Registration number:
G & M Mills Plant Hire & Sales LLP
for the period from 1 February 2023 to 31 March 2024
G & M Mills Plant Hire & Sales LLP
(Registration number: NC000194)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
36,261 |
39,692 |
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36,261 |
39,692 |
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Total members' interests |
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Loans and other debts due to members |
36,261 |
39,692 |
|
36,261 |
39,692 |
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.
G & M Mills Plant Hire & Sales LLP
(Registration number: NC000194)
Balance Sheet as at 31 March 2024
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 G & M Mills Plant Hire & Sales LLP (registered number NC000194) were approved by the
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G & M Mills Plant Hire & Sales LLP
Statement of Changes in Members’ Interests
At 31 March 2024
Loans and Other Debts due to/ (from) Members |
Total |
|
Members' interest at 1 February 2023 |
39,692 |
39,692 |
Members' remuneration charged as an expense |
(15,793) |
(15,793) |
Members' interests after total comprehensive income |
23,899 |
23,899 |
Members’ capital introduced |
13,932 |
13,932 |
Drawings |
(1,570) |
(1,570) |
At 31 March 2024 |
36,261 |
36,261 |
Loans and Other Debts due to/ (from) Members |
Total |
|
Members' interest at 1 February 2022 |
32,608 |
32,608 |
Members' remuneration charged as an expense |
(9,184) |
(9,184) |
Members' interests after total comprehensive income |
23,424 |
23,424 |
Members’ capital introduced |
17,226 |
17,226 |
Drawings |
(958) |
(958) |
At 31 January 2023 |
39,692 |
39,692 |
G & M Mills Plant Hire & Sales LLP
Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024
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 under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
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 G & M Mills Plant Hire & Sales 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.
Members' remuneration and division of profits
A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
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.
Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
G & M Mills Plant Hire & Sales LLP
Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024
Asset class |
Depreciation method and rate |
Freehold Land and Buildings |
10% Straight Line Method |
Plant and Machinery |
25% Straight Line Method |
Fixtures and fittings |
33.3% Straight Line Method |
Motor Vehicles |
25% Reducing Balance Method |
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.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
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.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the period was
G & M Mills Plant Hire & Sales LLP
Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024
Tangible fixed assets |
Freehold land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost |
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At 1 February 2023 |
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Disposals |
- |
( |
- |
- |
( |
At 31 March 2024 |
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Depreciation |
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At 1 February 2023 |
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Charge for the year |
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- |
- |
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Eliminated on disposals |
- |
( |
- |
- |
( |
At 31 March 2024 |
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Net book value |
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At 31 March 2024 |
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- |
- |
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At 31 January 2023 |
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- |
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Stocks |
2024 |
2023 |
|
Stocks |
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Debtors |
2024 |
2023 |
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Other debtors |
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Total current trade and other debtors |
165 |
373 |
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Other creditors |
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Accruals and deferred income |
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G & M Mills Plant Hire & Sales LLP
Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024
Creditors: Amounts falling due after more than one year |
2024 |
2023 |
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Other creditors |
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Control |
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.