Registered No. OC396034 (England and Wales)
Greg Hall Jewellery LLP
Unaudited accounts
for the year ended 31 March 2024
Greg Hall Jewellery LLP
LLP Information
for the year ended 31 March 2024
Designated members
Mr G P Hall
Registered Number
OC396034 (England and Wales)
Registered Office
2 Meeting House Lane
Brighton
East Sussex
BN1 1HB
Accountants
D M Pettitt Accountancy Services
33 Bowmans Close
Steyning
West Sussex
BN44 3SR
Greg Hall Jewellery LLP
Statement of financial position
as at 31 March 2024
Inventories
693,036
687,710
Cash at bank and in hand
12,550
16,738
Creditors: amounts falling due within one year
(134,385)
(117,708)
Net current assets
588,268
596,593
Net assets attributable to members
588,268
596,593
Loans and other debts due to members
588,268
596,593
Loans and other debts due to members
588,268
596,593
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 31 October 2024.
Mr G P Hall
Designated member
Limited Liability Partnership Registration No. OC396034
Greg Hall Jewellery LLP
Notes to the Accounts
for the year ended 31 March 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Greg Hall Jewellery LLP is a limited liability partnership, incorporated in England and Wales, registration number OC396034. Its registered office is 2 Meeting House Lane, Brighton, East Sussex, BN1 1HB.
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
35,493
32,332
Trade creditors
47,973
44,909
Taxes and social security costs
6,551
8,292
Other creditors
42,000
30,000
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Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
588,268
596,593
Amounts falling due within one year
588,268
596,593
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
Greg Hall Jewellery LLP
Notes to the Accounts
for the year ended 31 March 2024
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.
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Average number of employees
During the year the average number of employees was 3 (2023: 3).