Registered number
OC430276
Torycomb LLP
Unaudited Filleted Accounts
31 March 2024
Torycomb LLP
Registered number: OC430276
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 82,465 84,980
Current assets
Stocks 56,526 82,668
Debtors 4 2,551 9,885
Cash at bank and in hand 16,450 43,948
75,527 136,501
Creditors: amounts falling due within one year 5 (48,909) (28,553)
Net current assets 26,618 107,948
Total assets less current liabilities 109,083 192,928
Net assets attributable to members 109,083 192,928
Represented by:
Members' other interests
Other reserves 109,083 192,928
109,083 192,928
Total members' interests
Members' other interests 109,083 192,928
109,083 192,928
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 2 October 2024 and signed on their behalf by:
R Tory M A Tory
Designated member Designated member
Torycomb LLP
Notes to the Accounts
for the period from 1 February 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 133,648 7,000 140,648
Additions 31,440 - 31,440
At 31 March 2024 165,088 7,000 172,088
Depreciation
At 1 February 2023 52,360 3,308 55,668
Charge for the period 32,878 1,077 33,955
At 31 March 2024 85,238 4,385 89,623
Net book value
At 31 March 2024 79,850 2,615 82,465
At 31 January 2023 81,288 3,692 84,980
4 Debtors 2024 2023
£ £
Trade debtors 2,018 1,711
Other debtors 533 8,174
2,551 9,885
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 27,414 12,110
Other creditors 21,495 16,443
48,909 28,553
6 Controlling party
The members are the controling party by virtue of their controlling interest in the limited liability partnership.
7 Other information
Torycomb LLP is a limited liability partnership incorporated in England. Its registered office is:
East Farm Lower Street
Winterborne Whitechurch
Blandford Forum
Dorset
DT11 9AW
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