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Registration number: OC420022

Roger King Antiques LLP

trading as Roger King Antiques LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Financial Statements

3 to 8

Balance Sheet

3

Notes to the Financial Statements

5

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Limited liability partnership information

Designated members

Mrs S L Knock

Mr SJ King
 

Registered office

111 High Street
Hungerford
Berkshire
RG17 0NB

Accountants

UHY Ross Brooke
Chartered Accountants
31A Charnham Street
Hungerford
Berkshire
RG17 0EJ

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Roger King Antiques LLP

trading as Roger King Antiques LLP
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Roger King Antiques LLP for the year ended 31 March 2024 set out on pages 3 to 8 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Roger King Antiques LLP , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Roger King Antiques LLP and state those matters that we have agreed to state to the members of Roger King Antiques LLP , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roger King Antiques LLP and its members as a body for our work or for this report.

It is your duty to ensure that Roger King Antiques LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Roger King Antiques LLP . You consider that Roger King Antiques LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Roger King Antiques LLP . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

UHY Ross Brooke
Chartered Accountants
31A Charnham Street
Hungerford
Berkshire
RG17 0EJ

13 August 2024

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

(Registration number: OC420022)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

2

433,668

440,196

Current assets

 

Stocks

3

18,660

17,722

Debtors

4

1,821

2,073

Cash and short-term deposits

 

8,685

8,004

 

29,166

27,799

Creditors: Amounts falling due within one year

5

(5,246)

(5,212)

Net current assets

 

23,920

22,587

Net assets attributable to members

 

457,588

462,783

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

457,588

462,783

   

457,588

462,783

Total members' interests

 

Equity

 

457,588

462,783

   

457,588

462,783

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

(Registration number: OC420022)
Balance Sheet as at 31 March 2024

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Roger King Antiques LLP (registered number OC420022) were approved by the Board and authorised for issue on 13 August 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr SJ King
Designated member

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Roger King Antiques LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% on reducing balance

Fixtures and fittings

10% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

15% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

2

Tangible fixed assets

Freehold land and buildings
£

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
£

Office equipment
£

Total
£

Cost

At 1 April 2023

425,000

2,319

4,038

39,034

1,539

471,930

Additions

-

-

-

-

471

471

Disposals

-

-

-

(17,000)

-

(17,000)

At 31 March 2024

425,000

2,319

4,038

22,034

2,010

455,401

Depreciation

At 1 April 2023

-

955

1,713

28,281

785

31,734

Charge for the year

-

136

233

2,688

160

3,217

Eliminated on disposals

-

-

-

(13,218)

-

(13,218)

At 31 March 2024

-

1,091

1,946

17,751

945

21,733

Net book value

At 31 March 2024

425,000

1,228

2,092

4,283

1,065

433,668

At 31 March 2023

425,000

1,364

2,325

10,753

754

440,196

3

Stocks

2024
£

2023
£

Stocks

18,660

17,722

4

Debtors

2024
 £

2023
 £

Prepayments and accrued income

1,821

2,073

1,821

2,073

 

Roger King Antiques LLP

trading as Roger King Antiques LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

2,943

3,275

Other creditors

565

-

Taxation and social security

1,738

1,937

5,246

5,212

6

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 1 (2023 - 1).