Registered number: OC330785 | ||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | ||||||||
Prepared By: | ||||||||
Hope Jones | ||||||||
Chartered Accountants | ||||||||
Suite114, Lymington Town Hall | ||||||||
Avenue Road | ||||||||
Lymington | ||||||||
Hants | ||||||||
SO41 9ZG |
Classic Car Safe LLP | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Statement of Financial Position | 3 | |||||||
Notes to the Accounts | 4 - 5 | |||||||
Classic Car Safe LLP | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | ||||||||
DESIGNATED MEMBERS | ||||||||
REGISTERED OFFICE | ||||||||
Berkshire | ||||||||
COMPANY NUMBER | ||||||||
ACCOUNTANTS | ||||||||
Hope Jones | ||||||||
Chartered Accountants | ||||||||
Suite114, Lymington Town Hall | ||||||||
Avenue Road | ||||||||
Lymington | ||||||||
Hants | ||||||||
SO41 9ZG |
Classic Car Safe LLP | ||||||||
STATEMENT OF FINANCIAL POSITION AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
148,333 | 101,694 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 65,159 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 9,621 | 14,991 | |||||||
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,007,109 | 773,420 | ||||||||
LOANS AND OTHER DEBTS DUE TO MEMBERS | 950,109 | 716,420 | ||||||||
MEMBERS ' OTHER INTERESTS | ||||||||||
Capital accounts | 57,000 | 57,000 | ||||||||
1,007,109 | 773,420 | |||||||||
TOTAL MEMBERS' INTERESTS | ||||||||||
Loans and other debts due to members | 950,109 | 716,420 | ||||||||
Members' other interests | 57,000 | 57,000 | ||||||||
Amounts due from members | 3 | (59,648) | - | |||||||
947,461 | 773,420 | |||||||||
Approved by the members on | ||||||||||
............................. | ||||||||||
Designated Member | ||||||||||
Classic Car Safe LLP | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. Prior year adjustment - additions to short leasehold properties in the previous accounting period were incorrectly classified as land and buildings and depreciation was incorrectly calculated for the previous two accounting periods, partly as a consequence of the incorrect classification. The figures for the previous accounting period have been restated as a result of this prior year adjustment. |
1b. Depreciation | ||||||||
Buildings | straight line 4% | |||||||
Short Leasehold Properties | straight line over the term of the lease | |||||||
Trailers | straight line 20% | |||||||
Fixtures, Fittings and Equipment | straight line 20% | |||||||
Computer Equipment | straight line 33.33% | |||||||
Motor Vehicles | reducing balance 5 - 25% |
1c. Turnover | ||||||||
Turnover represents the invoiced value of services supplied by the company, net of value added tax. |
2. TANGIBLE FIXED ASSETS | ||||||||||||||
Land And | Short Leasehold | Fixtures, Fittings and | Computer | Motor | ||||||||||
Buildings | Properties | Trailers | Equipment | Equipment | Vehicles | Total | ||||||||
£ | £ | £ | £ | £ | £ | £ | ||||||||
Cost | ||||||||||||||
At 1 January 2023 | 205,394 | 1,034,310 | 30,142 | 120,563 | 8,788 | 75,500 | 1,474,697 | |||||||
Additions | - | 301,037 | 1,200 | 15,889 | 216 | 15,500 | 333,842 | |||||||
At 31 December 2023 | 205,394 | 1,335,347 | 31,342 | 136,452 | 9,004 | 91,000 | 1,808,539 | |||||||
Depreciation | ||||||||||||||
At 1 January 2023 | 62,059 | 534,656 | 16,144 | 104,195 | 8,308 | 26,083 | 751,445 | |||||||
For the year | 6,947 | 115,591 | 4,056 | 9,432 | 358 | 13,130 | 149,514 | |||||||
At 31 December 2023 | 69,006 | 650,247 | 20,200 | 113,627 | 8,666 | 39,213 | 900,959 | |||||||
Net Book Amounts | ||||||||||||||
At 31 December 2023 | 136,388 | 685,100 | 11,142 | 22,825 | 338 | 51,787 | 907,580 | |||||||
At 31 December 2022 | 143,335 | 499,654 | 13,998 | 16,368 | 480 | 49,417 | 723,252 | |||||||
Classic Car Safe LLP | ||||||||
3. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 42,618 | 41,601 | ||||||
VAT | 14,447 | 25,205 | ||||||
Amounts due from members | 59,648 | - | ||||||
Other debtors | 13,150 | 21,525 | ||||||
129,863 | 88,331 | |||||||
4. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 1 | |||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | 13,151 | 6,867 | ||||||
Taxation and social security | 60 | 22 | ||||||
Other creditors | 10,723 | 6,021 | ||||||
39,183 | 36,535 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | 9,621 | 14,991 | ||||||
9,621 | 14,991 | |||||||