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REGISTERED NUMBER: OC436204 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

TOWER LAUNDERETTE LLP

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOWER LAUNDERETTE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DESIGNATED MEMBERS: P R Gunston
Mrs S A Gunston





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: OC436204 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 4,200
Tangible assets 5 50,476 63,091
53,476 67,291

CURRENT ASSETS
Stocks 350 350
Debtors 6 3,623 1,200
Cash at bank and in hand 23,098 18,444
27,071 19,994
CREDITORS
Amounts falling due within one year 7 8,936 12,438
NET CURRENT ASSETS 18,135 7,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,611

74,847

CREDITORS
Amounts falling due after more than
one year

8

41,450

47,022
NET ASSETS ATTRIBUTABLE TO
MEMBERS

30,161

27,825

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE
TO MEMBERS

9

30,161

27,825

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

9

30,161

27,825

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 year ended 31 December 2023.

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 August 2024 and were signed by:





P R Gunston - Designated member

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

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

The turnover shown in the profit and loss accounts represents takings during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 6,000
AMORTISATION
At 1 January 2023 1,800
Charge for year 1,200
At 31 December 2023 3,000
NET BOOK VALUE
At 31 December 2023 3,000
At 31 December 2022 4,200

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 627 75,126 75,753
DEPRECIATION
At 1 January 2023 141 12,521 12,662
Charge for year 94 12,521 12,615
At 31 December 2023 235 25,042 25,277
NET BOOK VALUE
At 31 December 2023 392 50,084 50,476
At 31 December 2022 486 62,605 63,091

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,992 -
Prepayments and accrued income 1,631 1,200
3,623 1,200

TOWER LAUNDERETTE LLP (REGISTERED NUMBER: OC436204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,572 5,572
Trade creditors 509 2,062
Accruals and deferred income 2,855 4,804
8,936 12,438

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 41,450 47,022

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 30,161 27,825

Falling due within one year 30,161 27,825

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.
There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.