TG Jarkyn LLP
Registered number: OC336128
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 41,738 41,738
Tangible assets 4 62,218 69,131
103,956 110,869
Current assets
Stocks 114,020 121,242
Debtors 5 257,518 303,594
Cash at bank and in hand 287,599 353,541
659,137 778,377
Creditors: amounts falling due within one year 6 (338,724) (358,399)
Net current assets 320,413 419,978
Total assets less current liabilities 424,369 530,847
Net assets attributable to members 424,369 530,847
Represented by:
Loans and other debts due to members 7 424,369 530,847
424,369 530,847
Total members' interests
Loans and other debts due to members 7 424,369 530,847
424,369 530,847
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 30 October 2024 and signed on their behalf by:
Mr. J. G. Patel
Designated member
TG Jarkyn LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 10% reducing balance
Motor vehicles 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 18 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 41,738
At 31 March 2024 41,738
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 41,738
At 31 March 2023 41,738
4 Tangible fixed assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 217,731 38,212 255,943
At 31 March 2024 217,731 38,212 255,943
Depreciation
At 1 April 2023 155,784 31,028 186,812
Charge for the year 6,195 718 6,913
At 31 March 2024 161,979 31,746 193,725
Net book value
At 31 March 2024 55,752 6,466 62,218
At 31 March 2023 61,947 7,184 69,131
5 Debtors 2024 2023
£ £
Other debtors 257,518 303,594
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 338,724 358,399
7 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 424,369 530,847
Amounts falling due within one year 424,369 530,847
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
TG Jarkyn LLP OC336128 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Mr. J. G. Patel No description of principal activity OC336128 2022-04-01 2023-03-31 OC336128 core:WithinOneYear 2023-03-31 OC336128 1 2023-03-31 OC336128 2023-04-01 2024-03-31 OC336128 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC336128 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC336128 bus:PartnerLLP20 2023-04-01 2024-03-31 OC336128 3 2023-04-01 2024-03-31 OC336128 core:PlantMachinery 2023-04-01 2024-03-31 OC336128 core:Vehicles 2023-04-01 2024-03-31 OC336128 bus:FRS102 2023-04-01 2024-03-31 OC336128 bus:FilletedAccounts 2023-04-01 2024-03-31 OC336128 2024-03-31 OC336128 core:WithinOneYear 2024-03-31 OC336128 1 2024-03-31 OC336128 core:Goodwill 2024-03-31 OC336128 core:PlantMachinery 2024-03-31 OC336128 core:Vehicles 2024-03-31 OC336128 2023-03-31 OC336128 core:Goodwill 2023-03-31 OC336128 core:PlantMachinery 2023-03-31 OC336128 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure