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REGISTERED NUMBER: OC342648 (England and Wales)















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: A Grace
Mrs L J Grace





REGISTERED OFFICE: Unit A B & C
Hayfield Business Park
Berry Lane
Aspley Guise
Buckinghamshire
MK17 8HS





REGISTERED NUMBER: OC342648 (England and Wales)





ACCOUNTANTS: Higginson & Co (UK) Ltd
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:

A Grace
Mrs L J Grace

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:





A Grace - Designated member


18 March 2024

ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   

TURNOVER 1,351,598 1,271,873

Cost of sales 945,222 642,521
GROSS PROFIT 406,376 629,352

Administrative expenses 168,918 214,554
OPERATING PROFIT 4 237,458 414,798


Interest payable and similar expenses 36,970 60,674
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




200,488




354,124

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




200,488




354,124


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

200,488

354,124

ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 1,169,050

CURRENT ASSETS
Stocks 6 - 170,145
Debtors 7 581,020 254,409
Cash at bank and in hand 38,545 23,492
619,565 448,046
CREDITORS
Amounts falling due within one year 8 422,240 580,011
NET CURRENT ASSETS/(LIABILITIES) 197,325 (131,965 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,325

1,037,085

CREDITORS
Amounts falling due after more than one
year

9

-

871,635
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 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 January 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.

ABG ENTERPRISES LLP (REGISTERED NUMBER: OC342648)

BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 18 March 2024 and were signed by:





A Grace - Designated member

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
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 133,539 375,944

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 12,675 2,332,342 2,345,017
Additions - 110,130 110,130
Disposals (12,675 ) (2,442,472 ) (2,455,147 )
At 31 January 2024 - - -
DEPRECIATION
At 1 February 2023 12,150 1,163,817 1,175,967
Charge for year 175 133,364 133,539
Eliminated on disposal (12,325 ) (1,297,181 ) (1,309,506 )
At 31 January 2024 - - -
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 525 1,168,525 1,169,050

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks - 170,145

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 581,020 254,002
Prepayments and accrued income - 407
581,020 254,409

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts - 310,806
Trade creditors 37,486 19,490
VAT 2,089 16,254
Accrued expenses 382,665 233,461
422,240 580,011

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 - 871,635

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.