G & M Mills Plant Hire & Sales LLP NC000194 false 2023-02-01 2024-03-31 2024-03-31 The principal activity of the company is hire & sale of plant Digita Accounts Production Advanced 6.30.9574.0 true NC000194 2023-02-01 2024-03-31 NC000194 2024-03-31 NC000194 core:CurrentFinancialInstruments 2024-03-31 NC000194 core:Non-currentFinancialInstruments 2024-03-31 NC000194 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NC000194 core:WithinOneYear 2024-03-31 NC000194 core:FurnitureFittings 2024-03-31 NC000194 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 NC000194 core:MotorVehicles 2024-03-31 NC000194 core:PlantMachinery 2024-03-31 NC000194 bus:SmallEntities 2023-02-01 2024-03-31 NC000194 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-03-31 NC000194 bus:FilletedAccounts 2023-02-01 2024-03-31 NC000194 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-03-31 NC000194 bus:PartnerLLP1 2023-02-01 2024-03-31 NC000194 bus:LimitedLiabilityPartnershipLLP 2023-02-01 2024-03-31 NC000194 core:FurnitureFittings 2023-02-01 2024-03-31 NC000194 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-03-31 NC000194 core:LandBuildings 2023-02-01 2024-03-31 NC000194 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-03-31 NC000194 core:MotorVehicles 2023-02-01 2024-03-31 NC000194 core:PlantMachinery 2023-02-01 2024-03-31 NC000194 countries:AllCountries 2023-02-01 2024-03-31 NC000194 2023-01-31 NC000194 core:FurnitureFittings 2023-01-31 NC000194 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 NC000194 core:MotorVehicles 2023-01-31 NC000194 core:PlantMachinery 2023-01-31 NC000194 2022-02-01 2023-01-31 NC000194 2023-01-31 NC000194 core:CurrentFinancialInstruments 2023-01-31 NC000194 core:Non-currentFinancialInstruments 2023-01-31 NC000194 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 NC000194 core:WithinOneYear 2023-01-31 NC000194 core:FurnitureFittings 2023-01-31 NC000194 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 NC000194 core:MotorVehicles 2023-01-31 NC000194 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: NC000194

G & M Mills Plant Hire & Sales LLP


Annual Report and Unaudited Financial Statements

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
£

Fixed assets

 

Tangible assets

3

12,539

17,453

Current assets

 

Stocks

4

35,178

32,758

Debtors

5

165

373

Cash and short-term deposits

 

1,180

2,960

 

36,523

36,091

Creditors: Amounts falling due within one year

6

(10,327)

(9,514)

Net current assets

 

26,196

26,577

Total assets less current liabilities

 

38,735

44,030

Creditors: Amounts falling due after more than one year

7

(2,474)

(4,338)

Net assets attributable to members

 

36,261

39,692

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

36,261

39,692

   

36,261

39,692

Total members' interests

 

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 Board and authorised for issue on 11 October 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Ms Margaret Mills
Designated member

 

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
2024
£

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
2023
£

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

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 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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 2 (2023 - 2).

 

G & M Mills Plant Hire & Sales LLP

Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024

3

Tangible fixed assets

Freehold land and buildings
£

Plant and machinery
 £

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost

At 1 February 2023

3,900

1,870

472

40,028

46,270

Disposals

-

(1,500)

-

-

(1,500)

At 31 March 2024

3,900

370

472

40,028

44,770

Depreciation

At 1 February 2023

1,170

745

472

26,430

28,817

Charge for the year

390

-

-

3,399

3,789

Eliminated on disposals

-

(375)

-

-

(375)

At 31 March 2024

1,560

370

472

29,829

32,231

Net book value

At 31 March 2024

2,340

-

-

10,199

12,539

At 31 January 2023

2,730

1,125

-

13,598

17,453

4

Stocks

2024
£

2023
£

Stocks

35,178

32,758

5

Debtors

2024
£

2023
£

Other debtors

165

373

Total current trade and other debtors

165

373

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Other creditors

5,030

5,432

Accruals and deferred income

5,297

4,082

10,327

9,514

 

G & M Mills Plant Hire & Sales LLP

Notes to the Financial Statements for the
Period from 1 February 2023 to 31 March 2024

7

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Other creditors

2,474

4,338

8

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.