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
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
Peter Barton LLP
Statement of financial position
as at 31 March 2024
Tangible assets
139,372
123,411
Cash at bank and in hand
9,387
24,782
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
Loans and other debts due to members
88,978
96,192
Members' capital classified as equity
20,758
20,758
Revaluation reserve
42,325
36,025
Loans and other debts due to members
88,978
96,192
Members' other interests
56,783
56,783
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
Peter Barton LLP
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
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.
The accounts are presented in £ sterling.
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.
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 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 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 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.
Peter Barton LLP
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
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.
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.
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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
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
At 31 March 2024
55,971
3,463
79,938
139,372
At 31 December 2022
42,629
5,370
75,412
123,411
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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
Peter Barton LLP
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
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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.
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Average number of employees
During the period the average number of employees was 0 (2022: 0).