1 January 2023 false No description of principal activity Taxfiler 2024.5 OC380869business:LimitedLiabilityPartnershipLLP2023-01-012024-03-31 OC3808692022-12-31 OC3808692023-01-012024-03-31 OC380869business:AuditExemptWithAccountantsReport2023-01-012024-03-31 OC380869business:FullAccounts2023-01-012024-03-31 OC3808692024-03-31 OC380869business:PartnerLLP12023-01-012024-03-31 OC380869business:PartnerLLP22023-01-012024-03-31 OC380869business:RegisteredOffice2023-01-012024-03-31 OC3808692022-12-31 OC380869core:WithinOneYear2024-03-31 OC380869core:WithinOneYear2022-12-31 OC380869core:ShareCapital2024-03-31 OC380869core:ShareCapital2022-12-31 OC380869core:RevaluationReserve2024-03-31 OC380869core:RevaluationReserve2022-12-31 OC380869core:RetainedEarningsAccumulatedLosses2024-03-31 OC380869core:RetainedEarningsAccumulatedLosses2022-12-31 OC380869business:SmallEntities2023-01-012024-03-31 OC380869core:LandBuildings2023-01-012024-03-31 OC380869core:PlantMachinery2023-01-012024-03-31 OC380869core:MotorVehicles2023-01-012024-03-31 OC380869countries:EnglandWales2023-01-012024-03-31 OC380869core:LandBuildings2022-12-31 OC380869core:PlantMachinery2022-12-31 OC380869core:MotorVehicles2022-12-31 OC380869core:LandBuildings2024-03-31 OC380869core:PlantMachinery2024-03-31 OC380869core:MotorVehicles2024-03-31 OC3808692022-01-012022-12-31 iso4217:GBP xbrli:pure
Registered No. OC380869 (England and Wales)
Peter Barton LLP Unaudited accounts for the period from 1 January 2023 to 31 March 2024
Peter Barton LLP LLP Information for the period from 1 January 2023 to 31 March 2024
Designated members
Mr Peter F Barton
Mrs Ruth E Barton
Registered Number
OC380869 (England and Wales)
Registered Office
Bryn Gardens Rake Road Liss Hampshire GU35 9AR
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
- 2 -
Peter Barton LLP Statement of financial position as at 31 March 2024
2024 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
139,372 
123,411 
Current assets
Debtors
9,902 
17,794 
Cash at bank and in hand
9,387 
24,782 
19,289 
42,576 
Creditors: amounts falling due within one year
(12,900)
(13,012)
Net current assets
6,389 
29,564 
Net assets attributable to members
145,761 
152,975 
Represented by:
Loans and other debts due to members
88,978 
96,192 
Members' other interests
Members' capital classified as equity
20,758 
20,758 
Revaluation reserve
42,325 
36,025 
Other reserves
(6,300)
- 
56,783 
56,783 
145,761 
152,975 
Total members' interests
Loans and other debts due to members
88,978 
96,192 
Members' other interests
56,783 
56,783 
145,761 
152,975 
For the period ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
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.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 20 September 2024.
Mr Peter F Barton Designated member Limited Liability Partnership Registration No. OC380869
- 3 -
Peter Barton LLP Notes to the Accounts for the period from 1 January 2023 to 31 March 2024
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if 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. Profits are otherwise automatically divided and included under embers' remuneration charged as an expense in the profit and loss account.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
20% straight line
Motor vehicles
15% reducing balance - Classic Cars not depreciated
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
- 4 -
Peter Barton LLP Notes to the Accounts for the period from 1 January 2023 to 31 March 2024
Leased assets
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments. All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease. Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
2
Statutory information
Peter Barton LLP is a limited liability partnership, incorporated in England and Wales, registration number OC380869. Its registered office is Bryn Gardens, Rake Road, Liss, Hampshire, GU35 9AR.
3
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At valuation 
At 1 January 2023
42,629 
27,796 
77,425 
147,850 
Additions
13,342 
- 
1,020 
14,362 
Revaluations
- 
- 
6,300 
6,300 
Disposals
- 
- 
(2,500)
(2,500)
At 31 March 2024
55,971 
27,796 
82,245 
166,012 
Depreciation
At 1 January 2023
- 
22,426 
2,013 
24,439 
Charge for the period
- 
1,907 
294 
2,201 
At 31 March 2024
- 
24,333 
2,307 
26,640 
Net book value
At 31 March 2024
55,971 
3,463 
79,938 
139,372 
At 31 December 2022
42,629 
5,370 
75,412 
123,411 
4
Creditors: amounts falling due within one year
2024 
2022 
£ 
£ 
Trade creditors
5,552 
4,915 
Taxes and social security costs
1,639 
5,204 
Other creditors
4,189 
1,517 
Accruals
1,520 
1,376 
12,900 
13,012 
- 5 -
Peter Barton LLP Notes to the Accounts for the period from 1 January 2023 to 31 March 2024
5
Loans and other debts due to members
2024 
2022 
£ 
£ 
Loans from members
88,978 
96,192 
Amounts falling due within one year
88,978 
96,192 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the period the average number of employees was 0 (2022: 0).
- 6 -