REGISTERED NUMBER: |
ABG ENTERPRISES LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
ABG ENTERPRISES LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Other Comprehensive Income | 4 |
Balance Sheet | 5 |
Reconciliation of Members' Interests | 7 |
Notes to the Financial Statements | 9 |
ABG ENTERPRISES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Kensworth Gate |
200 - 204 High Street South |
Dunstable |
Bedfordshire |
LU6 3HS |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 January 2024. |
CESSATION OF TRADING |
The LLP ceased trading on 31 October 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of the sale and hire of motor vehicles. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £200,488 (2023 - £354,124 profit). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
BALANCE SHEET |
31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
197,325 |
165,450 |
MEMBERS' LOANS AND OTHER DEBTS | 10 | 197,325 | 165,450 |
TOTAL MEMBERS' INTERESTS |
Members' loans and other debts | 10 | 197,325 | 165,450 |
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. |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
BALANCE SHEET - continued |
31 JANUARY 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 165,450 |
Amount due from members | - |
Balance at 1 February 2023 | - | 165,450 | 165,450 |
Profit for the financial year available for discretionary division among members |
200,488 |
- |
200,488 |
Members' interests after profit for the year |
200,488 |
165,450 |
365,938 |
Other divisions of profit | (200,488 | ) | 200,488 | - |
Drawings on account and distributions of profit |
- |
(168,613 |
) |
(168,613 |
) |
Amount due to members | 197,325 |
Amount due from members | - |
Balance at 31 January 2024 | - | 197,325 | 197,325 |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | - |
Amount due from members | (48,431 | ) |
Balance at 1 February 2022 | - | (48,431 | ) | (48,431 | ) |
Profit for the financial year available for discretionary division among members |
354,124 |
- |
354,124 |
Members' interests after profit for the year |
354,124 |
(48,431 |
) |
305,693 |
Other divisions of profit | (354,124 | ) | 354,124 | - |
Drawings on account and distributions of profit |
- |
(140,243 |
) |
(140,243 |
) |
Amount due to members | 165,450 |
Amount due from members | - |
Balance at 31 January 2023 | - | 165,450 | 165,450 |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
ABG Enterprises 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.1.24 | 31.1.23 |
£ | £ |
Depreciation - owned assets |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | STOCKS |
31.1.24 | 31.1.23 |
£ | £ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
VAT | 2,089 | 16,254 |
Accrued expenses |
ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts |
10. | MEMBERS' LOANS AND OTHER DEBTS |
Loans and other debts due to members are to rank equally with unsecured creditors. |
11. | RELATED PARTY DISCLOSURES |
The company trades with Datapace Limited, a company under common control. |
All transactions are at open market value. |