REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 OCTOBER 2022 TO 29 SEPTEMBER 2023 |
FOR |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 OCTOBER 2022 TO 29 SEPTEMBER 2023 |
FOR |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 October 2022 to 29 September 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Statement of Comprehensive Income | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 6 |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP |
GENERAL INFORMATION |
for the Period 1 October 2022 to 29 September 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
REPORT OF THE MEMBERS |
for the Period 1 October 2022 to 29 September 2023 |
The members present their report with the financial statements of the LLP for the period 1 October 2022 to 29 September 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of retail chemists. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The loss for the period before members' remuneration and profit shares was £93,575 (2022 - £106,029 loss). |
MEMBERS' INTERESTS |
The capital of the LLP belongs to the partners in the proportions in which it was contributed. |
The profits of the LLP for each accounting period shall belong to the partners in their due profit sharing ratio. |
The members are entitled to draw against their respective share of the profit with each member having to repay on demand any excess of drawings over their due entitlement for any accounting period. Interest of 2% above bank base rate applies to any such excess drawings. Any profits not taken may be drawn during the next or any subsequent accounting period. |
ON BEHALF OF THE MEMBERS: |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
STATEMENT OF COMPREHENSIVE |
INCOME |
for the Period 1 October 2022 to 29 September 2023 |
Period |
1/10/22 |
to | Year Ended |
29/9/23 | 30/9/22 |
£ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(98,074 | ) | (113,950 | ) |
Other operating income |
(92,011 | ) | (106,029 | ) |
Interest payable and similar expenses |
LOSS FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
(93,575 |
) |
(106,029 |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
( |
) |
( |
) |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
STATEMENT OF FINANCIAL POSITION |
29 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
58,430 |
96,005 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
58,430 |
96,005 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 58,430 | 96,005 |
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. |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
STATEMENT OF FINANCIAL POSITION - continued |
29 September 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 October 2022 to 29 September 2023 |
1. | STATUTORY INFORMATION |
Platt Bridge Consortium Limited Liability Partnership is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historic cost convention. |
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 principle accounting policies adopted in the preparation of the financial statements are set out below. |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions in determining the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions actual results may differ. |
These estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Critical judgements and estimates |
The critical judgements and estimates that the members have made in the process of applying the LLP's accounting policies that have the most significant effect on the amounts recognised in the financial statements are discussed below. |
Provisions against stock |
At the reporting date the members make judgements, based on prior experience, regarding the level of provision required to account for stock that is slow moving or obsolete. |
Turnover |
Turnover represents the net value of NHS dispensing income and invoice value of goods sold, excluding value added tax. Turnover is recognised at the fair value of the consideration received or receivable for goods provided.. Turnover is recognised when the goods have been collected by customers. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery etc - 10% and 15% on reducing balance and 33.3% on cost |
Stocks |
Stocks are valued at the lower of cost and selling price after making due allowance for obsolete and slow moving items. |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 October 2022 to 29 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments. |
The LLP only has basic financial instruments. These result in the recognition of financial assets and liabilities such as trade debtors, trade creditors, prepayments and accruals. |
Financial assets and liabilities that are payable or receivable within one year, typically trade debtors, trade creditors, prepayments and accruals are measured initially and subsequently at the undiscounted amount of the cash consideration that is expected to be paid or received. |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) |
At 29 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 29 September 2023 |
NET BOOK VALUE |
At 29 September 2023 |
At 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
PLATT BRIDGE CONSORTIUM LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC336081) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 October 2022 to 29 September 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 58,430 | 96,005 |
Falling due within one year | 58,430 | 96,005 |
In the event of a winding up all monies due to unsecured creditors of the LLP would rank above loans and other debts due to members. |
There is a restriction in place that if a member draws amounts in excess of their share of profit for a period then this is repayable upon demand. Interest of 2% above bank base rate applies to any such excess drawings. |
9. | RELATED PARTY DISCLOSURES |
Peter Buckley (Platt Bridge) Limited |
A company which is a designated member of the LLP |
At the reporting date the LLP owed Peter Buckley (Platt Bridge) Limited £18,462 (2022: £45,842) in respect of its share of accumulated profits. |
Heaton Platt Bridge Limited |
A company which is a designated member of the LLP |
At the reporting date the LLP owed Heaton Platt Bridge Limited £39,968 (2022: £50,163) in respect of its share of accumulated profits. |