6 
17,203
37,526

  
21,207
41,967

Creditors: Amounts Falling Due Within One Year
 7 
(223,506)
(178,637)

Net current liabilities
  
 
 
(202,299)
 
 
(136,670)

Total assets less current liabilities
  
185,815
262,958

Creditors: amounts falling due after more than one year
 8 
(189,239)
(188,999)

  
(3,424)
73,959

  

Net (liabilities)/assets
  
(3,424)
73,959


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
(3,424)
73,959


Total members' interests
  

Members' other interests
  
(3,424)
73,959


Page 1

 
WESTMADE HIRE LLP
REGISTERED NUMBER: OC365316
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024

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

The entity 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.

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

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 4 September 2024.





................................................
Allen Vincent Gilbert-Stroud
Designated member

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
WESTMADE HIRE LLP
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 5 APRIL 2024


Members capital (classified as equity)
Total equity

£
£


Comprehensive income for the year

Allocated profit
418,216
418,216

Capital introduced by members
62,411
62,411

Capital amounts repaid to members
(406,668)
(406,668)



At 6 April 2023
73,959
73,959


Comprehensive income for the year

Allocated profit
203,638
203,638


Contributions by and distributions to members

Capital introduced by members
13,778
13,778

Capital amounts repaid to members
(294,799)
(294,799)


At 5 April 2024
(3,424)
(3,424)

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Westmade Hire LLP was incorporated as a limited liability partnership in England and Wales. The principal operation of the partnership is the hire of plant and vehicles. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Leased assets: the LLP as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits both automatically and discretionarily. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in . Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The entity has no employees.

Page 6

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 6 April 2023
48,127
719,165
745
768,037


Additions
6,587
179,626
-
186,213


Disposals
-
(136,234)
-
(136,234)



At 5 April 2024

54,714
762,557
745
818,016



Depreciation


At 6 April 2023
24,618
343,184
607
368,409


Charge for the year on owned assets
4,515
49,765
21
54,301


Charge for the year on financed assets
-
74,893
-
74,893


Disposals
-
(67,701)
-
(67,701)



At 5 April 2024

29,133
400,141
628
429,902



Net book value



At 5 April 2024
25,581
362,416
117
388,114



At 5 April 2023
23,509
375,981
138
399,628

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
224,679
227,842

224,679
227,842

Page 7

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
4,004
4,441

4,004
4,441



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,203
37,526

17,203
37,526



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
-
6,799

Amounts owed to related party
123,004
89,279

Other taxation and social security
24,837
16,211

Obligations under finance lease and hire purchase contracts
63,795
54,924

Other creditors
120
-

Accruals and deferred income
1,750
1,424

223,506
178,637


The hire purchase liability is secured on the assets concerned.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
21,667

Net obligations under finance leases and hire purchase contracts
177,572
167,332

189,239
188,999


The hire purchase liability is secured on the assets concerned.

Page 8

 
WESTMADE HIRE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


Amounts falling due 2-5 years

Bank loans
11,667
21,667


21,667
31,667



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
63,795
54,924

Between 1-5 years
177,572
167,332

241,367
222,256

 
Page 9