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REGISTERED NUMBER: OC335513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GRANTHAM CAR SHOP LLP

GRANTHAM CAR SHOP LLP (REGISTERED NUMBER: OC335513)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 5


GRANTHAM CAR SHOP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: R P Billingham
R A Jasinski
Witham Garage Ltd



REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF



REGISTERED NUMBER: OC335513 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: National Westminster Bank plc
27-28 St Peter's Hill
Grantham
Lincolnshire
NG31 6QG

GRANTHAM CAR SHOP LLP (REGISTERED NUMBER: OC335513)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,252 3,305

CURRENT ASSETS
Stocks 219,924 183,722
Debtors 5 11,334 1,987
Cash at bank and in hand 255,726 339,191
486,984 524,900
CREDITORS
Amounts falling due within one year 6 86,080 102,868
NET CURRENT ASSETS 400,904 422,032
TOTAL ASSETS LESS CURRENT LIABILITIES 403,156 425,337

CREDITORS
Amounts falling due after more than one year 7 - 24,111
NET ASSETS ATTRIBUTABLE TO MEMBERS 403,156 401,226

LOANS AND OTHER DEBTS DUE TO MEMBERS 9 403,056 401,126

MEMBERS' OTHER INTERESTS
Capital accounts 100 100
403,156 401,226

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 403,056 401,126
Members' other interests 100 100
403,156 401,226

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 March 2024.

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.

GRANTHAM CAR SHOP LLP (REGISTERED NUMBER: OC335513)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 8 October 2024 and were signed by:





Witham Garage Ltd - Designated member

GRANTHAM CAR SHOP LLP (REGISTERED NUMBER: OC335513)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Grantham Car Shop 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.

Vehicle sales are recognised upon delivery to the customer, or upon collection by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 24,507
Additions 295
At 31 March 2024 24,802
DEPRECIATION
At 1 April 2023 21,202
Charge for year 1,348
At 31 March 2024 22,550
NET BOOK VALUE
At 31 March 2024 2,252
At 31 March 2023 3,305

GRANTHAM CAR SHOP LLP (REGISTERED NUMBER: OC335513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,578 528
Other debtors 4,756 1,459
11,334 1,987

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 9,911
Trade creditors 39,885 36,874
Taxation and social security 326 13,835
Other creditors 45,869 42,248
86,080 102,868

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 24,111

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 10,500

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 403,056 401,126

Falling due within one year 403,056 401,126

All loans and other debts due to members are unsecured and do not rank above any other unsecured creditor in the event of a winding up. There are no restrictions in place on the ability of members to reduce the amount of 'Members' other interests'.